We believe that the $0.57 average revenue per user that
Match Group reported in their Q2 2018 Investor Presentation
is just a fraction of the user profile's real value.
At the risk of taking the wrong thing away from this article...IAC is an undervalued stock?
Only if you assume that the market was not already aware of this and therefore has not already priced it in.
Companies are (at least theoretically) valued based on their future potential. Just because "real value" of user profiles may not currently be getting realized, does not mean that it isn't already incorporated into the value of the stock.
Unless you think marrige and long term relationships haven't seen the bottom yet, I can't imagine why dating website user information should be worth a lot as people find the person they want to be with and move on.
