SCOTSMAN – Mar 24 – The collapse in the share price of Cupid on Friday has stoked speculation it will be snapped up by IAC. The shares dropped 57% to 49p, wiping more than £40M off its value in a matter of hours. The plunge came after it responded to allegations posted by a blogger and a Ukrainian newspaper that suggested the company lured men to hand over credit card details with “fake” potential female daters. Svitlana Tuchynska, a journalist for the Ukrainian newspaper Kyiv Post, said that during an undercover job interview she was told the role involved posing as a female user of the dating site and encouraging male users to buy memberships.
by Erikka Askeland and Perry Gourley
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