Meetic Acquires Massive Media For $25 Million
Meetic is a European dating website that has media giant InterActiveCorp as a majority owner in the company. Meetic has acquired the Belgium, Germany based company Massive Media. Massive Media is the parent company of online dating website Twoo.com and the Netlog social network. The acquisition price in this transaction was 18.9 million euros (equivalent to around $25 million) in cash. This purchase price excludes earn-outs for future performance in the next 3 years. Twoo.com receives around 9.6 million unique visitors per month since they launched in April 2011.
Netlog was founded by Lorenz Bogaert and Toon Coppens. Netlog was once known as the “MySpace of Europe.” Netlog raised around 5 million euros from Index Ventures and Atomico. Eventually Facebook became the go-to social network, leaving Netlog behind with much smaller numbers in traffic back in 2003.
After Facebook started to dominate Netlog attempted to spin off a gaming website called Gatcha, but that did not end up working out. Twoo.com ended up being more successful. Meetic said that adding Twoo.com to their portfolio will enable them to expand from Western Europe to Eastern Europe with a “freemium” model. Massive Media will continue to operate independently. It is unknown what will happen to Netlog.