Match now owns just about all dating sites

0

Opinions expressed by Contractor the contributors are theirs.

You are reading Entrepreneur United States, an international Entrepreneur Media franchise.

Match Group, a subsidiary of IAC / InterActiveCorp and the undisputed shark of the online dating pond, just swallowed another fish: today, the global operator of dating sites like Match, Tinder and OKCupid, announced that it will acquire PlentyOfFish for $ 575 million.

Coffee meets bagel

PlentyOfFish, based in Vancouver, Canada, was launched in 2003 by Markus Frind and currently has over 3 million active users, according to its website.

Meanwhile, Match Group – which, in addition to big names like Match, OkCupid, and Tinder, includes smaller dating sites like HowAboutWe, SpeedDate.com, and OurTime.com in its roster – owns 22% of the company’s shares. $ 628.8 million dating app. market, according to an IBISWorld report. In 2014, Match Group generated revenues of $ 897 million, or nearly 30% of IAC’s $ 3.1 billion total revenues.

Related: 6 Dating Apps That Bring Love Searching New Life

In June, IAC announced that it was preparing its dating services business for an IPO.

In general, online dating sites and applications are becoming increasingly popular with the American public. According to a 2013 Pew Research Center study, about 11% of American adults have used an online dating site or mobile dating app, and market research company IBISWorld predicts that the dating industry in the United States States will grow at an annual rate of 4.2% from 2014 until 2019.

“As more people than ever use more dating apps more frequently than ever before, the addition of PlentyOfFish both brings new members to our product family and deepens the lifelong relationship we have. with our users across our portfolio, ”Sam Yagan, CEO of Match Group, said in a statement. “I look forward to working closely with Markus and expanding the company’s impressive growth trajectory.”

Match Group said it expects the acquisition to be completed early in the fourth quarter.

Related: The Weird Ways Niche Dating Services Connect People


Source link

Leave A Reply

Your email address will not be published.