IAC/InterActiveCorp (NASDAQ:IACI) has reported a first quarter profit of $18.1 million this quarter. They recently renewed a contract with Google Inc. (NASDAQ:GOOG) that estimated to be worth $5.5 billion over 5 years. Google provides IAC with search products and advertising services.

Match.com is being sued by a woman in California since she was sexually assaulted after a date. Mark L. Webb filed the civil lawsuit against Match.com on behalf of the woman in the Los Angeles Superior Court. The lawsuit is demanding that Match.com screens members for potential sexual predators. Webb filed for a temporary injunction to prevent Match.com from allowing new members to join until the issue is fixed. The woman met the predator last year at Urth Cafe in West Hollywood. After the second date, the man followed the woman home and attacked her. Match.com is owned by InterActiveCorp (IAC). [The Huffington Post]

IAC/InterActiveCorp (NASDAQ:IACI) subsidiary Match.com has acquired OkCupid for $50 million in cash. This deal includes future earn-outs based on performance. OkCupid is free, but makes money from advertising. OkCupid has raised $6 million in funding and it was co-founded by Max Krohn, Sam Yagan, Chris Coyne, and Christian Rudder. OkCupid will continue to operate out of their offices in New York.

InterActiveCorp’s dating website company Match.com has acquired Singlesnet. Singlesnet offers similar services as Match.com. Match.com sees the acquisition has having value rather than being strategic. SinglesNet will continue to operate as an independent company. As a result of the deal, Match.com’s Adrian Ong head Singlesnet going forward. [TechCrunch]

People Media is the parent company of several niche social networks.  Some of the social networks include LatinoPeopleMeet.com, SeniorBlackPeopleMeet.com, RepublicanPeopleMeet.com, and AsianPeopleMeet.com.  Match.com will be buying all of the properties for $80 million in cash.

People Media got a big break by powering AOL Personals.  The company started in 2002 and runs about 27 social networks.  Altogether the social networks have about 255,000 paying subscribers.

The biggest niche social networks that People Media owns are BlackPeopleMeet.com, BBPeopleMeet.com, LDSPlanet.com, SingleParentMeet.com, and SeniorPeopleMeet.com.  In 2008, the company made $11.6 million in earnings before interest, taxes, depreciation, and amortization.

People Media is run by CEO Josh Myers, a former general manager of Yahoo! Publisher Network.  People Media is owned by private equity firm American Capital.

[via AlarmClock]