Match Group buys Canadian dating site PlentyofFish
TORONTO (AP) — The Match Group, the New York-based company that owns dating websites Match.com, OkCupid and Tinder, said Tuesday that it has purchased Vancouver-based dating website PlentyOfFish for $575 million.
Match Group CEO Sam Yagan said it was attracted to PlentyOfFish's consistent growth, and it plans to integrate the Canadian company's mobile app into its existing family of digital and online dating services.
CEO and founder Markus Frind launched the company from his apartment in 2003. By 2008, Frind had 15 million users.
In March, PlentyOfFish surpassed 100 million users.
The Match Group said the deal is subject to approval from Canada's federal industry minister and is expected to close early in the fourth quarter.
"We are thrilled to be joining forces with Match," Frind said in a statement. "My team and I have grown PlentyOfFish into one of the leaders in our category, and I am confident that Match will help accelerate our growth even further."
The Match Group offers dating products through nearly 50 brands in 40 languages around the world.
About 31 million Americans have used a dating site or app, according to a 2013 Pew Research Center study.
The Match brands and PlentyOfFish both make revenue through a combination of advertising and paid subscription options.