Match.com Buys OkCupid
Online, subscription-based dating site giant Match.com has acquired online, free dating site OkCupid for $50 million, in a deal that also includes future earnouts based on the site’s performance. Match.com was interested in OkCupid because the free dating site has a younger user base, a market Match was obviously interested in entering. According to IAC, Match’s parent company, OkCupid is the fastest-growing dating site that generates revenue from advertising. Over the past few years, Match has been on a roll acquiring online dating sites, buying up People Media in 2009 and and Singlesnet in 2010, and can now add social-network-esque OkCupid to their catalogue.