PR NEWSWIRE — Jan 5 — Meetic will focus on profitability in 2009. Meetic allocated ~15m Euros exceptional ad expenditure in 2008, mainly for offline branding to increase the profile DatingDirect, Neu.de and the matchmaking service MeeticAffinity. The Group is confident that it will gain a significant share of the European matchmaking market in 2009 and generate EBITDA margin of 20% to 25%. In '08 the Group disposed of its Chinese operations (eFriendsNet, Yeeyoo). Investments in Latin America, which are currently marginal, will be maintained.
The full article was originally published at MSN Money, but is no longer available.
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– MeeticAffinity and DatingDirectAffinity are only rebranded names of Ulteem.
– “MEETIC also announced that its investments in Latin America, which are currently marginal, will be maintained. Latin America is a profitable market and is generating steady growth, and the Group has good visibility in this region. ”
The unexploited Latin America Market (Brazil, Argentina, Chile, Colombia, others) could be bigger than USD 100 million.
Most Latin America countries are Spanish speaking countries, but the site should taste/sound/look really local in order to get traction.
Even Match.com had failed to do that!
Regards,
Fernando Ardenghi.
Buenos Aires.
Argentina.
ardenghifer@gmail.com
– MeeticAffinity and DatingDirectAffinity are only rebranded names of Ulteem.
– “MEETIC also announced that its investments in Latin America, which are currently marginal, will be maintained. Latin America is a profitable market and is generating steady growth, and the Group has good visibility in this region. ”
The unexploited Latin America Market (Brazil, Argentina, Chile, Colombia, others) could be bigger than USD 100 million.
Most Latin America countries are Spanish speaking countries, but the site should taste/sound/look really local in order to get traction.
Even Match.com had failed to do that!
Regards,
Fernando Ardenghi.
Buenos Aires.
Argentina.
ardenghifer@gmail.com
How can Meetic’s investments in S. America only be marginal?
Just 2.5 years ago, they spent €21.6M in cash for ParParfeito:
See http://www.thealarmclock.com/euro/archives/2006/05/meetic_buys_brazil_dating_site.html
“MEETIC announces that it has signed an agreement with a view to the acquisition of ParPerfeito, the online dating leader in Brazil. Founded in 2002 and based in Rio de Janeiro (Brazil), ParPerfeito runs the http://www.parperfeito.com.br site, and has rapidly become Brazil’s leading online dating service with close to 8 million registered profiles since its creation. ParPerfeito’s estimated revenues in 2005 totalled R$ 10.4 million, or approximately 4 million euros. ParPerfeito’s estimated EBITDA in 2005 totalled R$ 6,0 million, or approximately 2,3 million euros. This acquisition, which should be finalised over the coming days, concerns 100% of the Company’s capital and voting rights for a global price – totally paid for in cash – of R$ 56.6 million, or 21.6 million euros, excluding further payments based on the Company’s results over the next three financial years.”
So, we have a company that was doing 4 million euros in revenue annually and now this is “marginal”? Did the site stop performing under Meetic’s control?
What the heck happened to that €21.6M cash investment??
How can Meetic’s investments in S. America only be marginal?
Just 2.5 years ago, they spent €21.6M in cash for ParParfeito:
See http://www.thealarmclock.com/euro/archives/2006/05/meetic_buys_brazil_dating_site.html
“MEETIC announces that it has signed an agreement with a view to the acquisition of ParPerfeito, the online dating leader in Brazil. Founded in 2002 and based in Rio de Janeiro (Brazil), ParPerfeito runs the http://www.parperfeito.com.br site, and has rapidly become Brazil’s leading online dating service with close to 8 million registered profiles since its creation. ParPerfeito’s estimated revenues in 2005 totalled R$ 10.4 million, or approximately 4 million euros. ParPerfeito’s estimated EBITDA in 2005 totalled R$ 6,0 million, or approximately 2,3 million euros. This acquisition, which should be finalised over the coming days, concerns 100% of the Company’s capital and voting rights for a global price – totally paid for in cash – of R$ 56.6 million, or 21.6 million euros, excluding further payments based on the Company’s results over the next three financial years.”
So, we have a company that was doing 4 million euros in revenue annually and now this is “marginal”? Did the site stop performing under Meetic’s control?
What the heck happened to that €21.6M cash investment??
i have paid for i month i cant get on site password and user name correct but still no joy i have reported this to the site ombusman
i have paid for i month i cant get on site password and user name correct but still no joy i have reported this to the site ombusman