IAC/InterActiveCorp (IACI) to buy back 10% of dating app Tinder for $500 million - Bloomberg

April 11, 2014 1:27 PM EDT

IAC/InterActiveCorp (NASDAQ: IACI) to buy back 10% of dating app Tinder for $500 million, Bloomberg reports.

IAC bought the stake from early Facebook employee and venture capitalist Chamath Palihapitiya, which places a new valuation of $5 billion on Tinder. Notably, IAC's entire market cap is $5.76 billion and Tinder makes up a tiny fraction of IAC's dating portfolio, which also includes: Match.com, Chemistry, PeopleMedia, okCupid, SpeedDate, DateHookup, Twoo, and others.

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