Dating app Tinder now worth $5 billion

FILE - This Oct. 24, 2013 file photo shows a youth checking his smartphone in Glenview, Ill. Local police may be tracking your cell phone. But they’re regularly censoring information about how the technology’s used or how much it costs taxpayers. Police departments nationwide have released incomplete details about a phone-surveillance tool known as a Stingray, and have blacked out or denied contracts with the device’s maker. Even in states with strong freedom-of-information laws like Florida and Arizona, police say law-enforcement sensitivities and non-disclosure agreements have forced them to stay mum following public inquiries. (AP Photo/Nam Y. Huh, File)
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Dating app Tinder is apparently so popular that it is now worth $5 billion, Bloomberg News reports.

It’s almost worth as much as its majority owner InterActiveCorp, according to Bloomberg’s Serena Saitto.

IAC recently bought another 10 percent of Tinder from venture capitalist Chamath Palihapitiya for $500 million, according to people with knowledge of the deal. That values the 20-month-old company with 10 million daily users at $5 billion, compared with IAC's market capitalization of about $6 billion.

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IAC also runs dating websites Match.com and OkCupid.com.

The Tinder app matches people up in the same area based on mutual likes and allows users to like or pass on a potential date with just a swipe.

(H/T Slate)