I received the following information about the Think Partnership deal to acquire The Right One/Together Dating.
A group out of Chicago entered into a LOI to purchase The Right One/Together Dating and the “Consumer Division� of ThinkPartnership.
The idea was to form an Online – Offline dating company and take advantages of each others strengths.
During due diligence it become apparent that THINK over valued its Consumer Division.
THINK was dying to rid it self from their “Consumer Divisionâ€? because most of the revenue was coming from the adult sites — I’m sure THINK was running into the “Sin Clauseâ€? with institutional investors. Even with this…THINK wouldn’t budge on their asking price and the deal blew up.
This was going to be a good size company… a number of LOI’s were ready to be sent out.
So there you have it. If you have anything to add, leave a comment.
