by Kevin McSpadden
See full article at E27
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Category: All Acquisitions
MeetMe Closes Skout Acquisition
NASDAQ – Oct 5 – The two companies had entered into a cash-stock acquisition deal in June. The deal was valued at $54.6M, of which MeetMe paid $28.5M in cash, and the rest in stock. In May 2016, Skout had 3.5M MAU. Last year, it had garnered $28.5M in revenues. Skout's Q3 2016 revenues are expected to be ~$6.6M. Meetme expects revenues for 2016 to come between $73.5M and $75.5M.
EliteSingles Is Acquiring French Dating Site Attractive World
CITYAM – Oct 4 – Affinitas GmbH, the parent company of the premium dating service EliteSingles, has acquired French dating site Attractive World. Attractive World also operates in Belgium, Luxembourg and Switzerland. ~2M singles have applied to the site since its creation in 2007.
by Jack Palmer
See full article at CityAM
Update: EliteSingles paid between 10M – 20M Eur for Attractive World. Attractive World was launched in 2007 by Ludovic Huraux. The site raised 5.3M Eur between 2007 – 2011 and claimed profitability in 2013.
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Ulysses Management Lowers Stake In Match Group By 15%
by Elaine Green
The full article was originally published at Founders Daily, but is no longer available.
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ProSiebenSat.1 Buys Majority Of Online Dating Group Parship Elite
REUTERS – Sep 5 – German broadcaster ProSiebenSat.1 is buying a majority stake in German online dating group Parship Elite in a deal valuing the company at 300M Eur ($335M) to expand its digital portfolio. ProSieben is paying 100M Eur for 50% plus one share in Parship Elite Group, which operates Parship and Elite Partner in the German-speaking world. It will also replace loans worth 100M Eur with preferred capital bearing a fixed rate of interest. The previous owners, Oakley Capital Private Equity II and the existing management, will keep just under 50% of shares in the group.
by Maria Sheahan
See full article at Reuters
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Lloyd Miller Is Quietly Increasing Shares In Spark Networks
CONSUMER EAGLE – Sep 2 – The major shareholder of Spark Networks, Lloyd Miller, has just obtained ~ 568k shares of the company, coming to a total transaction of $938K. Lloyd is trying to quietly increase his company's share, same as he did in the last month. He acquired another 1.05M shares worth $1.61M. Lloyd Miller now has ownership of 5.35M shares of the company. Osmium Partners holds 7.35% of its portfolio in Spark Networks for 3.45M shares.
by Darren Black
See full article at Consumer Eagle
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Spark Networks Q2: Positive Net Income, $7.8M New Funding From PEAK6
SPARK.NET – Aug 10 – Spark Networks has entered into an agreement with PEAK6 Investments which saw a significant potential in Spark's Jewish and Christian brands. PEAK6 purchased 5M shares for $7.8M and owns now 16% of Spark's outstanding shares. PEAK6 executive Danny Rosenthal will become CEO and will join the board of Directors. PEAK6 Chief Architect David Budworth will become CTO, PEAK6 CMO Lisa McLafferty will become Chief Revenue Officer. PEAK6 President Brad Goldberg will join the Board of Directors.
Spark's Q2 Revenue was $9.1M, down 26% YOY. Net income was $329k, an YOY increase of $424k and a $3.7M increase from the prior quarter. Returns on direct marketing spend have improved. Every dollar in direct marketing spent has resulted in ~$5 in revenue in the Christian network segment (compared to $1.3 in Q2 2014). In the last few months, JSwipe began selling paid subscriptions which now represent 3% of total Jewish network's paid subscriber base.
Here is the earnings call transcript.
See full article at SparkNetworks website
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Lloyd Miller Acquires Another 13,100 Shares Of Spark
ENGELWOOD DAILY – July 9 – The major shareholder of Spark Networks Inc has purchased 13,100 shares of the company for around $18,340 USD. Lloyd is trying to quietly increase his company's share, same as he did in the last 30 days. He bought another 152,387 shares worth $222,995 USD. Lloyd Miller presently possess 3.73M shares or 14.41% of Spark's market cap. Analysts await Spark Networks Inc to report earnings on August, 3. After $-0.13 actual earnings per share reported by Spark Networks Inc for the previous quarter, Wall Street now forecasts -84.62% EPS growth.
The full article was originally published at Engelwood Daily, but is no longer available.
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Hornet Acquires Vespa, The Leading Gay City Guide
PR NEWSWIRE – July 5 – "With the acquisition of Vespa, Hornet will provide the most innovative set of apps to the 250M strong consumer segment of gay men worldwide, and will be able to extend its innovation lead by integrating gay places and events in 300 cities in 70 countries worldwide into its products." Vespa's founder and CEO Christof Wittig, who co-founded Hornet in 2011, has been appointed the new CEO, while co-founder Sean Howell is now Chairman and President of Hornet. With 15M total and 3M monthly active users, Hornet is the second largest gay social network worldwide after Grindr.
See full article at Hornet Blog
This post also appears on InternetDatingInvestments.
Ask.fm Sold By Match Group’s Parent Company
BBC – July 4 – IAC has sold the business to the asset management firm that specializes in tech. Ask.fm's Latvia-based management blogged that Noosphere was committed to keeping its 150M members safe. "Noosphere is committed to remaining vigilant on safety, and ensuring the progress made to date stays core to our DNA moving forward."