NYTIMES – Jan 11 – Beijing Kunlun will acquire 60% of Grindr, with the remainder to be owned by Grindr employees and Joel Simkhai, the company's founder. Grindr sees 2M regular visitors every day, who spend ~54 minutes using the app. Grindr's revenue was ~$32M in 2014, up 29% from $25M in 2013.
Category: All Acquisitions
Gay Dating App Grindr Gets $93M Investment From A Chinese Company
LATIMES – Jan 12 – Gay dating app Grindr has handed majority ownership to Chinese gaming company Beijing Kunlun World Wide Technology for $93M valuing Grindr at $248M post-investment. Grindr had been exploring a sale or fundraising round for much of last year.
by Paresh Dave
See full article at LATimes
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Jiayuan.com Shareholders Approved Merger With Baihe Subsidiaries
PR NEWSWIRE – Dec 28 – Jiayuan.com shareholders voted overwhelmingly in favor of the merger with LoveWorld and FutureWorld. Of the 56.7% of ordinary shares voted, 97.5% backed the deal, expected to close in Q1.
See full article at PR Newswire
A Major Shareholder At Spark Networks Is Buying Shares
ANALYSTRATINGS – Dec 28 – A major shareholder at Spark Networks, Lloyd I. Miller, bought shares of LOV for $820.6K. Lloyd I. Miller increased his holding by 8.04%. Over the last month, Lloyd I. Miller has reported 6 Buy trades on LOV for a total of $162.5K.
by George Macdonald
See full article at AnalystRatings
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“Double” Dating App Co-founders Said Yes To £75K For 15% Of Their Company
BBC – Dec 27 – Gary McDonagh, Loren Gould and Ben Greenock, co-founders of dating app Double, dressed in heart printed suits to pitch their group dating idea to investors in today's Dragon's Den episode. The location based dating app allows two friends to search for other pairs to arrange a double date. The trio was looking for £75K investment in return for a 10% stake in the business. They accepted £75K for a 15% stake in the business from Nick Jenkins. Congrats!
by Emma Powell
See full article at Evening Standard
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Spark Networks Paid $7M For JSwipe
SEEKING ALPHA – Dec 14 – Spark Networks paid $7M for a Jewish dating app JSwipe to boost its younger demographic in the Jewish Networks segment. JSwipe has ~450K users. Spark Networks pursued a patent infringement claim against then-competitor JSwipe in 2014. What started as a lawsuit ultimately ended in a key acquisition for Spark Networks.
See full article at SeekingAlpha
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Lloyd Miller Now Holds 10.29% Of Spark Networks’ Shares
FINANCIAL MAGAZINE – Dec 9 – Lloyd Miller is an insider in Spark Networks who is the latest to acquire shares in the corporation for which he is the current major shareholder. Lloyd has 2.66M shares right now (10.29% of Spark Networks' Market Cap). Osmium Partners holds 11.2%.
by Sally Goff
The full article was originally published at Financial Magazine, but is no longer available.
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Mamba Acquired Premium Dating Site Teamo
IZVESTIA – Nov 2 – Mamba has acquired 100% of Russian dating site Teamo.ru. The amount was not disclosed but experts estimate it at $25-40M.
by Vladimir Zykov
See full article at Izvestia
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Spark Networks Sued JSwipe First, Now It Is Buying It
MARKETWIRED – Oct 14 – Spark Networks, owner of JDate.com, is acquiring Smooch Labs, the owner of a millennial Jewish dating app – JSwipe. JSwipe now boasts ~450K downloads worldwide and ~40M messages between users. It plans to offer premium, paid features. The purchase price will be recorded in Spark's Q4 2015 financial statements. The founders of Smooch will join Spark Networks as a subsidiary of the company and will continue to play an active role in managing the JSwipe product.
See full article at Marketwired
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Enverro To Acquire Hong Kong Dating App DateTix
PROACTIVEINVESTORS – Oct 2 – Founded in 2013 and based in Hong Kong, DateTix is a dating app for people to host, discover, and go on real life dates. Enverro is the developer of a cloud-based workforce management platform designed specifically for the energy, construction and resources sectors. The company is acquiring DateTix for 12.5M ($0.40/per share) shares and 12M performance shares that vest on three key milestones.
See full article at Proactive Investors
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