$3B valuation sounds quite reasonable for Tinder. Even with Tinder Gold "resetting the metrics" with per transaction monetization.
$IAC total revenues last quarter was approx $1B. At market valuation ~$16B. I could be very wrong, but valuing Tinder at $10B seems upper bound optimistic to me. Match probably enjoys 10x engagement.
Market valuation in tech is all about growth, not revenue. The rest of the companies in The Match Group (Match, OkCupid, PlentyOfFish) are nowhere near as attractive to the younger generation.
$IAC total revenues last quarter was approx $1B. At market valuation ~$16B. I could be very wrong, but valuing Tinder at $10B seems upper bound optimistic to me. Match probably enjoys 10x engagement.