Tinder is going public

tinder honest slogan

(Honest Slogans)

Online dating is going public.

IAC/InterActive, the media conglomerate run by Barry Diller, is preparing to take its Match unit public, which includes Match.com and Tinder.

IAC owns a majority stake in Tinder, the dating app that requires users to simply swipe right to "like" another user and swipe left to "pass."

In IAC's most recent quarter, the Match Group accounted for $239.2 million of IAC's $772.5 million in total revenues. The unit was also responsible for $25.9 million of IAC's $75.2 million in adjusted EBITDA during the first quarter.

In March, Tinder announced that Chris Payne, formerly in charge of eBay's North America operations, would take over as CEO. In February, analysts at Morgan Stanley took a look at the potential value of Tinder and concluded the company was unlikely to get young people — its core audience — to pay for the service.

Following the news, shares of IAC were up 6% in pre-market trade on Thursday.

NOW WATCH: This video of a slab of meat swiping right on Tinder is weirdly perfect

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