Markus Frind estimates the most he ever invested in his company was 0.
“We were profitable from Day 1,” said the founder of the Plenty Of Fish (POF) online dating service, “so [an investor] was not something I had to worry about.” Frind’s biggest rival, the Match Group, announced July 14 it was buying POF and adding the Vancouver-based company to its portfolio of online dating services that includes Match.com, Ok Cupid and Tinder.
One year after the site was founded, he travelled to 28 countries.
By the five-year mark, his site had 15 million signups and was bringing in -million in revenue. Frind would reportedly try to limit his work-day to just five hours.
“Here’s a guy, as a solo founder, bootstrapped a company over 12 years, never raised a single dime.” As POF’s sole shareholder, Frind will be bringing US5 million – minus taxes – from the all-cash deal back with him to Vancouver.
Frind is staying quiet about what he’ll do with the money, but Wertz expects the local tech community to benefit.
Have you ever been on a dating website and wondered how it matches people?On February 28, 2012, the parents of US Army Lieutenant Peter Burks sued Plenty Of Fish.The parents' lawsuit alleges photos of their son, who was killed in Iraq in 2007, were used without permission.We sure need it.” Frind, however, said he prefers to invest in later-stage companies over Vancouver tech startups “because you can invest more money, and you don’t have to write ,000 cheques.” This year he put million into Burnaby-based software developer and e-commerce company Cymax.While Vancouver has a limited number of later-stage tech companies in which to invest, Frind said his strategy is to look at deals as they come along. The plan here is there’s going to be a lot of growth.” Frind, who grew up in the northern B. village of Hudson’s Hope before studying computer programming at the British Columbia Institute of Technology in 1997, told Business in Vancouver in 2008 there was “not a chance” he’d sell POF.In March, Plenty Of Fish surpassed 100 million users.CEO and founder Markus Frind launched the company from his Vancouver apartment in 2003.“We are thrilled to be joining forces with Match,” Frind said in a statement.“My team and I have grown Plenty Of Fish into one of the leaders in our category, and I am confident that Match will help accelerate our growth even further.” The Match Group, the world’s leader in dating products, are redefining the way people meet, date and start relationships.TORONTO — Markus Frind became more than half a billion dollars richer this week, after Match.com‘s parent company bought his free dating site Plentyof Fish for 5 million.Not bad for a 36-year-old guy who launched the company from his Vancouver apartment in 2003 following a couple weeks of writing code.