Match Group Acquires 51% of Dating App Hinge.
21 June 2018 - US-based dating products provider Match Group Inc. (NASDAQ: MTCH) has acquired a 51% ownership stake in New York City-based relationship app Hinge, the company said.
Match Group has the right to acquire all the remaining shares of Hinge within the next 12 months.
Additional terms of the transaction were not disclosed.
Match made its initial investment in Hinge in September 2017, following a product redesign that eliminated the 'swipe' feature and enhanced the focus on real relationships.
Since that redesign, Hinge's user base has grown by more than 400%, with meaningful traction in key urban, East Coast markets.
Impressed with the growth trajectory of the product, Match Group has gradually raised its stake since the initial investment by making a series of primary investments in the company on previously agreed terms to fuel product and marketing.
Match Group is a provider of dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, OkCupid, OurTime, Meetic, and Pairs.
The company currently offers its dating products in 42 languages across more than 190 countries.
Hinge is a dating app for millennials. It is available in the US, UK, Canada, Australia and India.
Sector: IT/Online Services
Target: Hinge/51% stake
Buyer: Match Group
Deal size in USD:
Type: Corporate Acquisition
Buyer advisor: , ,
Comment: Terms of the deal were not disclosed
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|Publication:||M & A Navigator|
|Date:||Jun 21, 2018|
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