Ask Parent IAC Acquires DateHookup To Pump Up Revenue
IAC has completed the acquisition of the ad-supported dating site for an undisclosed sum. DateHookup generated over $500 million in revenue in 2011.
“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.”
Other IAC dating properties include: Match.com, OKCupid, Chemistry, BlackPeopleMeet.com, SeniorPeopleMeet.com,SinglePeopleMeet.com, LoveAndSeek.com, BBPeopleMeet.com, and Singlesnet.com.