Match Group, a subsidiary of IAC/InterActiveCorp and the undisputed shark in the online dating pond, just swallowed another fish: Today, the global operator of dating sites including Match, Tinder and OKCupid, announced that it will acquire PlentyOfFish for $575 million.
Vancouver, Canada-based PlentyOfFish was launched in 2003 by Markus Frind, and currently has more than 3 million active users, according to its website.
Meanwhile, Match Group -- which in addition to big names such as Match, OkCupid and Tinder, includes smaller dating sites like HowAboutWe, SpeedDate.com and OurTime.com in its roster -- has a 22 percent share of the $628.8 million dating app marketplace, according to a report from IBISWorld. In 2014, Match Group generated revenues of $897 million, representing almost 30 percent of IAC's $3.1 billion in total revenue.
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In June, IAC announced that it is preparing its dating service business for an IPO.
In general, online dating sites and apps are becoming increasingly popular with the American public. According to a 2013 Pew Research Center study, approximately 11 percent of American adults have used an online dating site or a mobile dating app, and market research firm IBISWorld predicts the dating industry in the U.S. will grow at an annual rate of 4.2 percent from 2014 through http://www.sexonadate.xyz 2019.
"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 http://www.shaggirls.xyz products and deepens the lifetime relationship we have with our users across http://www.dateandshag.xyz our portfolio," Sam Yagan, Match Group's CEO, said in a statement. "I look forward to working closely with Markus and http://www.singlessites.xyz extending the company's impressive growth trajectory."
Match Group said it expects the acquisition to close in the early fourth quarter.
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