Investors Shouldn’t Be So Quick to Swipe Left on Tinder’s Owner

Facebook’s plans to launch a dating service shook IAC and Match.com shares, but there’s room for two in this market

The search for a soul mate has become a big business. In the U.S., one in three dates now begins online. The global market for online dating services—about 500 million people—is expected to reach 672 million by 2019, according to research by Jefferies.

The business has been lucrative for the biggest player, InterActiveCorp and its listed...