InterActiveCorp/IAC is spinning off its Match Group unit, which includes Match.com, OkCupid and the dating app Tinder.
Tinder has been wildly successful, but IAC CEO Barry Diller insisted it was time to let it and the other dating sites go. “I’ve long felt that as entities grow into size and maturity, it’s healthy to give them separation and independence from a mother church,” Diller explained in a statement.
While Tinder is the darling of the group, Match.com has been doing well too. According to CNN Money, the company raked in an operating profit of more than $240 million last year.