What: Internet holding company IAC/InterActiveCorp has acquired the dating startup and media assets of HowAboutWe, an online romance site.
Why it matters: This reflects IAC/InterActiveCorp ‘ intention to lead the digital dating market, although it already controls 28% of the  business. The online dating business amounts to approximately US$ 2,1 billion in the U.S. It is is a mostly subscription based business but also offers interesting online targeting as  event opportunities to advertisers.

descargaIAC/InterActiveCorp, the internet holding company controlled by billionaire Barry Diller, has acquired the dating startup and media assets of This Life Inc.’s HowAboutWe.

HowAboutWe was founded in 2010 by Aaron Schildkrout and Brian Schechter. The site is the host of other online romance sites. It offers HowAboutWe Dating, a matchmaking for singles and HowAboutWe Couples, a date-suggestion service. Free to use, the site also offers a US $8 a month subscription service.

Along with HowAboutWe’s dating business, the startup’s media network will join IAC. However, HowAboutWe for Couples will remain independent, according to IAC’s Match Group CEO Sam Yagan. Therefore, only a small number of HowAboutWe employees will move to IAC. Others will remain with HowAboutWe Couples business.

IAC already has a large dating site portfolio. The company owns 150 media brands and products, including dating sites Match.com, OKCupid and mobile app Tinder.

The move reflects IAC’s intention to lead the digital dating market, although it is already the market-share leader with about 28%, according to researcher IBISWorld.

In December, Diller’s company said it planned to turn Match Group into a separate business, setting the stage for a potential spinoff. The division, which also includes fitness app DailyBurn and education tool Tutor.com, last year generated sales of US $788 million, about a quarter of IAC’s revenue.

What: HowAboutWe has launched HowAboutWe Media, an online publications network independent of its dating site. The network includes recently aquired Nerve.com as well as new publications Swimmingly, covering “coupledom” and Famously that will debate celebrity relationships.
Why it matters: Online Dating Sites are big business. Many of them produce a very high engagement and have discovered that they can be good advertising platforms.

howaboutweHowAboutWe, an online dating platform, has launched HowAboutWe Media, an online publications network  independent of its dating site. It will consist of two new publications, Swimmingly and Famously, which have already gone live and the acquisition of an existing publication, Nerve.com.

Nerve is an online magazine which was founded by Rufus Griscom in 1997.It covers the intersection of sex and love. As part of the deal, it will undergo a redesign and relaunch. Nerve Dating, will be rolled into HowAboutWe’s existing dating platform, which currently has around 2 million users.

Swimmingly content will cover “coupledom” and Famously will debate celebrity relationships.

Still, HowAboutWe already has two separate subscription-based properties: HowAboutWe Dating, which operates through a blog known as “The Date Report” for singles, and HowAboutWe couples for couples. These two will continue to operate separately from the new media network, HowAboutWe Media. The “Date Report” will get a redesign as part of the deal and the idea is the blog to be supplemented with these  three publications .

Griscom in cooperation with magazine’s current CEO Sean Mills will be among the advisors of the media group.

Brian Moylan, who has been editing for TheDateReport, will now take over as Editor in Chief of HowAboutMedia.

“Modern love is an extremely fascinating topic and it’s long been a darling of media business so the demand is there. There is a lot of content on this topic but there’s nobody that’s 100 percent focused on all things love day in and day out,” co-founder of HowAboutWe Media Aaron Schildkrout told Capital.

The acquisition of Nerve.com was made in exchange for a combination of stock and equity.

HowAboutWe has earned over US $22 million in venture funding since launch in 2010, from investors like Venture Capital and Khosla Ventures. Nowadays, it claims to have more than 16 million monthly visitors.

This new network is intended to offer singles a place to go after they’ve found a relationship. HowAboutWe is also aiming to build out a new lifestyle media network through this acquisition, accompanied with an advertising division. The terms of the acquisition have not yet been disclosed.

Source:Capital New York

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