TECH CRUNCH - July 14 - Match Group has agreed to acquire PlentyOfFish (POF) for $575 million in cash and expects to close early in Q4. Tinder flicked the monetization switch this spring. Singles are a core demographic for marketing other types of self-improvement services where Match/IAC also plays.
"As more people than ever use more dating apps than ever with more frequency than ever, PlentyOfFish’s addition both brings new members into our family of products and deepens the lifetime relationship we have with our users across our portfolio," said Sam Yagan, CEO of The Match Group. "I look forward to working closely with Markus and extending the company’s impressive growth trajectory." The acquisition adds 3 million daily actives to IAC’s digital media portfolio of more than 150 brands and 20 operating businesses. Match Group covers ~50 brands in the dating, education and fitness space. IAC reports 370 million unique monthly users and 2.5 billion monthly visits to its entire portfolio.
Mark Brooks: Recently Markus said he was at a $100 million revenue run rate. Match bought Singlesnet, OKCupid, then Datehookup. So the writing has been on the wall for some time. It was just a matter of price. Tinder showed that Match Group could seed and grow a credible threat to the POF business. It's a good time for Markus to join with Match Group, and cash in his chips.
This post also appears on InternetDatingInvestments.