IAC Positioned to Take Over How About We

How About We
  • Sunday, July 13 2014 @ 07:30 am
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The reach of IAC in online dating is enviable to its competition. The company owns Match.com, OkCupid, and has a majority stake in Tinder, and now they are looking to acquire a new company with a sizable chunk of the online dating market – How About We.

The buzz has already been growing about the possible acquisition, at least among the company’s employees. When there’s speculation about such a move, the first thing on employees’ minds is – will we still have a job after this acquisition happens?

According to a letter obtained by Business Insider, co-founder Brian Schechter addressed employees directly about the matter:

Indeed, we are still finalizing a deal and zero final decisions have been made. That a deal is even a possibility should remain completely confidential. I know this is a bumpy – and let’s face it – a weird moment but we should proceed in a manner that is really smart, graceful, and empowering for everyone.

It is a strange move considering the recent history of How About We. Earlier this year the company snatched up Nerve.com to compete with IAC. How About We wanted to build its brand in a different way – through its content and unique premise, including three new websites created in addition to Nerve.com. They also wanted to appeal to couples as well as singles, putting more marketing efforts into their How About We for couples date planning service. Most importantly, they wanted to distinguish themselves from the online dating giant IAC.

Despite the potentially lucrative news for co-founders Brian Schechter and Aaron Schildkraut, things have not been going smoothly, at least as far as employee trust and loyalty.

According to Business Insider, to whom the original letter was leaked, one staffer claims many employees had individual meetings with Schechter and Schildkrout last week on Wednesday and Thursday in a glass-walled conference room. During those meetings, the staffer said they were notified they could be fired due to budgetary restrictions when the company transitions to IAC. The founders relayed that after Monday they would know "how many people can stay."

However, it was also reported that three employees were later texted that they would be able to keep their jobs. However, Schechter recanted the offer when one of those employees reminded him of a recent raise.

Regardless of what ends up happening with the acquisition, the handling of it has been anything but “smart, graceful or empowering.” Maybe it’s time for How About We to end the date and move on.