Tap here to turn on desktop notifications to get the news sent straight to you. No doubt there's big money in online dating, which has seen dramatic growth over the past decade as more people seek a date by going online instead of heading to a bar or a nightclub, and Match boasts some of the best-known sites in the business.
In all, Match has 45 brands in 38 languages that are available in countries around the world. Perhaps Match's most famous brand is Tinder , a location-based app that allows users to find likeminded individuals located near them who are also looking to meet up.
Founded in , the app became so popular so fast that within two years it was recording one billion daily page "swipes" when a user touches an image on an app. Obviously, a lot of people are using Tinder -- 24 million in , according to industry analysts. That number accounts for roughly 40 percent of Match's 59 million monthly users out of which 4.
Despite its success, Match's IPO was not without controversy. Specifically, questions were raised by IAC's decision to include two educational companies along with the dating sites in the newly-formed Match Group. The Princeton Review is a widely used test prep company, and Tutor.
Yes, because a user's information can be shared "with vendors and other third parties. It would be good if the company itself would uphold high ethical standards by setting up a firewall between its education services and its dating services. Some critics believe legislation should be enacted to require it. But there are other concerns. Match made the admission in IPO filing documents , declaring, "We are frequently under attack by perpetrators of random or targeted malicious technology-related events.
There can be no assurance that our efforts will prevent significant breaches in our systems or other such events from occurring. The theft of personal information for millions of the site's users prompted suicides, among them a Baptist minister in Louisiana. Should a parent be worried when his or her child signs up for The Princeton Review or Tutor. The answer appears to be yes -- and it will be until Match makes definitive moves to prevent such developments from happening.