IAC Buys 20% Stake In Zhenai
IAC-owned Match announced that it has acquired a 20% interest in Zhenai, a provider of “online matchmaking services” in China, for an undisclosed sum.
They acquire because they can not innovate in the Online Dating Industry.
Remember what I had said last year:
"Mr. Greg Blatt named CEO of IAC? He is only a lawyer. He is not going to innovate in nothing.
My bet: He will continue to acquire rotten tech companies in order to show some kind of success, show achievements, show milestones during his tenure."
Match wants you using Chemistry (last April 2010)
Match eating Meetic (May 2011)