Category: SparkNetworks

Spark Networks Reports Second Quarter 2010 Financial Results

Posted on August 13, 2010

Sparknetworks MARKET WIRE – Aug 12 – Revenue for Q2 2010 was $10.3M, a decrease of 8% compared to $11.2M for Q2 2009, and a decrease of 2% compared to $10.5M in the prior quarter. Net income for Q2 2010 was $923,000, or $0.04 per share, compared to $1.9M, or $0.09 per share, for Q2 2009. Average paying subscribers for the Company, as a whole, decreased 2% YOY to 160,239. Revenue for Jewish Networks was $6.7M a decrease of 6%. Revenue for Other Affinity Networks was $2.8M, a decrease of 16%. Revenue for General Market Networks was $298,000, a decrease of 57%. Average paying subscribers for Jewish Networks were 89,055, an increase of 8% compared to Q2 2009.

The full article was originally published at Trading Markets, but is no longer available.

Mark Brooks: JDate up, everything else down. You can see a detailed overview of Spark's trending numbers on the right bar under Financial Pages. We also list Match, Meetic and Snap Interactive and will be listing EasyDate soon.

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As Dating Pool Shrinks, Love Matches Grow

Posted on June 21, 2010

Sparknetworks ABC NEWS – June 18 – Spark boasts 32 dating sites in all. Adam Berger,
CEO of the Spark Networks, calls it "niche" dating. "Niche dating makes
people instantly feel comfortable," said Berger. "They're among people
who are just like themselves in many different ways." JDate, which
caters to Jewish singles, is Spark Networks' most successful and
popular web site. It claims 750,000 active users. While JDate may be
the most well-known of the dating web sites, Spark's other niche web
sites are booming. "ChristianMingle has probably been one of the sites
that's grown faster than any other lately," said Berger. Subscriptions
to Spark Networks sites cost from $9.99 to $39.99. The company
maintains call centers where Spark representatives help love-starved
subscribers find ways to improve their profiles and dates. The center
takes more than 1,700 calls a day. FULL ARTICLE @ ABC NEWS

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Spark Networks’ Q1 2010 Financial Results

Posted on May 14, 2010

Sparknetworks MARKET WIRE – May 14 - Revenue for the Q1' 10 was $10.5M, a decrease of 12% compared to $12.0M for the Q1'09. Q1' 10 revenue for Jewish Networks was $7.1M, a decrease of 7%, for General Market Networks was $370,000, a decrease of 61%, for Other Affinity Networks was $3.0 M, a decrease of 10%, for Offline & Other Businesses was $113,000, a decrease of 47%. Average paying subscribers for Jewish Networks were 93,235, Other Affinity Networks has 68,124 subscribers and General Market Networks has 7,813 subscribers.

The full article was originally published at Market Watch, but is no longer available.

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Date Site Operator To Play The Field

Posted on April 26, 2010

Sparknetworks LA BUSINESS JOURNAL – Apr 26 – Spark Networks turned down a March 2 offer from Great Hill Equity Partners III, a Boston-based private equity fund that owns 44% of Spark, to buy the rest of the company for $3.10 per share. The bid represented a 5% premium to Spark’s March 1 closing price of $2.95 and valued the company at $64M. The offer was widely denounced as low ball for Spark, which owns 29 niche dating sites, including JDate.com. Osmium Partners, another fund that owns 6.1% of Spark, called the deal “grossly inadequate” and vowed to fight any offer less than $6 a share. Shares have since risen, closing at $3.59 on April 22. Mark Brooks, editor of OnlinePersonalsWatch.com and a dating service consultant, believes the Great Hill valuation was probably about right – for now. “I think the valuation is pretty solid at $3.10,” Brooks said. However, he believes that Spark can do better. “I know the management at Spark Networks and they are smart people. Someone is going to acquire them,” he said. “They have a hallmark brand and they think they can do better once the market picks up.” The decline in Spark’s business corresponds to a slump in the entire online dating sector, as paid providers face new competition from free dating sites and social networks such as Facebook, Brooks said. FULL ARTICLE @ LA BUSINESS JOURNAL

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Spark Networks Rejects Proposal From Great Hill Equity Partners

Posted on April 7, 2010

Sparknetworks MARKET WATCH – Apr 6 - Spark Networks announced today that the Special Committee of the Board of Directors of the Company has unanimously rejected the March 2, 2010 proposal by Great Hill Equity Partners III, LP and certain of its affiliates to purchase all of the outstanding shares of common stock of the Company not owned by Great Hill for $3.10 per share and will continue to consider all other strategic alternatives available to the Company.

The full article was originally published at Market Watch, but is no longer available.

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Investigation On Behalf Of Shareholders Of Spark Networks

Posted on March 16, 2010

Sparknetworks YAHOO FINANCE – Mar 13 - Law Offices of Howard G. Smith is investigating potential claims against the board of directors of Spark Networks, related to a proposal by Great Hill Partners III, to acquire Spark Networks. Under the terms of proposed transaction, Great Hill Partners would acquire all of the outstanding shares of common stock of the Company not owned by Great Hill Partners, at a cash purchase price of $3.10 per share, an approximate 5% premium over Spark Networks’ closing price on March 2, 2010. Following the close of the transaction, Spark Networks would no longer be a public reporting or trading company. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by the Spark Networks board of directors.

The full article was originally published at Yahoo Finance, but is no longer available.

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Internet Dating Industry Weekly News March 15th, 2010

Posted on March 16, 2010

This is the news for March 9th through March 15th, 2010. Here is the news we covered:

  • Zoosk ranked #42 in Wall Street Journal’s top VC backed companies
  • AreYouInterested.com iPhone App going strong
  • Sex.com domain up for auction
  • Match & Meetic partner in Latin America
  • Zhenai.com posts strong growth numbers

OkCupid’s Yagan On Great Hill’s Offer For Spark

Posted on March 11, 2010

THE DEAL – Mar 11 – OkCupid CEO Sam Yagan said he was surprised private equity firm Great Hill Partners made an offer to acquire the remaining 56% stake of Spark Networks it does not own. Spark is the parent of online dating sites JDate, BlackSingles.com, and ChristianMingle.com. The proposal, valued at $3.10 per share, is not receiving much love from some shareholders. Yagan gives his thoughts on the offer in the video below.

The full article was originally published at The Deal, but is no longer available. 

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Spark Networks Full Year 2009 Financial Results

Posted on March 5, 2010

Sparknetworks MARKET WIRE – Mar 4 - Revenue for the Q4 of 2009 was $11.1M, a decrease of 16% compared to $13.2M for the Q4 2008, and flat with the prior quarter. Revenue for the full year was $45.4M, a decrease of 21% compared to $57.3M for the 12 months ended December 31, 2008. Average paying subscribers for the Company, as a whole, in the Q4 of 2009 were 168,646, a decrease of 5% compared to 177,011 for the Q4 of 2008. Average paying subscribers for the full year were 166,267, a decrease of 11% compared to 186,957 for last year. Q4 2009 revenue for Jewish Networks was $7.1M, a decrease of 11%. Q4 2009 revenue for General Market Networks was $477,000, a decrease of 63%. Q4 2009 revenue for Other Affinity Networks was $3.0M, a decrease of 15%.

The full article was originally published at Market Watch, but is no longer available.

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