Introduction
Dating.com Group, a division of IAC/InterActiveCorp that owns OkCupid, is launching a corporate venture fund with an initial $50 million in funding. The new division hopes to revitalize the online dating industry by bringing back real-life interactions between potential partners through virtual dates and video speed dating.
Dating.com Group, which started in 1995 as a matchmaking service, launched a division in 2006 with the goal of revitalizing the online dating industry.
Dating.com Group, which started in 1995 as a matchmaking service, launched a division in 2006 with the goal of revitalizing the online dating industry. The company’s new corporate venture fund will focus on investments and acquisitions that align with its strategy to invest in new technologies and products that help build out its global dating network.
The $50 million fund is being led by new CEO Christian Rudder (pictured above), who joined the company last year after co-founding OkCupid, now owned by IAC/InterActiveCorp (IAC). Dating.com Group was created through an acquisition of MatchNet Inc., dating sites for professionals launched by Rudder and Sam Yagan who later went on to start online dating site OKCupid LLC before selling it for $50 million themselves last year.”
The company that owned Dating.com sold it to an investment firm for an estimated $100 million in 2007 and the division was renamed OkCupid.
In 2007, the company that owned Dating.com sold it to an investment firm for an estimated $100 million and the division was renamed OkCupid. The new division aimed to create a place where members could come together through the Internet, but actually meet in person instead.
OkCupid is one of several examples where people have created businesses based on dating apps and services.
The idea behind the new division was to create a place where members could come together through the Internet, but actually meet in person instead, according to CEO Sam Yagan.
The idea behind the new division was to create a place where members could come together through the Internet, but actually meet in person instead, according to CEO Sam Yagan.
“We wanted to make a platform that would bring people together,” he said. “There’s so much noise on dating websites and apps today. We wanted something that was more intimate.”
The first step was creating something that resembled a dating site, so it partnered with Zoosk to set up speed dating events where users could go through some of the site’s features.
The first step was creating something that resembled a dating site, so it partnered with Zoosk to set up speed dating events where users could go through some of the site’s features.
Zoosk is a dating app that lets users set up a profile, browse profiles and send messages. In addition to being able to access the website from anywhere in the world using any device or browser, Zoosk boasts millions of members and uses an algorithm to pair people based on interests and preferences.
The company raised $35 million in venture capital from firms like Bessemer Venture Partners and Silver Lake Partners from 2008–2010 before going public on Feb. 22.
The company raised $35 million in venture capital from firms like Bessemer Venture Partners and Silver Lake Partners from 2008–2010 before going public on Feb. 22.
The corporate venture fund will invest in seed-stage companies that are aligned with the online dating service’s business objectives, according to a statement released by the company Thursday.
A virtual date is different than meeting someone at an event like speed dating or at work, and you can use these services to find what works best for you
With the rise of technology, it has become easier to find love. What used to be a high-stakes activity requiring you to know someone in common and go through extensive vetting is now much more casual. Nowadays, you can use these services to find what works best for you: whether that’s a date, friend or relationship.
Conclusion
We’re excited to be able to support our own company with the launch of a corporate venture fund. Our goal is to invest in companies that share a similar vision and values as Dating.com Group, while also being innovative in their own right. We’ll be providing funding for startups with an initial investment of up to $50 million as part of our commitment to helping companies grow into successful organizations.
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