OkCupid founder raising $200M for blank-check company

Yagan is a well-known founder, CEO and investor. He’s CEO of ShopRunner, an e-commerce company that is being acquired by FedEx. He previously was CEO of Match.com, which acquired OkCupid, and later went public in 2015. He also co-founded Excelerate Labs, which later became TechStars Chicago.

Farsht is a former partner at private-equity fund Norwest Equity Partners and ran TechStars with Yagan. Schwarz previously worked at Match.com and Tinder. 

As a blank-check company, Yagan and his team have 24 months to find an acquisition. Corazon says it’s targeting businesses with “consumer-facing technology, subscription- or recurring-revenue models, marketplaces and networks, or those that operate in sectors such as education, social media and dating, and e-commerce.”

“We will look for opportunities with certain business attributes or in certain categories, including, but not limited to, businesses with consumer-facing technology, subscription or recurring revenue models, marketplaces and networks, or that operate in sectors such as education, social media and dating, and e-commerce,” Corazon says in its prospectus.

Corazon says it will consider environmental, social and corporate-governance factors when looking for an acquisition target: “We plan to use ESG screens in the selection of any potential business combination target, and we will integrate ESG factors into our investment analysis and decision-making processes. Given our digital focus, we expect the social and governance factors to take priority, and we will look to identify products that positively impact society or companies that have committed to diversity, equity and inclusion. 


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