SWIPE RIGHT FOR TUTORS? Mixing tutoring and dating is usually taboo—except perhaps in this case. InterActiveCorp (IAC), the mighty holding conglomerate of Internet businesses, has been gearing to take its spinoff company, Match Group, public ever since the summer. As its name suggests, Match Group includes a slew of online dating services including Match.com, OkCupid, and Tinder. The group also has The Princeton Review—which was acquired by IAC-owned Tutor.com in 2014. In all, Match Group holds over 45 brands.
It may sound like an odd mix to lump dating and education businesses. But according to Match Group’s S-1 filing:
We acquired [The Princeton Review] because it relies on many of the same competencies as those relied upon by our Dating business, such as paid customer acquisition, a combination of paid and free business models, a deep understanding of the lifetime values of customers and a strong expertise in user-interface development. The Princeton Review's revenue consists primarily of fees received for in-person and online test preparation classes, access to online test preparation materials and individual tutoring services.
Match Group will list on Nasdaq under the symbol “MTCH.” It is looking to sell 33.3 million shares between $12 and $14 each.
