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Dealipedia - IAC acquires DateHookup

IAC acquires DateHookup

Deal Participants:
Acquiring Company: IAC View Profile Charts Homepage
Target Company: DateHookup View Profile Charts Homepage
Deal Financials:
 
Date:
Announced: Aug 31, 2012

PRESS RELEASE

Earlier this week, we reported that Ask.com has acquired About.com and The About Network. Now, Ask parent IAC has announced another acquisition – DateHookup.

IAC has completed the acquisition of the ad-supported dating site for an undisclosed sum. DateHookup generated over $500 million in revenue in 2011.

“DateHookup has built a sizable and active community of online singles in the U.S., reaching demographics and markets that complement IAC’s existing online dating companies. We can leverage our expertise and initiatives from our other sites to drive incremental contribution, improving an already attractive acquisition multiple,” said Lance Barton, Vice President of M&A for IAC. “This aligns with our strategy of acquiring companies where we can add real value and create long-term growth.”

Other IAC dating properties include: Match.com, OKCupid, Chemistry, BlackPeopleMeet.com, SeniorPeopleMeet.com,SinglePeopleMeet.com, LoveAndSeek.com, BBPeopleMeet.com, and Singlesnet.com.

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Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746
Aug 31 '12
This version submitted by Melg8Mike

 

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