Category: Zoosk

Spark Trading at Extreme Discount Relative to Competitors

Posted on August 13, 2021

Spark NetworksGURU FOCUS – Aug 13 – Transformation progress makes the stock a risky buy. The market is ignoring Spark's potential. The company ~1m monthly paying subs. Properties are: Zoosk, EliteSingles, SilverSingles, Christian Mingle, Jdate and JSwipe. Spark's efforts to turn itself around include a new C-level management team and R&D spending of $54mover the last 2 years for crucial product enhancements. Investments and changes will be realized in 2H 2021: live streaming video (launching Q3), social discovery functionality, improved matching algorithms, portfolio rebranded/look. Financial results were slightly down in Q4. YOY Q4 revenue decreased by $1.3 million to $56.4m because of a 3% decrease in average paying subscribers on Zoosk. The three largest legacy brands, SilverSingles, EliteSingles and Christian Mingle, grew at low double-digits in North America. Q1 2021 adjusted Ebitda was $4.8m, a decrease of $2.7m compared to $7.5m in Q1 2020, due to Zoosk and coupled with a headcount increase. Paying subscribers decreased 3% to 896,344 in Q1 2021. Monthly ARPU increased to $20.97 in Q1 2021. Spark's valuation ratios are ~90% lower than peers.

See full article at Guru Focus

Mark Brooks: Zoosk was a big pill for Spark to swallow. I trust the very considerable (former long term CEO of Criteo) Spark CEO, Eric Eichmann, and pragmatic MD/COO, Gitte Bendzulla to pull off this transformation.

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Spark Networks Begins Monetization of Zoosk Live!

Posted on July 12, 2021

Zoosk liveAITHORITY – July 10 – Spark Networks has begun to record revenue from Zoosk Live! a livestreaming service offered via a partnership with ParshipMeet Group. Zoosk Live! is the result of Spark leveraging ParshipMeet Group's Live video Platform as a Service (vPaaS) product, which powers some of the world's largest livestreaming video dating apps by monetizing user videos. The service offers a range of livestreaming options, including challenges, events, and interactive features like NextDate, a speed dating game.

See full article at AIThority

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Zoosk Launches Zoosk Live!

Posted on July 1, 2021

Zoosk livePR NEWSWIRE – July 1 – Zoosk, a flagship brand of Spark Networks, is rolling out livestreaming video community Zoosk Live! to its core markets. The livestreaming service, which is being offered via a partnership with ParshipMeet Group, is currently available for free to all Zoosk iOS and Android app users in the US, UK, Canada, and Australia. Members can stream, interact with, and create Zoosk Live! content using their existing Zoosk accounts.

See full article at PR Newswire

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Does Banning People With Felonies From Dating Apps Make Anyone Safer?

Posted on May 20, 2021

Banned from dating appsTHE MARSHALL PROJECT – May 20 – Match Group plans to launch a feature allowing daters to run background checks on potential matches. The company says its efforts are aimed at keeping users safe. But civil rights advocates say the record checks extend an unfair practice of imposing "collateral consequences" long after people have finished their sentences. "Meeting strangers can be risky, and I worry that this approach will mislead people into thinking they're safe," said Sarah Lageson, a Rutgers University sociologist who studies the growing use of online criminal records. People with felonies – anything from a $10 drug conviction to capital murder – are banned for life from some dating apps including Match Group's apps, Coffee Meets Bagel, Zoosk. A representative for The Meet Group said that only two of the company's apps – Skout and GROWLr – have a ban, based on policies it inherited when it acquired those apps. The representative said The Meet Group would reconsider that part of the policy.

by Keri Blakinger
See full article at The Marshall Project

See the top news on Match Group                 See the top news on The Meet Group
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Spark Networks Reports Second Half and Full Year 2020 Financial Results

Posted on April 1, 2021

Sparknetworks logo 2018SPARK NETWORKS – Apr 1 – Revenue for the second half of 2020 was $118.9M, an increase of $3.9M compared to $115M in the second half of 2019. Revenue for 2020 was $233M, an increase of $62.1M compared to $170.9M in 2019. For the full year in 2020, the significant increase in revenue is primarily attributable to the integration of Zoosk following the Spark Networks / Zoosk Merger in July 2019. Net Loss was $45.9M in the second half of 2020, an increase of $16.9M compared to Net Loss of $29M in the second half of 2019. Net Loss for 2020 was $46.6M, an increase of $11.7M compared to $34.9M in 2019, as adjusted.

See full article at Spark Networks website

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Spark Networks Partners With ParshipMeet Group to Deliver Livestreaming Video to Users

Posted on March 31, 2021

The Meet Group vPaaSPR NEWSWIRE – Mar 31 – Spark Networks will deliver livestreaming video to its largest brand, Zoosk, via an agreement with ParshipMeet Group, a leading provider of interactive dating solutions. Spark will leverage ParshipMeet Group's Live video Platform as a Service (vPaaS) product, which powers some of the world's largest livestreaming video dating apps by monetizing user videos. Geoff Cook, CEO The Meet Group and GM Video ParshipMeet Group said "Nearly 250,000 dating games now take place across our Live communities every day allowing members to connect, safely meet, and fall in love."

See full article at PR Newswire

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Zoosk Faces Negligence Suit in California Over User Data Hack

Posted on February 2, 2021

Zoosk logo May 15BLOOMBERG LAW – Feb 1 – Zoosk must defend against negligence claims brought by California residents whose personal identifying information was allegedly compromised by hackers last year, a federal judge ruled. Zoosk had a duty to protect sensitive personal info, the judge says.

by Porter Wells
See full article at Bloomberg Law

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Zoosk Parent Unable to Shake Data Breach Class Suit

Posted on January 29, 2021

Sparknetworks logo 2018BLOOMBERG LAW – Jan 29 – Zoosk's parent company Spark Networks failed to convince a federal judge in California that it should be immune from a proposed class action over a hack of its dating site because the court doesn't have jurisdiction over the German corporate partner. Zoosk data was allegedly accessed and stolen by a group known as ShinyHunters in January 2020 and put information for sale on the dark web.

by David McAffee
See full article at Bloomberg Law

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How Tinder Became the App That Defines Online Dating

Posted on January 9, 2021

Tinder logo classicFINANCIAL TIMES – Jan 8 – In the Q2 of 2020, Tinder reported a record 3B swipes in a single day. Shares in parent company Match, whose subsidiaries also include Hinge and OkCupid, traded at a record high in mid-December as it joined the Nasdaq 100. Rival Bumble has taken the opportunity to reportedly file for an IPO. When Match listed in 2015 it priced its shares at $12 each. They now change hands for $153. Success is down to Tinder's relatively simple set-up. Tinder, which accounts for more than half of Match's 11M subscribers, has a subscription level that allows users to see who likes them. This lure has helped Tinder convert free users to subscribers without spending large sums on marketing. Five years ago, Zoosk revealed that it was spending 84% of revenues on marketing before it pulled plans for an IPO. Tinder spent the equivalent of 20% of revenue on marketing in the most recent quarter.

by Elaine Moore
See full article at Financial Times

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Zoosk Calls Jan 3 Best Day for Online Dating, Predicts 2.58M Messages

Posted on December 17, 2020

Zoosk logo may 15ZOOSK – Dec 17 – Zoosk has revealed that January 3, 2021 could be the perfect day to meet someone online. That’s because it's 'Dating Sunday,' traditionally the busiest day of the year for dating sites. Zoosk is predicting an activity surge, including 2.58M messages sent via the platform. Zoosk is also anticipating a 24% boost in registrations.

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