Shares of Match Group whipsawed in its trading debut Thursday, soaring 15 percent at one point from its initial public offering price of $12. Stock later ended the session at $14.74, up nearly 23 percent from the open.
The parent of Tinder, OkCupid and other online dating services had priced its IPO to raise $400 million, a person familiar with the matter told Reuters, valuing it at around $4.2 billion, including debt.
Its stock began trading on the Nasdaq under the ticker MTCH. Its prices on Wednesday was the low range of $12 to $14 a share.
The Texas- based company, owned by media mogul Barry Diller's IAC/InterActiveCorp, has developed online dating sites that work well on smartphones, attracting busy young professionals that are highly coveted by advertisers.
"Tinder has been great for us," Greg Blatt, Match Group's chairman, told CNBC's "Squawk Box.". "Our category has been around for a long time, but historically it had been an over-30s-type crowd or late 20s. Tinder really opened up the entire 20s population for this category."