Skip to main content

Match Group Buys PlentyOfFish For $575M To Bag More Singles




A spot of consolidation in the online dating space today, with Match Group, the subsidiary of Tinder and OkCupid owner IAC, announcing it has agreed to acquire PlentyOfFish (POF) for $575 million in cash. Match Group said it expects the transaction to close early in the fourth quarter, pending Canadian regulatory approvals.

The acquisition looks squarely focused on snagging a fresh pool of digitally active singles to feed into its portfolio of digital services. With dating apps’ free-at-the-point-of-use model superseding desktop era subscription-for-access online dating there’s greater need for businesses in the space to ramp up their volume of users to boost conversions to paid services.

Tinder, for instance, flicked the monetization switch this spring, launching Tinder Plus: a monthly subscription that gives access to features such as a Rewind option for those who swipe too quickly and regret consigning a potential match to the virtual dustbin. Such business models flourish when there’s plenty of fish for them to hook too.

Add to that, 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, commenting on the POF acquisition in a statement. “I look forward to working closely with Markus and extending the company’s impressive growth trajectory.”

“I am confident that Match will help accelerate our growth even further,” added Markus Frind, CEO of PlentyOfFish, in another supporting statement. POF was founded back in 2003 in Canada by Frind, who bootstrapped the business, retaining control and sole ownership of the company — and is now headed for a $575M cash out (once the deal closes).

The POF acquisition adds some 3 million daily actives and +1 brand to IAC’s digital media portfolio of more than 150 brands and products, and more than 20 operating businesses. While its Match Group subsidiary covers around 50 brands in the dating, education and fitness space. Safe to say it sees plenty of cross-marketing opportunities for the new tranche of digitally active singles it’s gaining by buying POF.

IAC reports having more than 370 million unique monthly users in total and more than 2.5 billion monthly visits to its entire portfolio of sites.
Labels:

Comments

Post a Comment

Popular posts from this blog

Samsung Galaxy S5 Review and Giveaway

Few smartphones are as aggressively marketed as Samsung’s Galaxy S5. The S5 can no longer be considered brand-new — but it  is  Samsung’s flagship, at least for the next few months. With a gorgeous screen, a capable camera, a waterproof build, and a user-replaceable battery, the Galaxy S5 has a lot to offer… at least on paper. Let’s find out how good it really is. What Makes This Review Different There are about a million Galaxy S5 reviews out there. Why should you read this one? Two keys points make our review different: We bought our own device . Unlike many tech blogs, we don’t use a review unit Samsung gave us. We went out to the store and bought one, just like you would. This means everything you read here is truly impartial – we owe Samsung nothing. We used it for more than a month . Some sites rush to be the first to publish a review on a new device. That’s not how we do things. I used the Galaxy S5 as my main (and only) Android phone for nearly two months,...
Read more

Samsung Galaxy Note 3 N9000 Review and Giveaway

When it comes to massive phones, nothing is more iconic than the Samsung Galaxy Note. It has gained popularity not only due to its size, but its additional features such as a stylus and a larger battery make it a more useful phone. Samsung released the third generation of the Galaxy Note in October, updating the phablet with a larger screen and improved hardware. Read through our review, then join the giveaway to win the  Samsung Galaxy Note 3 ! Competitors Of course, other Android competitors haven’t let the $640  Galaxy Note 3  be the only player in the phablet market. There are others such as the  Sony Xperia Z Ultra , the Samsung Galaxy Mega , and the other more common phones that are reaching 5″ screens such as the  Samsung Galaxy S4 , the  HTC One , and the  Nexus 5 . Unlike the normal-sized top contenders, the Galaxy Note 3 has a bigger screen and larger battery. It also offers specific features (surrounding the S Pen stylus) th...
Read more

Ex-Skypers Launch Virtual Whiteboard Deekit

Although seriously long in the tooth and being disrupted by a plethora of startups, for many years Skype has existed as an almost ubiquitous app in any remote team’s toolkit. So it seems apt that a new startup founded by a team of ex-Skype employees is set to tackle another aspect of online collaboration. Deekit, which exits private beta today, is a virtual and collaborative whiteboard to help remote teams work smarter. The Tallinn, Estonia-based startup is headed up by founder and CEO, Kaili Kleemeier, who was previously a Head of Operations at Skype. She and three colleagues quit the Internet calling giant in 2012 and spent a year researching ideas in the remote team space. They ended up focusing on creating a new virtual whiteboard, born out of Kleemeier’s experience collaborating with technical teams remotely, specifically helping Skype deal with incident management. “Working with remote teams has been a challenge in many ways – cultural differences, language differences, a...
Post a Comment
Read more