Match Group buys free dating site PlentyOfFish for $575m
Free dating site PlentyOfFish has found a new suitor in the Match group, with the group acquiring it today for $575m.
With the acquisition Match Group, the dating business subsidiary of IAC which also includes Tinder and OkCupid, hopes to bag more digitally-savvy singles, as PlentyOfFish has 3 million daily users.
Sam Yagan, chief executive of the Match Group, commented in a statement:
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.
IAC reports having 370m unique monthly users, and will IPO its dating business by the end of the year.
The transaction is expected to close early in the fourth quarter of 2015.