The OPW/iDate Weekly News Summary.
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:~ TOP ONLINE PERSONALS WATCH NEWS ITEMS ~:
Match Group Buys PlentyOfFish For $575M
TECH CRUNCH - July 14 - Match Group has agreed to acquire PlentyOfFish (POF) for $575 million in cash and expects to close early in Q4. Tinder flicked the monetization switch this spring. Singles are a core demographic for marketing other types of self-improvement services where Match/IAC also plays.
"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 products and deepens the lifetime relationship we have with our users across our portfolio," said Sam Yagan, CEO of The Match Group. "I look forward to working closely with Markus and extending the company’s impressive growth trajectory." The acquisition adds 3 million daily actives to IAC’s digital media portfolio of more than 150 brands and 20 operating businesses. Match Group covers ~50 brands in the dating, education and fitness space. IAC reports 370 million unique monthly users and 2.5 billion monthly visits to its entire portfolio.http://www.onlinepersonalswatch.com/new ... 575m-.html
Hackers Threaten To Expose 37 Million Cheating AshleyMadison Users
GIZMODO - July 20 - A hacker group going by the name "The Impact Team" is demanding Ashley Madison to shut down otherwise they are going to expose all of its members. They have already posted a small sample of sensitive data (since taken offline) stolen from Avid Life Media, the company that owns AshleyMadison, along with other hookup sites Cougar Life and Established Men. CEO Noel Biderman confirmed the hack, and said the company was working hard to have the data taken down.http://www.onlinepersonalswatch.com/new ... users.html
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Paktor Lands $7.4M To Go Beyond Dating And Into Friendships
TECH CRUNCH - July 14 - Paktor, a service focused on Southeast Asia, has closed $7.4M Series B round that will go towards expanding its userbase and developing beyond dating to social discovery. Paktor raised $3M last Nov. Its registered userbase rose from 1.5M in Nov to ~5M today. Southeast Asia and Taiwan are their biggest markets. Indonesia, which has the world’s largest Muslim population, is on track to overtake Taiwan. Now, Paktor is focused on making its mark in other parts of Asia, particularly Japan and Korea. While Paktor doesn’t have a premium membership, it has tested features such as gifting, search base on premium metrics, and contacting 'top' users on each country’s leaderboard. It also runs group chat rooms.http://www.onlinepersonalswatch.com/new ... ships.html
Jiayuan Committed To Buyout
FORBES - July 13 - Jiayuan is still committed to the privatization process that could end with its departure from New York and re-listing of its shares in its home China market. The reason is that investors are far more likely to get excited about a stock when they’re familiar with its name and business model, giving it a better valuation than it would get from less familiar buyers in overseas markets. That's why most companies choose to make their primary listings in their home stock markets.http://www.onlinepersonalswatch.com/new ... uyout.html
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The Match Group Spin-Off Preliminary Bullish Thesis
SEEKING ALPHA - July 13 - IAC is planning to spin-off its Match Group and pursue an IPO for the new company. IAC has a history of successful spin-offs of significant business such as Expedia, LendingTree, TicketMaster and Home Shopping Network. The Match Group dominates ~50% of the $2.2B eDating market. 88% of Match group revenues are generated in the dating business. Tinder held ~70% of the mobile dating market and tripled its reach between Nov '13 and Mar '15. If Tinder could convert ~2% (typical freemium conversion rate) of its 50M users to a $20 per month, it could drive an additional $240M per year, which is ~25% of Match Group dating revenues in 2014.http://www.onlinepersonalswatch.com/new ... hesis.html
How Match.com's Founder Walked Away With $50K
BUSINESS INSIDER - July 15 - In 1994, when only ~5% of Americans had Internet, Gary Kremen took a $2,500 advance on his credit card to buy the domain name Match.com. Today, Match is one of the most-visited dating sites in the country. According to comScore, it attracted ~6M unique visitors in May 2015. 2 years after founding the company, Kremen walked away with just $50K. In 1993. Kremen was paying $2.99 per minute on 900-number dating services. He found it inefficient so he founded Electric Classifies, an online personals database. Late in 1994, he secured ~$1.5M in funding. Match went live in April 1995. Deepak Kamra, the lead VC at Canaan Partners responsible for the Match investment, said the early content was “borderline porn.” The VCs had serious doubts about Kremen’s management skills. They removed Kremen from the CEO post in mid-1995.http://www.onlinepersonalswatch.com/new ... h-50k.html
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High-Growth Indian Matrimonial Matchmaking Market Beckons Investors
BUSINESSWIRE INDIA - July 17 - The average Indian spends ~$25K on the entire matchmaking and wedding ceremony process. The wedding services market in the country is worth ~$36B. New analysis from Frost & Sullivan, Investment Opportunities, reveals that the top 3 Indian matchmaking sites have accounted for ~5M marriages in the last decade. Shaadi.com has 10K new registrations a day and 3M active users looking for spouses.http://www.onlinepersonalswatch.com/new ... stors.html
Her, A Lesbian Dating App, Launches In US
FAST COMPANY - July 16 - Her, a lesbian UK based dating app, is launching in US. The app was founded two years ago under the brand name Dattch. Her was designed to encourage conversation between users until they know enough about each other to meet in person. While Dattch was a pure dating app, Her expanded to become a digital place for queer women to converse. While Her raised $1M in March, they’ve yet to nail down a monetization strategy.http://www.onlinepersonalswatch.com/new ... in-us.html
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