Vancouver-based PlentyOfFish has acquired FastLife, a speed dating and singles event company.
According to POF, this strategic acquisition is "positioned to drastically change the future of the online dating industry" by combining its influence in the online dating space with FastLife’s current operations in the US, Canada, Australia, New Zealand, and the UK.
“The direction of online dating is undeniably headed towards a merging of the online and offline worlds, so this is a major move towards changing the way single people meet and interact,” says Markus Frind, founder and CEO of PlentyOfFish.
“PlentyOfFish has always understood the importance of live events," he added. "Currently our users host over 300 events worldwide each month. Now more than ever, we understand the importance of offering singles innovative, new ways of connecting face to face."
FastLife holds 2,400 events a year, with 60,000 urban professional singles in attendance. These events have generated annual revenue of more than $2.5 million. Frind says PlentyOfFish and FastLife will be rolling out singles events across "hundreds of untapped US cities" over the next year.
This is the first major acquisition for POF, but according to Frind, it won’t be the company's last. “PlentyOfFish will continue to grow our reach within the online dating industry. We want to invest over $30 million in the next 12 months," he noted.
Photo: 24 Hours