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"It was a profitable company, and there was no need to raise money." Plenty of Fish's deal with Match will close by the end of the year.
Frind says Plenty of Fish, which has 90 million registered users and 3.6 million active daily users, was "immediately profitable." In 2008, Frind told The New York Times that his website's net profits were about million a year and that he worked only about 10 hours a week. "It's funny, once you start adding people to the company, the amount of time you have to work goes up," he told Business Insider. I've been working normal hours the past few months." Match Group CEO Sam Yagan said in a statement that he had been interested in Plenty of Fish for more than 10 years.
"By the time I found out what VCs were, I was already making millions in profit, and I didn't see the need to raise money because I wouldn't know what to do with it," he told Business Insider.
NET, and I don't like reading books, so I just went and created the site in two weeks, and then people started signing up, much to my surprise," he said. It wasn't like I had a plan to create a dating site.
It was just a side project I created that got really big." Frind, who was a developer before he founded Plenty of Fish, built the site without any venture-capital funding.
On Tuesday, the dating website Plenty of Fish got acquired by Match Group, an IAC/Inter Active subsidiary that recently announced plans to go public later this year.
Plenty of Fish sold to Match Group for 5 million in cash.