IAC Acquires DateHookup
NEW YORK, Aug. 31, 2012 /PRNewswire/ -- IAC (Nasdaq: IACI) today announced it has completed the acquisition of one of the largest ad-supported online dating sites in the United States, DateHookup.com. Through the acquisition, DateHookup will join IAC's portfolio of online dating businesses, which generated more than $500M in revenue in 2011. Terms of the deal were not disclosed.
"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."
DateHookup was founded in 2002 and has grown to become the 6th most trafficked online dating website, with over a million unique visitors every month.
IAC (NASDAQ: IACI) is a leading media and Internet company comprised of more than 150 brands and products, including Match.com, Ask.com, CollegeHumor, and CityGrid Media. Focused in the areas of Search, Match, Local and Media, IAC's family of websites is one of the largest in the world, with nearly a billion monthly visits across more than 30 countries. The company is headquartered in New York City with offices in various locations throughout the U.S. and internationally. To view a full list of the companies of IAC, please visit our website at www.iac.com.