When were dating sites invented
The next year, Cendant sold the company to IAC/Inter Active Corp, then still operating under the name Ticketmaster, for million.
All Kremen got out of the transaction was ,000 from selling his company stock and a lifetime account on the site.
“We’re trying to be wherever our users are,” whether in the waiting room at a doctor’s office or in line at the grocery store, he says.
Still, it’s Match’s algorithms that may be its most valuable asset.
Keep up with this story and more Kremen says the “relentless” work ethic at Match helped distinguish his site from the first flock of online dating services.
In the early days, Kremen worked out of a cramped, one-bedroom apartment that he shared with two roommates.
At least that was the case for Gary Kremen, the founder of the online dating service
“People have become more willing to open their wallets to find love,” says Mark Brooks, the editor of Online Personals Watch.com, a consulting firm for the online dating industry.
In 2001, a judge awarded him million in a dispute over the domain name sex.com, which he registerd in the ’90s.
Then, in 2004, after Electric Classifieds (renamed Instant Objects) went out of business, Kremen essentially bought the company’s million in debt for ,000 so that he could retrieve its valuable patent.
After raising 0,000 from investors, the company launched its first vertical—Match.com—in April 1995.
Initially, Match only allowed users to exchange personal messages and photographs via e-mail or fax. Within six months, 100,000 people had registered for the free service.