Dating Group has entered into an agreement to acquire Cupid Media, an international dating company with 33 websites and a global presence for $51m (£36.77m).
The addition of Cupid Media’s websites will make Dating Group the largest global dating company in the world, touching every continent.
Cupid Media’s portfolio consists of 11 core sites, including AsianDating, LatinAmericanCupid, Muslima, FilipinoCupid, ThaiCupid, and InternationalCupid. Combined, the sites’ users send over 1.3bn messages per year. Dating Group will add these unique dating sites to its portfolio bringing its user base to more than 130m users.
Together, the sites will boast an average of seven million monthly active users.
After other recent successful acquisitions such as dating site, Once, Dating Group will expand its access to user behavior insights across cultures and geographies. This will enable the team to learn more about social behaviors and the value of meaningful relationships, adding to its social discovery purpose fueling - and redefining - the future of dating app user experiences.
It expects this latest acquisition of Cupid Media to increase its revenue to upwards of $300m.
“We find tremendous benefit in economies of scale and cross-marketing. We believe we will see substantial revenue growth on our current platforms and those we are acquiring simply by combining the strengths of both businesses,” said Chief Investment Officer of Dating Group, Bill Alena. “With this acquisition, Dating Group will expand its geographic footprint and enter into new cultural markets to become a major player in the international dating scene.”