Needham & Company Raises PT for IAC (IACI) on Sum of the Parts
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Investors 'swipe right' in Tinder-owner Match's debut
November 19, 2015 10:56 AM ESTBy Richa Naidu and Sai Sachin R
(Reuters) - Shares of media mogul Barry Diller's Match Group Inc (NASDAQ: MTCH), the owner of popular dating site Match.com and mobile app Tinder, jumped as much as 24 percent in their market debut on Thursday, valuing the company at $3.57 billion.
Match Group, which touts itself as the world's No. 1 dating company, is seen as the crown jewel of Diller's media properties and has driven parent IAC/InterActiveCorp's (NASDAQ: IACI) profit and revenue in recent quarters.
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