There is no OkCupid stock price for you to trade right now. But with the massive success of Bumble could we be seeing an OkCupid IPO coming soon? There’s no information on that yet. But there is a way to trade the company who owns OkCupid, along with other well known dating apps.
How Sam Yagan’s New SPAC Could Potentially Target Dating App OkCupid
Sam Yagan, co-founder of OkCupid and former CEO of Match Group, has recently filed to form a special purpose acquisition company (SPAC) named Corazon Capital V838 Monoceros Corp. The creation of the SPAC comes at the same time when dating app Bumble Inc (BMBL) made a blockbuster debut on Nasdaq.
Many are speculating that Yagan wants to capitalize on the recent boom in the dating-app industry. The creation of the SPAC is a part of that plan. Yagan is looking to raise up to $230 million for his new SPAC. Christian Rudder, co-founder of OkCupid, will reportedly be on the board of the new SPAC, while Phil Schwarz, former Tinder executive, will be its chief strategy officer.
The SPAC will explore a potential acquisition in the social media and online dating space, according to its recent filing with the U.S. Securities and Exchange Commission. The top leadership of the SPAC has got a lot of experience in the dating-app market.
Moreover, mentioning online dating as one of the areas for making a purchase strongly suggests that the blank check company could target famous dating-apps such as OkCupid. Then maybe we’ll see an OkCupid stock.
Top Players in the Dating-App Market Doesn’t Include OkCupid Stock Yet
The Covid-19 pandemic has made some permanent changes in our lives. One of those permanent shifts surrounds online dating apps, which have become a daily part of singles who are looking to meet their potential partners.
The pandemic-driven lockdown restrictions have greatly fueled the growth of online dating apps. Currently, Match Group (MTCH) and Bumble Inc. (BMBL) are regarded as the two biggest players in the online dating app industry.
With that being the case, could we see an OkCupid IPO coming soon? As they see the success that was Bumble’s IPO, we could see more and more dating apps coming to the public market. If we see an OkCupid stock price come, maybe it’ll be as successful as Bumble.
Match Group Inc. ($MTCH)
Match Group is the biggest company in the digital dating space, as it owns almost every notable dating site in the U.S. including OkCupid, Tinder, Hinge, Match.com, among others. Its history goes back to the 1990s when Gary Kremen, a Stanford Business School graduate, created Match.com to help older professionals in finding their partners.
In 1999, IAC bought Match.com for $50 million. Under the leadership of IAC chairman Barry Diller, Match.com became a leading dating firm in the United States. In 2008, Diller decided to create Match Group after splitting IAC into five separate entities. Match Group was formerly formed in February 2009.
Match Group expanded over the years by acquiring several companies. For instance, it bought People Media in a cash transaction valued at $80 million in July 2009. Two years later, it acquired OkCupid for $50 million. This could be a way to get OkCupid stock.
Match Group’s Financial Performance and Outlook
Earlier this month, Match Group reported strong financial results for the fourth quarter, mainly driven by improved demand for its dating apps. The online dating giant reported earnings of $140.6 million, or 48 cents per share for the three months ended December 31, in line with the consensus forecast of 48 cents per share.
Revenue came in at $651.4 million, translating to a surge of 19 percent from the comparable period of 2019. Analysts on average were expecting the company to report revenue of $648.8 million.
The company also provided its outlook for the first quarter. It expects to report adjusted Ebitda in the range of $210 million to $215 and revenue between $645 million and $655 million for the current quarter.
On the other hand, analysts expect Match Group to report adjusted Ebitda of $217 million on $647 million in revenue. So this could be a way to trade OkCupid stock.
Is There an OkCupid Stock Price?
There is no OkCupid stock price right now. You can trade both $BMBL and $MTCH. So while you can’t trade OkCupid itself, you can still get in on some dating app trading action. However, maybe in the future, we’ll see an OkCupid IPO come to the market.
Bumble Inc. (BMBL)
Bumble is a female-focused dating app that was founded in 2014 by Whitney Wolfe Herd and Andrey Andreev. Wolfe Herd is also one of the founding members of Tinder, while Andreev is the founder of dating app Badoo.
Wolfe Herd launched the app intending to make a comfortable online dating space for females. Bumble is a bit different from other dating apps, as it only allows women to make the first contact. The app had nearly 100,000 downloads within a year after its launch.
The app users crossed 22 million by the end of 2017. Around the same year, online dating giant Match Group tried to acquire the startup for $450 million, though Bumble refused its offer. Match Group once again approached Bumble and offered $1 billion but the talks reportedly failed.
Since then, Bumble has emerged as the biggest competitor of Match Group. Which could be quite enticing for an OkCupid stock.
Bumble’s Blockbuster IPO
Bumble recently went public by selling 50 million shares at $43 per share for total proceeds of $2.2 billion. Shares started trading on NASDAQ under the symbol “BMBL”. Then share price skyrocketed more than 75 percent on its trading debut, ending the day at $75.46. Its current market value is hovering around $8.6 billion.
The company mainly generates money through in-app purchases and various subscription offerings such as Bumble Boost and Bumble Premium that carry a weekly price of $12.99 and $17.99, respectively.
Bumble’s paid services allow users to perform certain actions such as making their profile more visible. Moreover, it also generates a small portion of revenue from ads and partnerships. The company reported revenue of $416.6 million for the 9 months ended Sept. 30, up from $362.6 million during the same period of 2019. This could be really attractive information to make an OkCupid IPO.
OkCupid Stock Conclusion
OkCupid stock isn’t on the market yet. But with the success of Bumble going public, we could see that an enticing to other dating apps. Therefore, we could see an OkCupid IPO at some point. So keep a look out if you want to add dating apps to your investing portfolio. Another one to keep an eye on it TikTok Stock. While not quite a dating app YET, it does have a lot of hype and potential.