Match Group, Inc., owner of OkCupid, PlentyOfFish, Tinder, and Match.com., announced that it acquired a 51% ownership stake in relationship app Hinge. The internet company has the right to buy the remainder of Hinge shares within a year. Match invested in the dating app for the first time in September.
“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,” Match Group Chief Executive Officer Mandy Ginsberg stated.
Match Group shares were up 5.26% in the previous month, while the company saw a rise of almost 35% in the past six months.