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IAC to spin off Match Group

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Media and internet company IAC announced it will fully separate its public Match Group unit.

Through the spin-off, IAC shareholders would have direct ownership of Match Group, which operates dating apps Match, Tinder, OKCupid and Plenty of Fish.

"We've long said IAC is the 'anti-conglomerate' – we're not empire builders,” Chairman and Senior Executive Barry Diller said in a statement. “We've always separated out our businesses as they've grown in scale and maturity and soon Match Group, as the seventh spin-off, will join an impressive group of IAC progeny collectively worth $58 billion today."

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