Category: Parship Group

Q&A With Marc Schachtel, co-CEO of Parship Meet Group

Posted on December 15, 2021

ParshipMeet Group Marc SchachtelHORIZONT.NET – With the takeover of The Meet Group by Parship, ProSiebenSat1 (P7S1) became one of the top online dating companies. In this interview, Marc Schachtel, Co-CEO of the Parship Meet Group, gives insights into growth plans and the relationship with P7S1.

Q: Mr. Schachtel, you have been leading the Parship Meet Group since July 2021 together with The Meet Group founder Geoff Cook. How does the cooperation work?
A: We complement each other. We have a clear division of tasks that works very well: Geoff takes care of the video-focused apps – MeetMe, Skout, Tagged and Growlr. I am responsible for Parship, Elite Partner, eharmony and Lovoo.

Q: You are currently preparing for an IPO. Apart from that, what have you achieved in the past six months?
A: We managed to successfully lead the company through the pandemic.

Q: What are you doing better than the Match Group?
A: There is a space for many players. Today there are ~800M singles in the world; by 2025 there will be nearly a billion. It is crucial how we influence the market. I see it as our task to bring the quality back into the business and to keep dating safe and healthy. The pandemic has changed everything. We rolled out a video date function on our Parship, Elite Partner and eharmony platforms right at the beginning of the pandemic.

Q: Will avatars meet on your platforms at some point?
A: I was asked about the possibilities of virtual reality when I came to Parship in 2011. I assume that the topic of dating will shift to a certain extent into the virtual world, but in the end relationships are something deeply interpersonal, where chemistry and physicality play a big role. At the same time, we see ourselves as players in the Metaverse with our video products. We always describe our video brands as a bar to go to to be entertained and have fun while looking for a partner. Our B2B product Video Platform as a Service enables our partners to quickly integrate live streaming technology into their platforms and monetize it. vPaaS is now used in ~15 apps, most of them outside of our company.

Q: How does the cooperation with Pro Sieben Sat 1 work?
A: It is a success story that has grown gradually over a decade. With our video business, we are now also part of the entertainment industry. I'm a very big fan of the content work that has been done at P7S1 lately. Our new dating show "Love at First Kick" will certainly not be the last one.

by Katrin Ansorge
See full article at Horizon.net

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New Co-CEOs at ParshipMeet Group

Posted on July 20, 2021

ParshipMeetGroup_LogoOPW – July 20 – After 7 years, Tim Schiffers, the incumbent CEO, is handing over the baton to Marc Schachtel and Geoff Cook. Marc Schachtel (formerly COO) and Geoff Cook (Founder/CEO, The Meet Group) are now co-CEOs of ParshipMeet Group. Henning Rönneberg is CFO.

Tim successfully completed the merger of Parship Group with The Meet Group and is moving on to new challenges outside the organization.

Marc will lead the entire matchmaking business as CEO of Parship Group: Parship, ElitePartner, eharmony, LOVOO. See Marc's Linkedin post.

Geoff will continue to be responsible for the Social Dating & Entertainment division: MeetMe, Skout, Tagged, GROWLr and the live video streaming solution vPaaS, which powers the video solution of some of the largest dating and social apps in the world. See Geoff's Linkedin post.

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ProSiebenSat.1 Bounces Back in Q3

Posted on November 6, 2020

Prosiebensat logoADVANCED TV – Nov 6 – In the Q3 of 2020, ProSiebenSat.1 Group saw improved revenue and earnings figures compared to the previous quarter. ProSiebenSat.1 generated Q3 revenues of €921M (previous year: EUR 926M). The Meet Group and the matchmaking business Parship Group are forming the Group's new fourth segment ParshipMeet Group. Organically, Group revenues declined by 4% in Q3.

See full article at Advanced TV

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The Meet Group Acquired and Looking at 2022 IPO as ParshipMeet!

Posted on September 4, 2020

Parshipmeet group logoBUSINESSWIRE – Sep 4 – The Meet Group announced the completion of its acquisition by the parent company of eharmony. ParshipMeet Group was created to manage The Meet Group and Parship Group. It now operates MeetMe, LOVOO, Tagged, Skout, GROWLr, eharmony, Parship and ElitePartner.

The Meet Group focuses on community while bringing social entertainment to dating, monetizing through livestreaming video. Parship Group brands are market leaders in the matchmaking space; focused on serious relationships and monetizing through subscriptions.

The all-cash transaction represents an enterprise value of ~$500m.

"We are thrilled to combine with a globally leading matchmaking company," said Geoff Cook, CEO of The Meet Group. "We believe this deal will help define the future of dating. We will continue to focus on… building the best dating features in the world, …investing in livestreaming…, and discovering opportunities to expand and grow – organically and through strategic relationships, including our video-platform-as-a-service offering". 195k+ dating games are played each day across The Meet Group's apps, up 104% since March.

"The Meet Group's livestreaming video platform is unique and well positioned for a post-pandemic world where video becomes a critical part of finding and screening first dates," said Tim Schiffers, CEO of ParshipMeet Group. "By combining The Meet Group's assets with Parship Group's strengths, we've created a global dating leader and one of the most diversified portfolios of dating brands in the world. …We see significant potential to further the growth of The Meet Group's video platform-as-a-service products, as well opportunities for knowledge-sharing and cross-selling."

ParshipMeet Group is jointly owned by ProSiebenSat.1, a leading free-to-air TV broadcaster and video entertainment company in the German-speaking markets, and General Atlantic, a leading global growth equity firm providing capital and strategic support for growth companies.

See full article at Businesswire

Additionally, from ProSiebenSat1:
ParshipMeet Group has revenues of EUR 451 million and adjusted EBITDA of EUR 95 million as of H1 2020, for the last 12 months. Double-digit annual growth rates expected

The combined company operates as ParshipMeet Group, a newly-minted unicorn and a leading global player in the online dating market. ProSiebenSat.1 owns 53% and General Atlantic 43% in ParshipMeet Group. The remainder is held by management.

Rainer Beaujean, Chairman & CFO, ProSiebenSat.1 said, "This investment case is also another strong proof of concept of our ability to use the strengths of our Entertainment business to support the growth and development of consumer-facing digital platform and commerce businesses."

Joern Nikolay, MD, General Atlantic said, "We believe in the ability of ParshipMeet Group…to bring transformative digital innovation to the global online dating sector…and harness the power of technology."

Tim Schiffers, CEO, ParshipMeet Group said, "Online dating, and interactive live video in particular, is a global megatrend that will continue to transform all of our lives in the future. …Our brands span the whole spectrum of the online dating market: meeting, dating and falling in love. …We are perfectly positioned for sustained long-term growth."

ProSiebenSat.1 and General Atlantic are evaluating an IPO for ParshipMeet Group in 2022.

See full article at ProsiebenSat.1 website

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ProSiebenSat1 Given the “Go Ahead” to Acquire The Meet Group

Posted on July 6, 2020

Themetgroup logoHEISE.DE – July 6 – The Federal Cartel Office, Germany's national competition regulator, has no objection to the takeover of The Meet Group the ProSiebenSat1's subsidiary Nucom Group, which already owns Parship, Elite Partner and eHarmony.

by Volker Briegleb
See full article at Heise.de

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Prosieben to Float Its Dating Business in 2022

Posted on June 10, 2020

Prosiebensat logoFINANZEN.AT – June 10 – ProSieben is planning to spin off its dating business unit from the subsidiary Nucom and "bring it to the stock exchange at the right time at a profit," said board spokesman and CEO/CFO Rainer Beaujean. "We are currently targeting the 2022 financial year for this." ProSiebenSat.1 announced the acquisition of The Meet Group through Nucom for ~$500M in March. The meet shareholders approved the deal last week, now the antitrust authorities still have to agree. Prosieben will hold 55% of the merged online dating business, including the former Parship Group (Parship, ElitePartner, eharmony), and General Atlantic will hold 45%. The Parship Group was valued at €726M on the transaction's announcement date. "We are convinced that the takeover of The Meet Group will generate very high additional value," said Beaujean.

See full article at Finanzen.at

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CEO of ProSieben Dismisses Merger Speculation

Posted on June 10, 2020

Prosiebensat Rainer BeaujeanREUTERS – June 10 – ProSiebenSat.1 Media's new CEO resisted calls for a European TV industry merger. Rainer Beaujean, hired in March to run the German broadcaster after predecessor Max Conze's pivot to digital commerce unravelled, is under pressure to deliver better growth and profits as investors led by Italy's Mediaset circle. Beaujean vowed to chart a course to returns on capital of ~15%, saying he had made the company "storm-proof" in the face of a 40% slump in ad revenues. "A trans-European merger would bring few synergies," Beaujean said. ProSieben was not in strategic talks either with Mediaset or Daniel Kretinsky's Czech Media Invest, both of which have amassed double-digit stakes. ProSieben plans to float its online dating business in 2022.

by Douglas Busvine
See full article at Reuters

ProSiebenSat.1’s Shareholders Might Partner to Acquire the Company

Posted on June 2, 2020

Prosiebensat logoSEEKING ALPHA – May 30 – KKR & Co has built a 5.21% stake in ProSiebenSat.1 Media SE which makes it the third largest shareholder. Mediaset SpA has increased its stake to 24.2% while Czech Media Invest owns 10%. While KKR claims that the investment is of purely financial nature, it might be the first sign of an upcoming acquisition and privatization of ProSiebenSat.1. In order to do that, KKR could partner with one (or both) of the company's biggest shareholders. ProSiebenSat.1 intends to refocus on the entertainment business. However, the group's second pillar – NuCom – does not really fit into that picture. Therefore, it might indeed make sense to separate the two businesses. NuCom might be spun off or sold. General Atlantic owns 28.4% of NuCom. NuCom was valued with an enterprise value of €1.8B in early 2018. If sold today, it is surely worth considerably more, as it has been growing steadily and maintained profitability. The company is growing both organically and through acquisitions. ProSiebenSat.1 and General Atlantic have reached an agreement to purchase The Meet Group for ~$500M. Meet will be integrated into NuCom's online dating business.

by Christoph Liu
See full article at Seeking Alpha

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ProSieben Shares Rally After CEO Conze’s Departure

Posted on March 28, 2020

Prosiebensat logoREUTERS – Mar 27 – Shares in ProSiebenSat.1 Media rallied by 9% on Friday after the departure of CEO Max Conze. ProSieben announced that Conze was leaving with immediate effect and CFO Rainer Beaujean would assume his responsibilities. Conze had sought to accelerate a pivot to digital commerce and advertising to offset a relentless decline in ProSieben's core commercial TV franchise, but while this preserved top-line growth it squeezed profitability and pushed up debt. The recent announcement of the $500M takeover of The Meet Group incurred the disapproval of Italian broadcaster Mediaset, which took advantage of a precipitous decline in ProSieben's share price to up its stake to 20%. Mediaset wanted ProSieben to change course and concentrate on its core media business. Analysts at Citi said it was possible that Mediaset could partner with Czech investor Daniel Kretinsky, who owns a 10% stake in ProSieben, to make a takeover bid.

See full article at New York Times

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ProSiebenSat.1 Wants to Save Itself With Streaming and Dating

Posted on March 17, 2020

Nucom max conzeWELT – Mar 16 – CEO Max Conze has completely rebuilt the ProSiebenSat.1 station group. But profits continue to plummet, the stock keeps falling and the management staff is leaving. Most recently, the broadcasting group generated €4.14B in revenue and an adjusted profit of €872M euros . The net debt is €2.25B. A few days ago, Max Conze announced that the group, together with the US financial investor General Atlantic, would take over the American app developer The Meet Group for ~$500M.

Q: Mr. Conze, how satisfied are you with the financial results?
A: We are in the middle of transforming our business into a digital group and we are on the right track. The TV advertising market is certainly difficult right now but at the moment less than half of our revenue is generated by traditional TV advertising. We invested a lot into digital advertising business which has already grown 38% this year.

Q: Your e-commerce companies are bundled in the Nucom Group, in which the financial investor General Atlantic holds 25.1 % of the shares. Can you afford The Meet Group acquisition with a net debt of €2.25B?
A: Yes, we would not have made the offer otherwise. We will hold 55% of the new unit, while GA would increase the shares to 45%. The Parship group with the brands Parship, Eharmony and Elite Partner together with The Meet Group would represent a company value of ~€1.2B.

Q: Would it be large enough to be spun off from the NuCom Group and listed on the stock exchange?
A: If we can turn the combined Parship-Meet Group into a global leader, it would be logical to aim for an IPO in the US over the next two or three years.

by Klaus Boldt
See full article at Welt

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