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In this July 5, 2015 photo, an Indian man uses Los Angeles-based dating application Tinder in New Delhi, India. Hundreds of thousands of young Indians are nervously exploring online dating apps, breaking with India's centuries-old traditions governing marriage and social conduct. The dating app market has exploded in recent years, with more than a dozen companies operating in the country and more than a million smartphone users who have downloaded at least one of them. (AP Photo/Tsering Topgyal)
AP Photo/Tsering Topgyal
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IT'S HAPPENING

Tinder’s parent company is going public

By Melvin Backman

Match Group, the dating site division of  IAC/Interactive Corp—and the force behind Tinder, Match.com, OurTime, and OkCupid—is preparing for an initial public offering.

In a filing with the SEC, the company laid out its plan to sell shares, while noting that it is not striking off on its own entirely. Match Group will remain controlled by Barry Diller’s IAC/Interactive Corp, which will retain a majority of voting rights thanks to a multiple-class share system.

The company, which will trade under the ticker “MTCH,” saw net earnings rise 17.2% last year, to $148.4 million. Annual revenue rose 10.6% to $888 million.

The filing noted some of the risks the company faces, including a proliferation of competing dating sites in recent years. There’s also  what some see as a fundamental flaw in the business model for dating sites: The better these sites are at matching people, the less likely customers will be to return to use their services again.