IAC’s Match.com buys OkCupid online dating site
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Valentine’s Day must be on billionaire Barry Diller’s mind –- his Internet company IAC just spent $50 million to buy online dating site OkCupid, adding to a portfolio that already includes Match.com and Chemistry.com.
While 16-year-old Match charges membership fees and attracts a more mature crowd, younger singles flock to 7-year-old OkCupid, which generates income through advertising.
Match, which is responsible for a huge chunk of IAC’s revenue, has also snatched up other sites such as Singlesnet and People Media.
OkCupid co-founder Sam Yagan will stay on to help lead the New York-based start-up, which also operates a research branch called OkTrends. Through a blog, researchers analyzes statistics from the site and post revelations about “The Mathematics of Beauty” and “The Big Lies People Tell In Online Dating.”
Diller recently stepped down from the chief executive post at IAC and is now chairman.
-- Tiffany Hsu