What is OkCupid’s stock price, and are they publicly traded? Investors cannot purchase shares of OkCupid because they are a private company. Bumble (NASDAQ: BMBL) and Match Group Inc (NASDAQ: MTCH) are dating site stocks that traders can invest in.
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 came at the same time as the dating app Bumble Inc (BMBL) made a blockbuster debut on Nasdaq.
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OkCupid Introduction (No Stock Symbol)
Many speculate 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 wants to raise $230 million for his new SPAC. Christian Rudder, co-founder of OkCupid, will reportedly be on the board of the new SPAC, while Phil Schwarz, a former Tinder executive, will be its chief strategy officer.
According to its recent filing with the U.S. Securities and Exchange Commission, the SPAC will explore a potential acquisition in the social media and online dating space—the SPAC’s top leadership has a lot of experience in the dating app market.
Moreover, mentioning online dating as one of the areas for making a purchase strongly suggests that the blank check company could target famous dating apps such as OkCupid. Then maybe we’ll see an OkCupid stock.
1. Match Group Inc. ($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, and 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 find 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. 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.
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Financial Performance & 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 ending 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 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.
2. Bumble Inc. (BMBL)
Bumble is a female-focused dating app 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 the dating app Badoo.
Wolfe Herd launched the app to create a comfortable online dating space for females. Bumble differs 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 Match Group’s biggest competitor. Which could be quite enticing for an OkCupid stock.
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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, the 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, which 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 nine months ended Sept. 30, up from $362.6 million during the same period of 2019. This could be really attractive information for making an OkCupid IPO.
Top Players in the Dating-App Market
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 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 saw the success of Bumble’s IPO, we could see more and more dating apps coming to the public market. If we see an OkCupid stock price, it may be as successful as Bumble.
Final Thoughts: OkCupid Stock
OkCupid stock isn’t on the market yet. But with the success of Bumble going public, we could see that it is enticing to other dating apps. Therefore, we could see an OkCupid IPO at some point. So look if you want to add dating apps to your investing portfolio—another one to watch is TikTok Stock. While not quite a dating app YET, it does have a lot of hype and potential.
