IAC Buys OkCupid For $50 Million Plus Earnout

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IAC’s Match.com has acquired another online dating site, OkCupid, for $50 million in cash, plus earnout (“potential future payments contingent upon performance.”)

Unlike Match, which had 1.8 million subscribers at the end of 2010, OkCupid primarily generates revenue through advertising.

Meanwhile, IAC wrote down a big chunk of another of its deals, announcing a $32.6 impairment charge for Shoebuy.com, a shoe site it bought for an undisclosed amount in 2006.

Both were announced around IAC’s quarterly earnings this morning.

Overall, IAC revenue grew 27% year-over-year in Q4 to $451 million, ahead of consensus. Adjusted EPS minus one-time charges as $0.40 (via UBS), beating the Street, which was at $0.34.

IAC search revenue grew 29% to $236 million, posting a $21.3 million operating profit. Match.com revenue grew 30% to $108 million, posting a $38 million operating profit.

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