Match.com will Acquire Singlesnet

Match.com
  • Contributed by:
  • Views: 7,822

It looks like the rumor was true (see Story), Match.com released a press release yesterday which confirm that they have made a deal to acquire the dating site Singlesnet.com. Financial terms of the deal have yet to be released but Match CEO Greg Blatt did state that Singlesnet will continue to be run largely as a standalone business. Adrian Ong of Match.com will be taking over the helm from the previous owner of Singlesnet, Quinn Lipin. Mr Lipin will still continue to work for Singlesnet.com as an executive.

Singlesnet was once the most visited dating site in the USA back in December 2008. Since then traffic has slowly declined with a major drop happening in February 2009 from 7 million unique visitors to just under 5 million.

They still receive a lot of traffic but the drop must have lowered the acquisition cost enough to make IAC (the owners of Match.com) think it was worth the price. Greg Blatt further stated:

While Singlesnet's traffic is currently in decline, we believe that by applying our category expertise we can reverse that trend, increase the site's profitability and improve the overall user experience. This is more of a value acquisition than a strategic one ...

I do wonder what Match.com paid for Singlesnet.com? Last year they purchased People Media for $80 million (see Story), so I would think Singlesnet would be worth almost as much.

PlentyofFish.com owner Markus Frind commented over on Online Dating Insider that this new deal was not good news for POF as they "share about 30% of our core user base with singlesnet in the US". With Match.com's marketing muscle behind Singlesnet.com soon, Markus must be worried about loosing visitors.

Check back often as we will post more details as they are released.

For more information on the dating sites mentioned in this article, read our Match.com review and our Singlesnet.com review.