Match.com Acquires Online Dating Site OkCupid For $50 Million In Cash
IAC’s Match.com is continuing its acquisition strategy today with the purchase of online dating site OkCupid for $50 million in cash. The deal also includes future earnouts contingent upon performance.
While Match.com has a significant userbase, OkCupid singles tend to be younger, which is why Match found it to be a useful acquisition. The site, which is free, apparently generates revenue via advertising and according to IAC, has “been the fastest growing dating site in the advertising-based category.”
OkCupid, which has raised $6 million in funding, was co founded by Max Krohn, Sam Yagan, Chris
Coyne and Christian Rudder. Match has previously acquired dating site Peoples Media for $80 million and most recently Singlesnet.
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