BUSINESS

Wall Street feeling the chemistry with Match _ shares fly

Staff Writer
Columbus CEO

NEW YORK (AP) — The owner of Tinder, Match.com and OKCupid is having a great first date with Wall Street.

Shares of Match Group Inc. shares got a boost on their first day of trading, rising $1.69, or 14.1 percent, to $13.67 by midday Thursday.

The company had priced its IPO at $12, near the low end of its expected range. It sold about 33.3 million shares. They trade under the symbol MTCH on the Nasdaq market

The company has 50 brands using 40 languages around the world, and about 59 million active monthly users. It has been profitable and had $1 billion in revenue over the 12 months that ended June 30.

Parent company IAC/InterActiveCorp will maintain majority control of the company after the offering. IAC/InterAcrtiveCorp also owns Web properties like Vimeo, HomeAdvisor, About.com and CollegeHumor.