Millennials have a chance to swipe right on stock — the company that owns Tinder has gone public.
The popular dating app, owned by Match Group, opened its initial public offering at $12 per share, according to Business Insider.
That price represents a low price within the range that Match Group wanted, but will transform it into a public company worth almost $3 billion.
Since opening on Wednesday, the stock is close to $15 per share.
The popular dating app has been derided as bringing about “the dawn of the ‘dating apocalypse’” and destroying real connections among the youth. It’s also been defended as a platform for “a bit of everything,” depending on what millennials want.
The power is in the smartphone user, not the smartphone. It’s possible that the ease of use, sorting, and expanded options Tinder presents is changing how millennials think about love, even. A revolution in a right swipe.
For Match Group, however, they’ll retain power over that revolution. Though it’s now public, more than 50 percent of its shares will be owned by IAC/InterActiveCorp. The app might empower millennials, but the power— and earning potential — behind it is too irresistible to give up.
