IAC, the owners of OkCupid and Match.com, recently bought out Facebook employee and investor Chamath Palihapitiya's shares of the hook up app, Tinder. Big whoop, amirite?
Well it wouldn't be, if Palihapitiya hadn't owned 10-percent of the company, and IAC paid him $500 million for it. That purchase pushed Tinder's value to $5 billion — and the damn thing is only about 20 months old. Tinder most recently said it has about 10 million users, and that it got a huge bump during the Sochi Winter Olympics when athletes openly talked about using it during their down time. At that time, it was hitting 10 million matches a day.
The dough is gonna flow sometime in the future if the company keeps playing its cards right, and if you keep on getting those matches.
[via Bloomberg]
