July 15 (Bloomberg) -- IAC/InterActiveCorp, the Internet holding company controlled by billionaire Barry Diller, acquired the dating and media assets of This Life Inc.’s HowAboutWe service, which suggests things to do on romantic outings.
The deal excludes the Brooklyn-based startup’s HowAboutWe for Couples business, Sam Yagan, chief executive officer of IAC’s Match Group, said yesterday. He declined to discuss the transaction further. Jade Clark and Ariana Anthony, spokespeople for HowAboutWe, didn’t return requests for comment.
IAC, which runs dating sites such as Match.com and OKCupid within its Match Group business, is seeking to keep its edge in online dating, where it’s the market-share leader with about 28 percent, according to researcher IBISWorld. Earlier this year, Match.com redesigned its mobile application so it imitates the popular swiping feature of Tinder Inc., another dating company that IAC controls.
In December, Diller’s company said it planned to turn Match Group into a separate business, setting the stage for a potential spinoff. The division, which also includes fitness app DailyBurn and education tool Tutor.com, last year generated sales of $788 million, about a quarter of IAC’s revenue.
Shares in New York-based IAC have fallen 3 percent this year to $66.61 at the close yesterday.
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