Tinder, the mobile dating app that’s exploded to 10 million users and millions of matches made in just over a year, is now valued at $5 billion according to Bloomberg’s Serena Saito.
IAC, which owns a majority stake in the company it helped incubate, recently purchased 10% more of Tinder from early Facebook employee and investor Chamath Palihapitiya for $US500 million.
Tinder saw explosive growth after the Olympics, when athletes were using it heavily at Sochi. Then, it was generating 10 million matches per day.
IAC also owns popular dating services Match and OKCupid.
No idea what Tinder is? We wrote one of the first articles about it in January 2013 when it was flooding college campuses. Here’s a walk-through.
Here’s the bit from Bloomberg:
IAC recently bought another 10 per cent of Tinder from venture capitalist Chamath Palihapitiya for $US500 million, according to people with knowledge of the deal. That values the 20-month-old company with 10 million daily users at $US5 billion, compared with IAC’s $US5.57 billion market capitalisation.