Match Group will acquire the dating site Plenty Of Fish for $575 million in cash. (That is a lot of cash!) This acquisition will further solidify the monopoly Match has in online dating. Match Group currently owns Tinder.com, Match.com and OKCupid.com. All together it is said they have about 50 different brands in the online dating world. They have been buying established dating sites for a while now. You may remember back in 2010 when Match Group purchased Singlesnet.com which as of 2014 redirects to Match.com.
POF Vancouver, Canada based Plenty Of Fish was started in 2003 by Markus Frind, who has held on to complete ownership of the company, will receive $525 million when the deal is completed. Both Match Group’s IPO and the Plenty Of Fish acquisition are expected to be completed by the end of 2015 according to The Wall Street Journal.
With the popularity of online dating and even more so with all of the mobile apps, online dating is big business. Match Group CEO Sam Yagan stated that he had his eye on Plenty Of Fish for over a decade. “As more people than ever use more dating apps than ever with more frequency than ever, Plenty Of Fish’s addition both brings new members into our family of products and deepens the lifetime relationship we have with our users across our portfolio” he said.
Dating sites are expected to reach about $1.17 billion in revenue for 2015. Match Group is rumored to have roughly 22% of that market already. The purchase of Plenty Of Fish will add its over 90 million registered users as well as 3.6 million active daily users to their member database.
What Does This Mean For Plenty Of Fish Members?
Well, nothing yet but only time will tell. There may or may not be some more monetization efforts in the future as in the case a recent upgrade to the Tinder app. This is purly speculation at this point. Plenty Of Fish already has a subscription service in place and offers premium membership that extends the capabilities of a standard membership. Tinder also offers similar services. As of now the site functions as it always has. So continue to use your POF login as you normally would and meet singles for dates.