OPW – May 23 – Match.com posted 2013 revenues of ~$800M and profits of $220M, including Meetic. Spark Networks projected 2013 revenues were ~$70M, with ~$13M in loss due to high marketing expenses. Jiayuan.com will earn an estimated $80M in 2013 revenues, with projected growth to $300M in 2015.
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OPW – May 15 – Q1 '14 revenue was $16.6M, a decrease of 4% YOY. Net loss was $2.9M, same as in the year ago period. The number of paying subscribers also decreased 3% YOY. The company is now focusing on profitability, according to its CEO, Greg Liberman.
MARKETWIRED – May 7 – In the letter, SparkNetworks highlighted the company's progress (see the table below), and asked investors not to vote for "an unproven group of director candidates who seek to acquire control of the company". SparkNetworks is referring to Osmium, a major stockholder (14.1% of the company) seeking to replace a majority of the Board.
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SEEKING APLHA – Apr 25 – Spark Networks' management is finally changing its practices, as the largest stockholder just turned activist. JDate is highly profitable, but not growing. ChristianMingle is growing rapidly, but bleeding money. The largest stockholder is Osmium Partners, which is run by the activist investor, John Lewis. Osmium owns 14.1% of the company. Spark Networks' management's success is being debated publicly. CEO Gregory Liberman served as President from 2006 and as CEO since 2011. John Lewis complains about the excessive pay of executive officers. Mr Liberman made $1,471,737 in 2012 and $900,015 in 2011. The pay of $825,000 in 2012 in stock options is especially disturbing, given that he is overseeing a non-profitable small capitalization company. The proxy fight will reach its peak in the Annual Meeting of Stockholders scheduled on June 18, 2014. Whether Osmium wins or loses the board seats, the process serves to wake up the executive management and the board, mandating them to take actions for the benefit of shareholders.
by Tal Davidson
The full article was originally published at Seeking Alpha, but is no longer available.
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TICKER REPORT – Mar 25 – Spark Networks' major shareholder 402 Capital acquired 13K shares of the stock. The stock was purchased at an average cost of $4.99 per share, for a total transaction of $64,870.
by Shane Hupp
The full article was originally published at Ticker Report, but is no longer available.
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FORBES – Mar 22 – Singles are now using dating apps to meet potential partners even in environments such as Davos and SXSW when they are physically surrounded by smart, attractive and interesting singles. According to Spark Networks’ latest study one third of singles agree it’s less intimidating asking someone on a date via SMS vs. a phone call. 55% of singles agree their mobile makes it easier to flirt and get to know someone.
WKRB 13 – MAR 20 - Spark Networks major shareholder 402 Capital Llc acquired 112,561 shares. The shares were purchased at an average price of $4.95 per share, with a total value of ~$557K.
by Scott Davis
The full article was originally published at WKRB 13, but is no longer available.
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STREET INSIDER – Mar 12 – Osmium Partners owns 14.1% of Spark Networks common stock, making it the company's largest shareholder. The following is a short version of the open letter sent to the shareholders of Spark Networks.
Dear Fellow Shareholders,
For years we have acted as strong shareholder advocates. This letter highlights the prolonged underperformance and the critical need for significant change in the Company’s Board of Directors. Since the current CEO was appointed on June 15, 2006, Spark’s market capitalization has declined by 25%. Match.com has grown 4.5 times faster than Spark Networks. Since 2013, shareholders who purchased the 9.76M shares from Great Hill Partners and the company for $6.15/share have lost 22% of their investment.
We deserve change. If elected, our slate of Director Nominees would focus on the following Action Plan:
Sincerely,
John H. Lewis
The full article was originally published at Street Insider, but is no longer available.
FORBES – Mar 10 – At a panel at SXSW in Austin, Greg Liberman, the CEO of Spark Networks, spoke about the history of online dating. Mobile has completely taken over dating. Singles, especially those in their twenties, love texting to get to know people. 50% of those aged 21-to 26 report texting a few times a day before going on a date. 68% of singles still think it's important to talk on the phone before a face-to-face date. Dating is now a 24 hour a day activity. 44% check their phone first thing in the morning. A quarter of all singles aged 21 to 26 actually sleep with their phone in bed with them.
USA TODAY – Mar 6 – Spark Networks fizzled 19% to $4.66 last week after the company said 2014 could be a tough year for ChristianMingle and JDate. Shares are down ~50% from its May 2013 peak of $9.25 a share. The company is in a proxy fight with hedge fund Osmium Partners, which has amassed a 14% stake in the company and is proposing a slate of directors and says the company needs better management.
by Gary Strauss
The full article was originally published at MarshfieldNewsHerald, but is no longer available.