Match and IAC Shares Plummet after Facebook’s Online Dating Announcement; Both Shares Fairly Valued
On May 1, after Facebook announced its plan to add dating app features to its platform, shares of Match Group and IAC (which owns over 80% of Match) skidded 22% and 18%, respectively, and are now trading in 3-star territory. We currently have fair value estimates of $37 per share for Match and $160 for IAC. In our view, while Facebook’s entrance into the online dating space represents an opportunity for Facebook to utilize its over 2 billion user base and further enhance its ecosystem to maintai...
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