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"It was opportunistic," said Sam Yagan, CEO of IAC's dating division, Match Group.

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Match Group has become the fastest-growing revenue stream in Diller's strange mishmash of media properties, which includes the Daily Beast, Vimeo and

Last year it accounted for a quarter of total revenue.

"They have been very aggressive and bought companies that were very well-placed strategically and by design.

Brian Schechter and Aaron Schildkrout thought that they had found the one.

Online dating is a saturated marketplace in which one behemoth - Barry Diller's IAC/Inter Active Corp - has staked out a near monopoly. The dating space, they realized, was already spoken for - IAC counts heavyweights Match.com, Ok Cupid and Tinder among its portfolio. "IAC owns online dating," Schechter told Fortune in January.

Last modified 04-Jul-2015 12:29