Dating Group has agreed to acquire Cupid Media, a holding company for several international dating platforms, in a deal worth $51 million.
Cupid Media’s portfolio consists of 11 cultural services, including AsianDating, LatinAmericanCupid, Muslima, FilipinoCupid, ThaiCupid, and InternationalCupid.
Over 1.3 billion messages are sent annually across the sites and they support an average of seven million monthly active users. This takes Dating Group’s entire user base to over 130 million.
It also expects this latest acquisition of Cupid Media to increase its revenue to upwards of $300 million.
Bill Alena, Chief Investment Officer of Dating Group, said in a statement: “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.
“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.”
Dating Group now has extended access users across different cultures and international markets, helping it to learn more about social behaviours and develop its existing products to better serve global communities.
This is the company’s second major acquisition of the year, following the $18 million takeover of slow dating app Once in January.
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