Internet dating is undeniably popular, with 41 million Americans visiting a service every month. But as a business, investors have found the prospects unattractive.
Match Group, the biggest digital romance service, is out to prove it's the one.
The 20-year-old company is spinning out of IAC/InteractiveCorp and is slated to debut Thursday on the Nasdaq under ticker symbol MTCH.
While Match has more than twice the market share of its biggest competitor and has bulked up through acquisitions, the dating market has failed to excite Internet investors, who have poured money into search, social networking and e-commerce. One reason: When a dating site makes a user happy, that person ceases to be a paying customer, at least for a while.