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Category: Lovestruck

A Sad Valentine’s Day for Love Group Global

Posted on February 14, 2020

Lovegroup logo 2020THE MARKET HERALD – Feb 14 – Love Group Global has reported it has been hacked, with the offender accessing the server and CRM files. The online dating provider did not specify how many clients had been impacted or which services they were using. Love Group has a range of dating services from free online dating to premium matchmaking such as Lovestruck and Noonswoon. Love Group has reported the incident to the Hong Kong Police and the Office for the Privacy Commissioner for Personal Data in Hong Kong.

by Samantha Goerling
See full article at The Market Herald

See the top news on Love Group

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Interview With The Head Of Lovestruck Infinity Matchmaking, Lorraine Adams

Posted on February 17, 2018

Lorraine Adams Lovestruck InfinityOPW INTERVIEW – Feb 17 – Lovestruck is a UK dating brand that was bought by a Hong Kong company in mid-2016. They partnered with Gorgeous Networks (GN) to do matchmaking. A fascinating and tough field for dating sites. Here's my interview with Lorraine Adams, CEO of GN.

What is your company and founding story?
Gorgeous Networks launched Speed dating events in 2000. The media had a love affair with the Speed dating trend and the events we ran were called, 'Gorgeous Get-Togethers.' One year later I started my first online dating site aimed at busy professionals. I have continued servicing this demographic by introducing new events, online sites and in recent years matchmaking services with my 'Coffee and Company' brand. I also had 'Calcudating' published in 2010.

You've teamed up with Lovestruck for matchmaking services, how does that work?
Gorgeous Networks was approached in February 2017 by the Love Group who had acquired high-end online dating site 'Lovestruck' from founder Brett Harding months earlier. As a company with a big audience in East Asia the Love Group felt they needed to evolve the online business to stay in tune with the needs of their core demographic, busy professionals. They decided an affordable matchmaking service could potentially be the answer. Research had shown many of their typical online users were becoming jaded with the online dating experience.

Lovestruck Infinity was launched in London in March 2017 to offer an alternative to online dating. I put together and trained a team of talented sales people and client services staff and worked closely with the Love Groups new CEO Michael Ye, to help build a pioneering CRM system which included my unique matching algorithm. I trained the East Asian teams on how to operate a matchmaking service. The aim was to build and scale a service similar to the Coffee and Company brand.

The new business direction has been a success and really seems to have struck a chord with an audience who were very obviously lacking enthusiasm to continue with online and App dating.

What kind of matchmaking do you do and where?
We market ourselves as a Match Consultancy to our potential clients and we offer a great service. After a free face-to-face sales consultation in our London West End offices joiners are then invited in for a full evaluation. This is to understand their key qualities, traits and attributes, such as values, energy aura and characteristics. We also look at what we call a clients specific 'Dating DNA' – their masculine or feminine traits and preferences. Learning all of this helps us ascertain if there's a good chance of a mutual chemistry between prospective match candidates.

How much do you charge?
Our team creates the clients profile, source matches and make all the arrangements for the coffee date or a glass of wine. They also seek and give an overview of the feedback after the date. Our fees range from £500 – £4k+vat which is far more affordable than typical matchmaking services. We operate in London, Hong Kong, Singapore, Shenzhen and Bangkok. Typically our conversion rates from online users to Match making services is around 50/60%. The Love Group is hoping to expand their business as a global franchise operation. The business model could be very appealing to other online dating businesses looking to open new revenue streams.

See all posts on Lovestruck
See all posts on Love Group

Post by Mark Brooks , CEO IDEA

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Love Group Reports Record Quarter

Posted on July 29, 2017

Love group logoOPW – July 28 – Love Group has a portfolio of online dating platforms, including Lovestruck, DateTix and Noonswoon. Currently the vast majority of the company's online dating revenues come from Lovestruck, which charges subscribers a fee that ranges from $25 to $75 per month. The DateTix and Noonswoon apps are freemium based apps. The Love Group ended fiscal year 2017 with a record quarter ($1359K in cash receipts, up 95% compared to the previous quarter).

Download the full press release

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See all posts on Noonswoon
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Post by Courtland Brooks team

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DateTix Half Year Financial Results

Posted on March 1, 2017

Datetix logoDATETIX – Feb 28 – Hong Kong-based public online dating group DateTix has released FY17 half year report ended Dec 2016. The revenue was ~770K, 572% increase YOY driven by Lovestruck acquisition. The company reported loss of $2.1M, 131% increase YOY.

See the full report here

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Summarized by the Courtland Brooks team

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DateTix Group Raises $1.75M To Boost Dating App Growth

Posted on December 5, 2016

Datetix logoPROACTIVE INVESTORS – Dec 5 – DateTix Group has raised $1,759,600 via a placement to new and existing Asia and Australian-based investors at $0.34 per share. DateTix is a mobile app that facilitates on-demand dates. DateTix recently completed the acquisition of Lovestruck, a premium online dating platform currently operating in Hong Kong, Singapore and the United Kingdom.

See full article at Proactive Investors

See all posts on DateTix

This post also appears on InternetDatingInvestments.

Summarized by the Courtland Brooks team

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DateTix Buys Lovestruck

Posted on July 1, 2016

Datetix lovestruck logosAAP – July 1 – DateTix Group will buy Hong Kong, Singapore and UK-based online dating platform Lovestruck for 2M shares and an earn-out consideration of $270K. The purchase will increase DateTix's active user base by 259%. Lovestruck had revenues of $2.3M in 2015, with 96% coming from recurring membership subscriptions. The company will look to localise Lovestruck for the Chinese market, whilst launching DateTix into Europe via Lovestruck's UK footprint.

The full article was originally published at News.com.au, but is no longer available.

See all posts on DateTix
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This post also appears on InternetDatingInvestments.

Summarized by the Courtland Brooks team

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LoveStruck Wants To Raise New Funding Via InvestingZone

Posted on May 8, 2014

Lovestruck logo new May 14CROWDFUNDINSIDER – May 7 – InvestingZone, the equity crowdfunding platform, will be helping Lovestruck.com raise capital to fuel its international expansion. The company is looking to raise ~£800K. LoveStruck.com connects urban professionals who live or work nearby via web and mobile. Founded in 2006 in UK, Lovestruck claims ~150K subscribers. The company also operates in Hong Kong and Singapore, which are now responsible for a third of total revenues.

by Samantha Hurst
See full article at CrowfundInsider

See all posts on Lovestruck

Learn more about Courtland Brooks

This post also appears on InternetDatingInvestments.

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Online Dating Association Interview With CEO George Kidd

Posted on February 18, 2014

Online Dating Association George KiddOPW INTERVIEW – Feb 18 – Germany has SPIN Kodex, a code for online dating sites that defines clear rules related to cancellations policy, recurring payments and privacy issues. UK has Online Dating Association (ODA) that gets standards in place. 13 UK internet dating companies are supporting the initiative now, including Match.com, eHarmony, FreeDating.co.uk, ChristianConnection.co.uk, DatingFactory and others. Here is our interview with George Kidd, the CEO of ODA.

What is ODA?
It’s a trade association for online dating businesses offering services to UK users. We work to set and maintain standards to protect users and to create a climate in which businesses can invest and innovate. We aim to inform and influence Government, regulators, the media and businesses on whom we have a reliance and close relationship.

Who are the founding members of ODA?  
We had thirteen founders. This was an informal group of people who decided to take a lead in testing the case for an association and willing to put in the backing to get it off the ground. I am particularly grateful to Duncan Cunningham, our Chairman and his board; Jackie Elton, Karl Gregory, Julia Porter and Dan Winchester for their work.

How is it funded?
We have a hybrid funding model with a membership fee and a fixed payment for each site registered with ODA and carrying our logo and links.

We want to accommodate different business models including “white label”. We charge £50 per site alongside our core membership fee addressing the cost and complexity of dealing with a potentially very large and variable number of sites via the WL provider rather than each individual partner. But we do want to open membership to a broader set of those with interest and investment in the sector, including WL partners, IT, marketing, finance and other players.

What's your role and background George?
I had 20 years in Government, including time setting up the “Better Regulation Task Force and the Food Standards Agency. I worked on enforcement policy across Government and on deregulation drives in the leisure, employment and other sectors. I left over ten years ago to be CEO at PhonepayPlus, a telecoms content regulator.

I have been Chief Commissioner at the Direct Marketing Commission and Chair of UKPAC – the UK register of lobbyists. I have had non-exec board roles in legal services regulation and consulted for UK firms and an overseas government. I was British Consul in Chicago for four years promoting US investment in the UK.

Who's helping you?
eHarmony and Match and newer and niche sites like Muddy Matches, Lovestruck, Christian Connections and Would Like to Meet have helped with technical advice, media back-up, thoughts on funding models and ideas on what we and all members might be telling users when it comes to safe as well as enjoyable dating.

Leading white label firms have taken us through their customer service and support arrangements and they have coached us on the fraud issues.

What can you do for owners of iDating companies?
We want to be the eyes, ears and voice for the industry. We also want to play a role in developing and sharing best practice, as we have started to do with guidance on user safety.  We will certainly be looking at what members say on subscriptions and renewal arrangements. 

Do you function similarly to the BBB?  How do you help users when they take issue with iDating sites performance?
The ODA has standards in its Code and we need to be sure these are being met. We would not want to get between companies and their users. ODA member has a duty to us and other members to have appropriate and effective arrangements in place for handling complaints.

Where can we find information on the code of conduct required by members?
On our website – www.onlinedatingassociation.org.uk. You can go direct to the Code at http://www.onlinedatingassociation.org.uk/membership/code.html.

The Code has some general rules:

  1. Be honest and clear in your communications
  2. Protect users
  3. Deliver what you promise to meet user needs
  4. Protect data and privacy 

How much is the membership, and how does it work?
It is based on their revenue. We have had to think about how to deal with pure start-ups, including those who launch with a free model. We then had to think about the need for a cap at the top-end to recognise that even the very largest business will have limits on the support they can be asked to give.

The fee is far less than half of one percent of turnover. This puts funding between £1,250 and £6,000 for all but the very smallest and largest of businesses. 

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Lovestruck Turned Into A £6 Million Hit

Posted on December 21, 2013

Lovestruck logo new Aug 13THISISMONEY.CO.UK – Dec 19 – Since an initial investment of £285K in 2000, Lovestruck has generated £5.7M revenue. Initially, it started off as LunchdateLondon as a site that introduced people who live or work near each other for a quick coffee, lunchtime or after-work dates. But people were meeting up after work so the site changed its name to Lovestruck. Lovestruck's Brett Harding offers advice to start-ups entering into a saturated industry: Know your customers, know your competitors, validate your assumptions with a half-baked product. Once validated, make it a world-class one. Keep unnecessary cash burn to an absolute minimu.

by Amy Andrew
See full article at ThisIsMoney.co.uk

See all posts on Lovestruck

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Lovestruck Is UK’s 5th Top Startup

Posted on November 19, 2013
Lovestruck logo new Aug 13THE GUARDIAN – Nov 18 – Deloitte has published its Technology Fast 50, which charts the 50 most rapidly growing tech companies in the UK. Their combined annual revenue is £672M but the average five-year growth rate is 1,382%.
 
Here's the top 10:
  1. Infectious Media
  2. Avecto
  3. AlertMe
  4. Mobile Account Solutions
  5. Lovestruck.com – dating site for busy people. Lovestruck's growth rate has been 2,658%.
  6. Monitise
  7. Sixteen South
  8. FreeAgent
  9. Equal Experts UK
  10. Backbone Connect

by Samuel Gibbs
See full article at Guardian.co.uk

See all posts on Lovestruck

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