Match.com Buys OKCupid for $50 million
Match.com just found its own match by buying dating site OKCupid for $50 million. Mashable has more:
OkCupid, an increasingly popular site, generates most of its revenues through advertising (it’s mostly free to use — making it popular among members who are strapped for cash), and, according to a release, it has been the fastest growing dating site in the advertising-supported bracket this year. Therefore, we can see how it would be attractive to Match.com, which is — for its part — a paid service.
“We know that many people who start out on advertising-based sites ultimately develop an appetite for the broader feature set and more committed community, which subscription sites like Match.com and Chemistry.com offer, creating a true complimentary relationship between our various business models,” says Greg Blatt, CEO of IAC.
My guess is that they’ll keep OKCupid free, since it’s a solid ad revenue earner, and put a concerted effort into luring users into Match.com.