Contributed by: Editor on Monday, February 08 2010 @ 06:41 pm
Last modified on
Match.com and Meetic have created an equal partnership together in Latin America where the two dating companies will be combining their resources. According to the CEO of Match.com, Greg Blatt:
By combining ParPerfeito's strength in the Brazilian market with Match.com's presence in the rest of Latin America, we believe we're best positioned to drive that expansion and create an asset of meaningful value. We're confident from our work together in Europe that further partnering with Meetic will be a productive experience.
The online dating market is less mature in Latin American than the larger North America and Europe markets. By making a combined push now both companies feel that they will come out ahead in this merging dating market. Match.com will control the new entity's operations and will pay Meetic $3 million in cash at the closing (March 15, 2010). I am not sure what Meetic's responsibility in all this is but, I will assume that they must be required to push traffic to the new venture. At the beginning of the fourth year of operations Match.com has reserved the right to buy Meetic's share of the entity at fair market value.
When we receive more news about this new entity (like the name of the website) we will be sure to pass it on.
For more on the story read the press release[*1] .