In a strategic move, Match Group, the parent company of popular dating apps like Tinder and Hinge, has acquired The League, an exclusive dating app designed for ambitious individuals seeking long-term relationships. This acquisition comes as Match Group continues to expand its portfolio of dating services.
Acquisition Details
According to a spokesperson from Match Group, the financial terms of the deal were not disclosed. However, in its year-end SEC filing, Match revealed that the purchase price, net of cash received, was $29.9 million. This figure includes $25.7 million paid in cash on the acquisition date and $4.2 million deferred cash consideration payable at December 31, 2022.
The League: A Niche Dating App
Founded in 2014, The League is a highly selective dating app that caters to career-focused individuals looking for serious relationships. Its unique approach involves an admissions-based model where potential users can apply by submitting their social media profiles. Users are then waitlisted until they pass a screening algorithm and review process, which ensures matches with similar career goals and ambitions.
Admissions-Based Model
The app’s admissions-based model has been both praised and criticized over the years. Some view it as elitist, while others appreciate its exclusive approach to matchmaking. The League founder and CEO Amanda Bradford has repeatedly defended the app from claims of elitism, noting that anyone can apply regardless of factors like income, family background, profession, or educational institution.
Benefits of Membership
While users can access The League for free as a "guest," becoming a member offers several benefits. Members receive double the matches and have access to a higher quantity and quality of potential partners. Subscription options range from one week to 12 months, allowing members to choose the duration that suits their needs.
Match Group’s Portfolio Expansion
With The League joining its roster of dating apps, Match Group now boasts an extensive collection of services, including Tinder, Match, Hinge, Meetic, OkCupid, Pairs, PlentyOfFish, OurTime, Azar, and more. This acquisition reinforces Match Group’s position as a leading player in the online dating industry.
Antitrust Lawsuit with Google
Match Group’s acquisition news comes amidst an ongoing antitrust lawsuit with Google. The two tech giants have been battling it out in court since May 2022, with Match suing Google over its alleged monopoly power in Android app payments. In a recent counterclaim filed by Google, the company accused Match of attempting to use its services for free while sidestepping Google’s fees.
Conclusion
The acquisition of The League by Match Group marks another strategic move by the company to expand its portfolio and reach more ambitious individuals seeking long-term relationships. As the online dating industry continues to evolve, Match Group remains at the forefront, adapting to changing market dynamics and user preferences.
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