OkCupid, the U.S. online dating company, has been sold to Match.com, an operating business of IAC (Nasdaq: IACI) for $50 million in cash, plus potential future payments contingent upon performance. Unlike IAC’s other dating sites, OkCupid generates revenues primarily through advertising, and over the last year has been the fastest growing dating site in the advertising-based category. “OkCupid has been a real innovator in our space, and the dating environment they’ve created has struck a chord with a younger demographic. I think it’s clearly the best site in its competitive set, with better features and a more distinctive personality than any other advertising-based site,” said Greg Blatt, CEO of IAC. With a team led by Jon Guido, America’s Growth Capital acted as sole financial advisor to OkCupid.
This marriage offers us the best of both worlds: the autonomy to continue pursuing OkCupid's original vision and the ability to leverage Match's reach and expertise to grow even faster. Jon Guido and the team at AGC were instrumental in helping us determine which party was the best fit and did whatever was needed to bring our transaction to a close. I would strongly recommend AGC as an M&A advisor.Sam Yagan, CEO of OKCupid
AGC acted as sole financial advisor to OKCupid in January, 2011