THE MOTLEY FOOL – Nov 1 - It floated on AIM in June 2010 as Easydate. That caught the eye of easyGroup's lawyers and the company agreed to change its name to Cupid, having acquired companies of that name in the UK and US. International expansion has been boosted by recent acquisitions in Germany and Brazil. In the first half of this year, the company met its objective of earning 50% revenues from outside the UK. Revenues were nearly tripled to £25.4M, and operating profit doubled to £3.9M. The company now has ~34M members in 39 countries, but only a tiny proportion of those generate revenues. There were 460K monthly subscribers in June 2011, up from 324K last December. More than 40% of users now access the company's services through mobile devices or its Facebook app.
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I think we’ll continue to see Cupid grow from strength to strength. They’re sitting on the best domain in the industry in Cupid.com. They have a low cost base, with most of their people sitting in the Ukraine. And they’re headed by some smart people.
I think we’ll continue to see Cupid grow from strength to strength. They’re sitting on the best domain in the industry in Cupid.com. They have a low cost base, with most of their people sitting in the Ukraine. And they’re headed by some smart people.