NEW YORK (TheStreet) -- Shares of IAC/InterActiveCorp (IACI) were jumping, up 6.28% to $82.11 in pre-market trading Thursday, after the company announced plans to spin off The Match Group, which includes the websites Match.com and OurTime.com, and the Princeton Review.
The company also owns the dating website Tinder.
IAC/InterActiveCorp said it is planning an initial public offering of its Match.com dating business
The company said Match will issue less than 20% of its common stock in the IPO, which is expected to be completed in the fourth quarter.
"I've long felt that as entities grow into size and maturity it's healthy to give them separation and independence from a mother church," chairman Barry Diller said in a statement.
New York City-based IAC/InterActiveCorp is a media and Internet company organized into four segments including The Match Group, search & applications, media, and e-commerce.
The Match Group consists of dating, education and fitness businesses with brands, such as Match, OkCupid, Tinder, The Princeton Review and DailyBurn.
Separately, TheStreet Ratings team rates IAC/INTERACTIVECORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate IAC/INTERACTIVECORP (IACI) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income."