With Valentine’s Day around the corner, you can hear the 1978 classic song “Love Is In The Air” by John Paul Young playing all over and for Match.com, love means business, big business in fact. Match.com, owned by IAC, has bought rival OKCupid for a whopping $50 million in a cash transaction so the two online dating sites are finally tying the knot or if you prefer, getting hitched. Pun intended.
Unlike Match.com which charges for membership, OKCupid is free, so revenues come from advertising. And according to IAC, OKCupid’s revenue has risen faster than that of any other dating site. Probably because people have been hit hard with the economy and have looked for free access to online dating.