Relationship and hookup factory Match Group, owner of Match.com, Tinder, PlentyofFish, and OkCupid, started trading today on the Nasdaq stock market at more than $13 per share under the symbol $MTCH.
That’s a bit above the $12 price the company set last night, pushing the total value of the company above its approximately $2.9 billion valuation.
Back in October, Match Group hoped to raise at least $100 million in this initial public offering — it ended up raising about four times that figure.
Last we heard, Match Group has 59 million active users, of which just about 8 percent pay to use Match’s services.
That’s 59 million monthly active users, 4.7 million of whom are paid users.
As far as Match’s vulnerabilities, onlookers have so far proposed a few reasons for sitting out on this stock. Namely, the risk that Tinder’s free profiles could cannibalize how Match makes money: subscription fees for sites like Match.com. Also, it’s not like Tinder CEO Sean Rad has the best reputation.
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