Dating app Hinge has been acquired by the Match Group, which owns and operates over 50 global relationship brands including Match, Tinder, OKCupid, and Plenty of Fish. The financial terms of the acquisition were not disclosed but Match is acquiring a 51% stake in Hinge with the option to purchase the remaining shares over the course of the next year. Match made a previously undisclosed investment in Hinge last fall and that served as a catalyst for the acquisition.
Justin McLeod founded Hinge in 2011 and the company had raised a total of $20.6M in reported funding over four rounds. Investors in the company include 500 Startups, Founders Fund, Slow Ventures, Great Oaks Venture Capital, Social Capital, Shasta Ventures, Shasta Ventures, Lowercase Capital, Eniac Ventures, Brainchild Holdings, Red Swan Ventures, Middleland Capital, CAA Ventures, Graph Ventures, Lumia Capital, Fortify Ventures, Fortify Ventures, Raj Sandhu, Militello Capital, Prashant Malik, Cam Drummond, David Fischer, and Evan Burfield.
The timing for this acquisition was likely accelerated by Facebook. Earlier this month, Hinge was forced to remove its Facebook login requirement as shifts in Facebook’s privacy policy prevented Hinge from using data that it previously relied upon for its recommendations. Facebook also announced, earlier in the spring, its entrance into the dating vertical, which increased competitive pressure on most apps in the dating space.
“Our mission is to provide a culture of thoughtful dating to millennials who are looking for more meaningful, lasting connections,” said McLeod. “While our prime focus is on creating the most effective dating service for our members, it’s now time for us to bring that service to more people in the US and abroad. We’re thrilled to have Match Group’s support and scaling expertise as we grow. Mandy Ginsberg, CEO of Match Group remarked, “Hinge’s passion for the user experience and their innovative approach to dating has created a product that is highly relevant particularly among urban, educated millennial women looking for relationships. We are excited to welcome Hinge to Match Group and leverage our extensive experience to enable them to become a major player in the relationship space.”
