IAC/InterActiveCorp made $460 million by selling a small percentage of its ownership in a range of online dating services, the company said Tuesday. IAC announced that it had sold all the shares expected in the initial public offering of Match Group, along with 5 million additional shares that underwriters had options to sell. Match Group - which includes dating services like Tinder, Match.com and OKCupid - sold 38.3 million shares for $12 apiece in the IPO, leaving IAC with 84.6% of the company's capital stock. Match has a dual-class stock structure that allows IAC to retain control of more than 98% of the voting power, however. Match shares have gained since their market debut on Thursday, closing Tuesday at $14.22.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below