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Cupid says independent report finds no fake profiles. Dating firm Cupid rejects ‘fake profiles’ allegations. The Edinburgh-based firm said it was selling the business to Grendall Investment Limited in order to focus on its niche and mainstream sites. The deal includes casual dating sites such as Benaughty. Cupid will continue to operate a number of mainstream and niche dating sites, including Cupid. It will also continue to run dating events business Speeddater. Cupid’s share price climbed by more than In a stock market announcement, the company said it had decided to sell its “casual dating” sites because they did not fit in with its long-term strategy. It said: “Cupid plc believes that in niches and mainstream dating, customers are demanding increasingly higher quality and that this can be a rewarding area for the company to focus its efforts. It added: “As such the casual sites do not fit within this approach and the board believes that realizing cash from their sale to a party focused on owning such assets is a very positive step for Cupid plc.
Online dating service company Cupid Media suffered a data breach earlier this year that exposed more than 42 million customer records, including names, email addresses, birthdays and passwords held in plaintext form. The breach occurred in January , and the company told no one for the last 11 months. Only the actions of security evangelist Brian Krebs uncovered the truth. Cupid media describes itself as a “digital media and internet information services company that operates over 30 innovative, interactive dating sites focused on niche markets based on ethnicity, religion, physical appearance, sexual preference or special interests.
The Southport, Australia-based company, released a statement via their managing director, Andrew Bolton:.
Polyakov, a co-founder of Cupid, continues to hold a 15 percent stake in the online dating company. Cupid shares were up 14 percent at The company also signed a software licensing agreement with Grendall that it said would generate 2 million pounds of revenue over four years. The casual assets generated total sales of about
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Shares in dating website operator Cupid dropped 24 per cent on Monday on the announcement it plans to sell off its remaining dating sites as it looks to reclassify as an investment company. It also proposes to rename itself Castle Street Investments plc if plans to reclassify as an investment company are approved. The Edinburgh-based company will seek shareholder approval for the sale at a general meeting on December Cupid said the move to sell off its remaining dating sites follows a strategic review of the business.
Cupid reported in most recent full-year results the success of the casual dating sites had masked worsening conversion and churn rates of its core dating sites business. Last year Cupid, which operates Cupid. The KPMG report found no evidence Cupid was using fake user profiles, but did find Cupid staff who had a presence on its dating sites were not clearly identified.
By Scott McCulloch.
Cupid Media’s Filipino Dating Site Surges Past 2 Million Member Mark
Cupid Media is a rapidly growing online dating network that sees 20, new customers each day. The company has helped over 30 million people worldwide look for love across its 36 different dating sites in countries worldwide. With a need to address its growing demand for additional languages, the company turned to SDL to implement its Machine Translation technology.
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The Edinburgh-based owner of the Uniform Dating website said it would become a cash shell following the deal, with a view to investing in other firms or returning capital to investors. However, shares in the Aim-quoted firm fell heavily after the announcement, ending down 6. This will be paid by the middle of December next year, rather than November as originally planned. Elliott is set to remain as chairman, while Dobbie — who was succeeded as chief executive by Phil Gripton a year ago — will retain his non-executive position on the board.
Shareholders are due to meet on 23 December to vote on the deal. If approved, Cupid plans to change its name to Castle Street Investments and will be left with about seven UK-based staff following its switch to a cash shell. Dobbie last month officially launched his latest venture, a crowdfunding platform called LendingCrowd, that he has set up with Stuart Lunn, a former equities analyst at Cenkos and Collins Stewart. News you can trust since Sign in Edit Account Sign Out.
Cupid has plans to sell its online dating business and become a cash shell. Picture: Contributed. Sign up.
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Cupid Media is an online dating company that operates 35 niche dating websites based on religion, ethnicity, lifestyle and special interests. The network of sites are available in multiple languages and since its founding in , over 35 million singles have registered across the company’s sites. It was renamed Cupid Media in August
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FORMER technology darling Cupid slumped in value yesterday after unveiling plans to sell its dating websites for £3 million.
Reuters – British online dating company Cupid Plc said it sold its benaughty. Polyakov, a co-founder of Cupid, continues to hold a 15 percent stake in the online dating company. Cupid shares were up 14 percent at The company also signed a software licensing agreement with Grendall that it said would generate 2 million pounds of revenue over four years. The casual assets generated total sales of about Cupid posted revenue of Patrick Yau, an analyst with Peel Hunt, said the company would now be able to focus more customer experience on its mainstream dating sites and make acquisitions.
Cupid, which faced media allegations earlier this year about the methods it used to encourage people to buy subscriptions, said earlier this month that an independent review of its operations did not find any evidence of the company using fake profiles to boost its membership. Last month, Cupid said a number of potential suitors have expressed interest in its casual dating sites and a media report said Max Polyako was on the verge of bidding 40 million pounds for them.
The company offers several online dating services depending on whether users are seeking serious relationships or something more casual. It markets to people of different age groups, cultures and social interests, from its mature relationship website loveagain.
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Cupid Media is a leading online technology company that operates 32 specialized niche dating sites.
Cupid plc was the owner and operator of multiple high-volume online dating websites, covering the range from mainstream to niche audiences. The full network of websites is available worldwide in a variety of languages, and by the end of the first half of more than 54 million users had created profiles in the company’s websites. Founded in by Bill Dobbie and Max Polyakov, the company was originally made up of a range of dating websites operated from and off-shore base. In , Polyakov and Dobbie acquired the EasyDate business and brand to complement and serve as an umbrella for their network of sites, which had been experiencing a steady growth in user base.
Dating is one of the industries transformed by the internet, but that doesn’t explain why Cupid sold a potentially lucrative part of its business.
After a high-profile AIM listing in , the online dating specialist Cupid has become a shell of its former self. Simon Neville reports on what went wrong. But rather than attempt to rebuild and recover from the decline in its fortunes, the bosses at Cupid have decided to call it a day and have sold the last of its dating businesses, including cupid.
Now, with no dating businesses left, Cupid plc becomes another shell investment company, plotting its next move. All of this sent the shares tanking It listed on the stock market only four years ago. And can a publicly traded company simply abandon its entire business proposition without repercussions? First off, it is worth noting that the online dating sector appears to have changed beyond recognition, mainly thanks to apps such as Grindr and more recently Tinder. With these, users can quickly swipe through profiles of potential partners and be matched up instantly, no longer having to trawl through lengthy profiles like an HR director looking for a new recruit.
To give a sense of that scale, Tinder has about 10 million users making 15 million matches a day, and was launched just two years ago. He also bought the final chunk of the company yesterday, through a web of companies all based on the infamous Caribbean tax haven. So essentially, Mr Poltakov helped launch Cupid as a listed company; watched the share price soar; quit from the company in and later sold his stake; then snapped up a good part of the business.
There is nothing in the AIM rules that stops any of this from happening.