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The Match Group also revealed that Tinder closed the year with 1.7m paying subscribers, more than doubling the previous year’s total of 0.8m.Match Group Chairman & CEO Greg Blatt said: “Match Group executed well in our first full year as a public company.
Speaking about the decision to sell the company, Greg Blatt said: “The Princeton Review is a great company but it has become increasingly clear to us that its differences from our core dating businesses meaningfully exceed its similarities.
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A Chinese dating site 20% owned by Match Group, Zhenai.com, is being courted by aviation and drone company DEA General Aviation.
DEA wants to acquire the dating site as part of its “Internet Plus” strategy, aiming to integrate the dating service into its home appliance business, according to Reuters.
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Founded in 2004, last year Zhenai revealed it had over 100m registered users and reported annual revenues of 5.6m.
The dating business also posted net profits of m in the October 2016 filing.
“Accordingly, this transaction allows us to focus on businesses closer to home, while placing TPR in an environment where we expect to see our vision of an integrated, digital one-stop shop for students realized soon, albeit in different hands.” Other financial results include that Match Group’s adjusted EBITDA increased 29% from .3m to 8.5m, and net income rose 107% from .6m to .8m Check out the full Q4 results here. Born in Newcastle, he has an English degree from Queen Mary, London and after working for the NHS, trained as a journalist with the Press Association.
Passionate about music, journalism and Newcastle United.
The Match Group has capped off another strong year with the release of its Q4 2016 results, as it announces plans to sell The Princeton Review.