IAC’s Match.com is continuing its acquisition strategy today with the purchase of online dating site OkCupid for $50 million in cash. The deal also includes future earnouts contingent upon performance.

While Match.com has a significant userbase, OkCupid singles tend to be younger, which is why Match found it to be a useful acquisition. The site, which is free, apparently generates revenue via advertising and according to IAC, has “been the fastest growing dating site in the advertising-based category.”

OkCupid, which has raised $6 million in funding, was co founded by Max Krohn, Sam Yagan, Chris Coyne and Christian Rudder. Match has previously acquired dating site People Media for $80 million and most recently Singlesnet.

Yagan will continue to operate OkCupid from the startup’s offices in New York. Hopefully the acquisition doesn’t prevent OkCupid from publishing its anonymized data about the online dating scene. Or better yet, the reports will include data from both Match.com and OkCupid.