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Match Group, Inc. specializes in the development and publishing of online dating platforms, including Tinder, Hinge, Match, Meetic, OkCupid, PairsTM, Plenty Of Fish, Azar, and BLK, available in over 40 languages. The company generates 54.2% of its revenue internationally.
IAC is considering a spinoff of Angi, its home improvement marketplace, which connects consumers with local service providers. The company, which owns 85% of Angi, noted that the spinoff could enhance shareholder value, although no specific timeline has been set. Angi's revenue fell 16% year over year to $296.7 million, attributed to reduced marketing spend, but it remains profitable with earnings of 7 cents per share.
Match Group Inc. has projected fourth-quarter revenue between $865 million and $875 million, falling short of the $905.9 million expected by analysts. This disappointing forecast comes amid ongoing pressure from activist investors, who had hoped for a turnaround at the dating app company.
Two former Pfizer executives, Ian Read and Frank D’Amelio, have distanced themselves from activist investor Starboard Value's plans to overhaul the company, citing support for current management. Starboard alleges they were coerced into this stance, claiming threats of litigation and compensation clawbacks. The investor, which holds a $1 billion stake in Pfizer, is pushing for changes amid the company's declining profitability and challenges in the pharmaceutical market.
Match Group, Inc.
Companies
| Symbol | MTCH |
| Name | Match Group, Inc. |
| Currency | USD |
| Sector | Communication Services |
| IndustryGroup | Telecommunication Services |
| Industry | Diversified Telecommunication Services |
| Market | NASDAQ Global Select |
| Country | United States |
| State | TX |
| City | Dallas |
| Zipcode | 75231 |
| Website | http://www.mtch.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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