IAC (NASD: IACI) has spun off its dating technology portfolio, dubbed it "The Match Group" and will IPO it hoping to raise more than $530 million in the next few hours.
It's all very exciting for good ol' Barry Diller, a tidy little score for Barry that will likely generate a healthy return on his acquisitions of numerous dating sites, the crown jewel of which being Tinder.
It's hard to imagine that The Match Group would be generating anywhere near the excitement it is without Tinder and its reported 80 million global users. So all IAC needs to do is keep Tinder looking shiny and worthy of investment in this era of overgrown tech valuations.
Right, Tinder founder and CEO Sean Rad?
Oh, you've given an interview to London's Evening Standard? All part of the super-mature and professional Match Group IPO roadshow we assume...
He’s desperate to impress on me how gallant he is, citing the fact that a “supermodel, someone really, really famous” has been “begging” him for sex “and I’ve been like, no”. She’s “taunted” him, he says, and “called me a prude”.
“She’s one of the most beautiful women I’ve ever seen but it doesn’t mean that I want to rip her clothes off and have sex with her. Attraction is nuanced. I’ve been attracted to women who are ...” he pauses “... well, who my friends might think are ugly. I don’t care if someone is a model. Really. It sounds clichéd and almost totally unbelievable for a guy to say this, but it’s true. I need an intellectual challenge.”
Umm...we get it's a dating app company Sean, but maybe simmer down a bit and focus more on the "publicly traded company" thing...
He continues: “Apparently there’s a term for someone who gets turned on by intellectual stuff. You know, just talking. What’s the word?” His face creases the effort of trying to remember. “I want to say ‘sodomy’?”
The Match Group is looking for between $12 to $14 a share... so get out there and trade if you're so smart and think you know what "sodomy" actually means.
Tinder? I'm an addict, says hook-up app's co-creator and CEO Sean Rad [Evening Standard]