Category: JSwipe

Spark Networks Q2: Positive Net Income, $7.8M New Funding From PEAK6

Posted on August 11, 2016

Sparknetworks logo new Jan 13SPARK.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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Summarized by the Courtland Brooks team

JSwipe Launches Premium “First Class”

Posted on July 16, 2016

Jswipe iconMARKETWIRED – July 15 – New features include: Boost (profile shown 2x more often), Optimize (a photo review), Passport (ability to change search location), and Super Swipes. The upgrade is available on both IOS and Android mobile platforms for only $18/month.

See full article at Yahoo

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Spark Networks Q4 And Fiscal Year 2015 Financial Results

Posted on March 7, 2016

Sparknetworks logo new Jan 13MARKETWIRED – Mar 3 – Q4 '15 revenue was $10.7M, a YOY decrease of 25%, primarily driven by a decrease in average paying subscribers. Q4 '15 adjusted EBITDA was $116K, a decrease from $4.1M in the year ago period and $309K in the prior quarter. For the full year 2015, total revenue was $48.1M, a YOY decrease of 22%. In 2015 Spark Networks strenghtened mobile portfolio and extended reach into millennial demo through acquisition of JSwipe for $6M and launch of dating app CrossPaths.

See full article at Spark.net

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OPW Interview With Michael Egan, CEO Of Spark Networks, During iDate Miami

Posted on February 8, 2016

OPW – Feb 5 – Last year was a turnaround for Spark Networks. Four directors were voted out and new board came in. Michael Egan joined in as CEO in December 2014 from Internet Brands. Since the company had no proper mobile product, a lot of effort in 2015 was put into building a mobile dating app. They launched dating app Spark, which was an experiment, and later Crosspaths, a Tinder-like dating app within the Christian community, that has now ~20K monthly active users in LA.

Michael Egan also talked about JSwipe acquisition. Last summer Spark Networks sued Jewish dating app JSwipe but soon realized that JSwipe user base was very complementary to jDate (90% of JSwipe users are under 30, jDate users are 35+), and decided to buy it instead for $7M.

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Spark Networks Paid $7M For JSwipe

Posted on December 14, 2015

Spark networks jswipe logosSEEKING 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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Latest Trend In Online Dating: Matches Don’t Last Forever

Posted on November 29, 2015

Dating appWASHINGTON POST – Nov 28 – Hinge is the latest dating app to add time limits; after a match, users have 24h to start a conversation or the match disappears. If they start chatting, they have 14 days before their conversation vanishes. Bumble also puts a 24h limit on matches; JSwipe matches disappear after 18 days if no one says hello. "Time limits give users that extra momentum to meet up in person," thinks Eli Finkel, a social psychologist. Hinge saw a 70% increase in chats started, and a 50% in how often matches exchanged phone numbers.

by Lisa Bonos
See full article at Washington Post

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Spark Networks Q3 Financial Results – Revenue Down 22%

Posted on November 4, 2015

Sparknetworks logo new Jan 13MARKETWIRED – Nov 11 – Q3 revenue was $11.7M, a YOY decrease of 22%, and a 5% decrease from the prior quarter. The YOY decrease was primarily driven by a decrease in average paying subscribers. Direct marketing expenses were $4.4M, down 27% YOY. Net loss was $(822K). Subscribers grew 0.5%. In October, Spark Networks bought Smooch Labs, the developer of JSwipe, the popular Jewish millennial dating app. Spark Networks hopes to monetize the app soon.

The full article was originally published at Spark Networks website, but is no longer available.

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Summarized by Courtland Brooks Internet Dating Marketing Consulting agency

Hinge Dating App Has Begun Expiring Matches After 24 Hours

Posted on November 4, 2015

  Hinge logo new dec 13QZ – Nov 3 – Today, Hinge announced that users will have 24 hours to begin a conversation with a match before they disappear forever. Hinge joins Bumble and JSwipe in putting users on a 24 hour deadline to communicate. Bumble boasts a 60% conversion rate of match-to-communication, and Hinge reports that the share of matches that resulted in conversations increased by 50% when they ran a beta version of the new deadline for a week.

by Kate Groetzinger
See full article at QZ

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Spark Networks Sued JSwipe First, Now It Is Buying It

Posted on October 15, 2015

Spark networks jswipe logosMARKETWIRED – 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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Summarized by Courtland Brooks Internet Dating Marketing Consulting

JSwipe Attempts Crowdfunding Campaign To Save Itself From JDate

Posted on August 5, 2015

Jswipe crowdfunding campaignOBSERVER – Aug 5 – David Yarus, founder of JSwipe, launched a crowdfunding campaign on Indiegogo to raise $180K to protect itself against a suit by Spark Networks, the parent company of JDate. Supporters have committed $12K so far. JDate claims that JSwipe has violated its trademark, using the letter J. It also claims that JSwipe has violated its patent on an “apparatus for detection of reciprocal interests or feelings and subsequent notification.” JSwipe is a ten month-old startup, similar to Tinder. "Our case against JSwipe is about their theft of our technology and their brazen attempt to build a business on the back of JDate,” said Michael Egan, CEO of Spark Networks.

by Brady Dale
See full article at Observer

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Summarized by Courtland Brooks Internet Dating Marketing Consulting