Category: All Acquisitions

Three Day Rule Acquired; Adam Cohen-Aslatei Appointed CEO to Lead Expansion

Posted on November 19, 2024

Three Day Rule
PRESS RELEASE – Three Day Rule Matchmaking has been acquired by a private investment group, appointing Adam Cohen-Aslatei as its new CEO. A dating industry veteran, Cohen-Aslatei previously founded and sold the dating app S'More and held leadership roles at Bumble and The Meet Group. Under his leadership, Three Day Rule plans to expand nationwide, launch coaching programs, and introduce an app to support singles in building lasting relationships. The company remains focused on personalized matchmaking and relationship wellness.

See full article at Globe Newswire

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Dating App Filteroff Acquired by Spark Networks

Posted on October 7, 2024

FilterOff Spark NetworksLINKEDIN – Zach Schleien, now VP of Marketing at Spark Networks, has announced that Filteroff, the video-first dating app he co-founded, has been acquired by Spark Networks, home to platforms like JDate, Christian Mingle, and Elite Singles. Launched just before the pandemic, Filteroff offers a healthier, more genuine way for singles to connect via video, avoiding the usual swiping and texting culture. With millions of users globally embracing this approach, the acquisition marks an exciting new chapter for the app under Spark Networks' umbrella.

See full article at LinkedIn

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Queer Social App Lex Acquired by the Former Musical.ly CEO’s Conglomerate

Posted on October 1, 2024

Lex logo 2023TECH CRUNCH – Lex, a social and dating app for the LGBTQ+ community, has been acquired by 9count, a mobile app conglomerate led by former Musical.ly CEO Alex Hofmann. Founded in 2019 by Kell Rakowski, Lex originated from a popular Instagram page and focuses on providing a safe space for LGBTQ+ users. The acquisition will allow Lex to roll out new features faster and enhance content moderation. 9count, known for apps like Wink, aims to build niche social networks for specific communities rather than large-scale platforms. The financial terms of the deal were not disclosed.

by Amanda Silberling
See full article at Tech Crunch

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Starboard Acquires 6.5% Stake in Match Group, Pushes for Innovation and Margin Improvement

Posted on July 16, 2024

Match Group logoCNBC – Starboard Value, led by Jeff Smith, has acquired a 6.5% stake in Match Group and advocates for the company to focus on product innovation and margin improvement. If CEO Bernard Kim cannot execute a successful turnaround, Starboard suggests Match should consider going private. Match shares have dropped over 80% from their 2021 highs, with multiple activists showing interest. The stock surged nearly 9% in extended trading on Monday after the Wall Street Journal reported on Starboard's stake.

by Rohan Goswami
See full article at CNBC

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Bumble Buys Community Building App Geneva to Expand Further Into Friendships

Posted on May 20, 2024

Bumble Geneva logosTECH CRUNCH – Bumble has acquired Geneva, an online platform built around forming real-world groups and clubs. Terms of the deal were not disclosed, but the announcement comes shortly after Bumble revealed that it would be pursuing acquisitions to drive growth. While Bumble is best known for its dating app, the company recently indicated that friendships could be a bigger focus for the company moving forward. Founded out of New York in 2019, Geneva is all about meeting like-minded people in a given area, whether that's to form running clubs or meetups to talk about the latest books. The company had raised ~$36M.

by Paul Sawers
See full article at Tech Crunch

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Elliott Investment Management Acquires $1 Billion Stake in Match Group

Posted on January 9, 2024

Match GroupBLOOMBERG – Elliott Investment Management has built a stake of ~$1 billion in Match Group. The activist investor plans to push the online dating company to take steps to boost its stock price. Shares of Match Group have fallen 10.5% in the past year, leaving it with a market value of about $10.3 billion.

by Michael Hytha
See full article at Bloomberg

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Bargain Acquisition: Hedge Fund MGG Investment Group Takes Over Spark Networks for 164K Eur

Posted on January 9, 2024

Spark NetworksWIRTSCHAFTS WOCHE – The MGG Investment Group has acquired Spark Networks, a German online dating provider, for just over 164K euros, becoming its sole shareholder. This acquisition, sanctioned by the Charlottenburg District Court in Berlin, led to a total loss for the current investors of Spark Networks. Spark Networks, offering niche online dating services such as Edarling, Elitesingles, and JDate, has faced financial difficulties in recent years, with losses exceeding $150M since 2020, partly due to cyber-attacks and fraudulent profile registrations. The company's stock, once priced at 14.80EUR on NASDAQ, was delisted at 13c in September 2023 due to impending insolvency. Facing impending insolvency, a legal submission to the Charlottenburg District Court proposed using the StaRUG law for corporate stabilization and restructuring. This law, introduced in 2021, allows companies to avert bankruptcy through restructuring, even if it adversely affects some creditors or shareholders.

by Florian Weyand
See full article at Wirtschafts Woche

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Laura Matter Expands Swiss Dating App noii to LA With Matter Acquisition

Posted on September 20, 2023

Noii Matter logosNOII TIKTOK – Laura Matter, a 24-year-old entrepreneur from Switzerland, has acquired Matter, a LA-based dating app. This strategic acquisition allows noii, a video-first dating app co-founded by Matter, to integrate Matter's audio-first features and benefit from its AI expertise. Matter, which gained significant traction since its 2020 launch in LA, will now be part of noii's global offering. Interestingly, Laura Matter shares her surname with the brand she acquired, a serendipitous coincidence that adds a touch of whimsy to this business move.

See full post at noii TikTok

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Bumble Acquires Official, an App That Helps Couples Strengthen Their Relationship

Posted on May 22, 2023

Official logoFAST COMPANY – Bumble has acquired Official, an app designed to strengthen relationships for couples. Official offers features such as mood check-ins and date planning to help couples build stronger connections. This acquisition is part of Bumble's broader strategy to enhance the overall "ecosystem of love," which includes various stages of relationships from friendships to long-term partnerships. With Official's presence in over 45 countries and a user base of ~368K couples, Bumble aims to provide comprehensive support and resources for couples to nurture and deepen their relationships. Official will continue as a standalone app though Bumble says there are opportunities for Official and Bumble to collaborate.

by Jessica Bursztynsky
See full article at Fast Company

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Newborn Town to Acquire BlueCity

Posted on March 28, 2023

BlueCityPR NEWSWIRE – Newborn Town has signed an agreement with Spriver to acquire Chizicheng Strategy Investment, a subsidiary of Spriver. This acquisition will make Newborn Town the controlling shareholder of BlueCity, which is owned by Chizicheng Strategy Investment. Upon completion of the acquisition, Newborn Town will consolidate the financial statements of BlueCity into its own financial statements. BlueCity is a leading player in the LGBTQ social vertical, with its flagship Blued app as the second-largest LGBTQ platform globally in terms of active users while holding the leading position in terms of users in several Asian countries and regions. Newborn Town is a company with diversified social networking services based in Hong Kong, listed on the Hong Kong Stock Exchange. The company was founded in 2013 and provides various social networking services such as live streaming, interactive entertainment, and audio services. Newborn Town has a global footprint and operates in key markets, including Japan, Korea, North America, Southeast Asia, and the Middle East.

See full article at PR Newswire

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