"It's going to be what it's going to be," he told CNBC's "Squawk on the Street." "You take these projections, and you can take them so high, so for us, it just seems sensible—it'll be what it'll be—and let's not get crazy before it is."
He said Tinder has experienced "enormous growth" and its paid subscription model has attracted hundreds of thousands of customers since it launched in March, "vastly more" then IAC ever anticipated. However, he said he didn't want market froth to affect the business.
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"Our responsibility is to grow it sensibly and to be, in our own minds, prudent and skeptical, while at the same time pushing it every way we can on the ground," he said.
Asked exactly how much of Tinder IAC owns, Diller said it was more than 60 percent, but less than 95 percent.
Those who assume the true value of Tinder is in the billions of dollars are making a speculative bet, he said.
"I would look instead at the values inside the company and pay attention to either those achieved or near-achieved values," Diller said.