With the U. The practice involves stock options. A company promises a worker the right to buy a share of of stock at a specific price, called the strike price. The strike price is typically tied to the value of the stock on a certain date-the hiring date for an employee, for example. That option is currently worth nothing. If that difference seems slight, imagine it multiplied by thousands-or even millions-of options. No-in fact, companies often do it as a way to lure top talent.
Lewis: I'm excited. Priestley: Okay, we'll see. I think it's a very interesting market.
So there's clearly a lot of people using it. I think any time you have this broad-stroke interest in a category, naturally investors are curious as to what's going on. So before we dive into one of the big companies involved in the space, do you want to paint a picture - in terms of some industry numbers - for the average users, and the size of this market?
Jan 28, Dating: this is when people go places and spend time together to get to know one another. They may go in groups, or as a couple. Ideally, they will go somewhere where they can talk and also do activities that they both enjoy. You can often see you. With respect to stocks split or dividends, a pay date is the date that a company pays a dividend or stock split out, which is usually the day before the ex-dividend date. Options backdating is the practice of altering the date a stock option was granted, to a usually earlier (but sometimes later) date at which the underlying stock price was lower. This is a way of repricing options to make them valuable or more valuable when the option "strike price" (the fixed price at which the owner of the option can purchase stock) is fixed to the stock price at the date.
Priestley: Sure. The industry is actually pretty large. So it has scope to grow. So it's actually not the younger people who you would expect to be dominating the market, although they certainly are active in it. Priestley: Yeah! Lewis: Yeah. They're kind of the only real way to play this market. If it's something you're interested in on the investing side, they're the only game in town, right? Priestley: Pretty much.
Lewis: So let's get a little bit of background on them. They have a portfolio of over 45 brands, which is huge. So they're kind of on a spending spree to buy up everybody that's operating in the market. They have 59 million active users across all of their brands, and 5. They're operating mostly in the U. Lewis: Which basically covers most of the globe, right? Depending on what stat you look at, there's to low s, in terms of countries in the world. So that's pretty good reach.
Priestley: Yep. In any country you're in, you can online date.
That's good. I'm not sure how I feel about that being part of the company. They want to move that online, and they have a lot of ideas about how they're going to improve that business.
It is interesting for them, but it fits strangely with the dating. And then, of course, the Princeton Review. IAC Interactive Corp, their parent company, is known for its online properties. We'll get into the revenue mix more there.
But Match really hasn't been directly public for a long time. As I alluded to, they were nested under this publicly traded IAC up until last fall. They only recently sprung off.
I think there are a couple different reasons for that. Do you want to touch on that a little bit? Priestley: Yeah.
With Apple facing a federal investigation into its stock option backdating practices, we look at what the rules are, what regulators are looking at, and what's next for the jankossencontemporary.com: Lisa Schmeiser. Previous thermoluminescence dating at Jinmium yielded ages of 50, to 75, years for quartz sands found near buried circular engravings and ages of , to , years for lower, artifact-bearing deposits (SN: 9/28/96, p. Mar 01, Photograph: Alamy Stock Photo In an age of dating apps, read receipts and socially acceptable stalking, a whole new confusing lingo has emerged.
I don't know that that necessarily played into the decision, but I imagine it was part of the discussion, certainly, because when they spun off Match, they spun off that debt responsibility onto a different entity.
They clearly want to keep a foot in the door with online dating. Lewis: Yeah, when you hear "spinoff," sometimes you think, this is a company just bailing on a bad business. I mean, it's clear that they think this is a really great business. They wouldn't be holding on to that much of it if they didn't think that. It's one of those things, as Fools, that we really like, because it shows they have skin in the game.
They may be going public, they may be accessing some capital, but they want to see this business succeed as much as investors do. Why don't we talk a little bit about the revenue breakdown, and what Match's top line looks like?
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Priestley: Absolutely. So you can see they're shifting toward the international segment. And I think, over time, you're going to continue to see that shift. We talked a little earlier about the huge market potential in China. Priestley: By the end of this year, yeah.
I think, when you look at this business, that's one of the huge opportunities there, getting outside the U. I think there's a decent runway there. What do you think? Priestley: I'm not sure, either. I think, if they can crack that, that would be fantastic, because they have 5.
I think if they can tap into that potential, that's going to be huge for them.
My reservation, and your reservation, too, is whether they can do that as seamlessly on a dating site. With this, it's very much, you're going on there to find a date. The example you flippantly used was Tide pods: You don't want to come across an ad for Tide pods when you're looking for your next date.
It's true. They're going to have to be very selective about what they choose. They're going to have to be clever in the way that they do it. And they've hired a very notable ad exec to help them do that. Potentially, they will crack it.
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They're resting a lot on the monetization, particularly, of Tinder. We'll see. You look at Tinder - for our listeners who aren't as familiar with it, it's a very bare-bones interface. It's just an app with someone's picture, and you swipe right or swipe left.
I reopened my Tinder account prior to this show just to do a little market research, and I came across them advertising. It was an interesting novelty approach to advertising. I think that'll wear on people's patience pretty quickly. Priestley: I agree. It's not really in line with how people are using the service. Priestley: No, obviously. So, a smaller part of their business right now, but one of their other big opportunities, is with Princeton Review.
They want to move it to web-based. Obviously, that's going to reduce their fixed costs. And they also want to increase their offerings. There's a college counseling, which is a sideline offering they do now. They want to bundle everything together, and essentially be a one-stop shop for "If you want to get your kid into college, this is where you're going to go.
They feel that there's a lot of alignment between dating and Princeton Review, getting into college, because they think it's all about what you're looking for in life, what you're aiming to get to.
Maybe that's too much Priestley: There's a discussion around: A lot of analysts talk about cannibalization. Greg Blatt, who's the chairman and CEO, has been keen to dissuade people from this view. The issue is slightly more complex in that the soft-wall offering, which is where you don't pay initially. It's a freemium model; you start, and you can upgrade. Lewis: And the properties that operate on that, Tinder is one of them.
The soft-wall offerings are growing faster than their hard wall. A hard wall is Match. It's really easy to try out something like online dating for free. In case of sale of shares, when should the shares be given to the broker? Investing in equities Is there any provision where I can get faster delivery of shares in my account? Learn how to choose a stock Monitor and review power of compounding Prepare to invest Understand how the stock market works What are Bonus Shares?
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The split between dating and non-dating - dating comprises 90of revenue, and the Princeton Review is 10%. They see that becoming a bigger portion of their profits going forward, but at the. Dating is a stage of romantic relationships in humans whereby two people meet socially with the aim of each assessing the other's suitability as a prospective partner in an intimate jankossencontemporary.com is a form of courtship, consisting of social activities done by the couple, either alone or with others. The protocols and practices of dating, and the terms used to describe it, vary considerably.
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