HowAboutWe, the Brooklyn-based subscription dating and relationship company, today announced the acquisition of Nerve.com and the formation of new web properties, all in an attempt to reorganize itself into a lifestyle media company focused on dating and love. HowAboutWe Media will comprise four sites: The Date Report (dating stories and trends), Swimmingly (stories and advice for couples), Famously (celebrity relationships), and Nerve (SFW sex-centric content). The purchase price was not disclosed and the Company has raised $22.3MM from Khosla Ventures, RRE Ventures, ff Venture Capital, and MHS Capital.
According to Forbes, the online dating industry is ~$2Bn annually but currently dominated by IAC’s Match.com and OkCupid. It seems to be changing with the popularity of apps like Tinder and Hinge. Nonetheless, co-founders and co-CEO’s Brian Schechter and Aaron Schildkrout think there is a lot of opportunity in the industry and are looking to take on IAC,
“The online dating business is completely monopolized — IAC owns online dating. So what we’re trying to do is build a media company whose sole focus is love. And we think that’s the way to beat IAC.”
The media network expansion at HowAboutWe has been in the works for some time, with the plan to sell advertising across all of its properties. In total, HowAboutWe, owned by This Life, Inc., claims to have more than 16 million monthly visitors.