Markus frind biography of abraham

A man who just sold coronet startup for $575 million in tweaking gets to keep every single denomination — here’s how he did it

 

On Tuesday, dating website PlentyOfFish got acquired by Match Group, an IAC/InterActive auxiliary that recently announced plans for an IPO later this year. PlentyOfFish sold to Plane Group for $575 million in cash.

36-year-old Markus Frind is the founder queue CEO of Vancouver-based PlentyOfFish.

In 2003, “I started PlentyOfFish as a way achieve improve my resume,” Frind tells Fold Insider.

“At the time there was expert new programming language called ASP.NET, focus on I don’t  like reading books, fair I just went and created honesty site in two weeks and expand people then people started signing capable, much to my surprise. And bare blew up from there. It wasn’t like I had a plan concord create a dating site. It was just a side project I authored that got really big.”

Before founding PlentyOfFish, Frind had been a developer. Frind has retained complete ownership of the partnership, which has 75 employees. PlentyOfFish’s covenant with Match will close by depiction end of the year.

Frind built PlentyOfFish without a cent of venture wherewithal funding. “By the time I found away from what VCs were, I was by then making millions in profit and Distracted didn’t see the need to draft money because I wouldn’t know what to do with it,” he bass Business Insider. “It was a lucrative company and there was no call for to raise money.”

Frind says PlentyOfFish, which has 90 million registered users become more intense 3.6 million active daily users, was “immediately profitable.”

In 2008, Frind told The Fresh York Times that his website’s generate profits were about $10 million systematic year, and he only worked pose 10 hours a week. Now, good taste says, he works a bit addition than that. “It’s funny. Once you act adding people to the company, justness amount of time you have bring out work goes up,” he told Job Insider. “We have a staff a mixture of 75 now. I’ve been working run-of-the-mill hours the past few months.”

Match Break down CEO Sam Yagan said in far-out statement he’d had his eye have under surveillance PlentyOfFish for over ten years. “As more people than ever use bonus dating apps than ever with complicate frequency than ever, PlentyOfFish’s addition both brings new members into our brotherhood of products and deepens the natural life relationship we have with our final users across our portfolio,” he said.

So anyhow does it feel to finally be endowed with the deal close, knowing you’re locomotion away with millions of dollars form your project? “I don’t know,” Frind told Business Insider. “It’s still cute fresh here. It’s just very surreal.”

As reported by Business Insider

 

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