SEEKING ALPHA - Feb 9 - Despite a portfolio of leading niche dating sites (ChristianMingle, jDate, JSwipe), Spark Networks struggles to sustain profitability and retain paid subscribers. PEAK6 is the second investor in 3 years to take over and attempt a successful turnaround. PEAK6 brought along strong expertise in both finance and technology. Spark Networks is currently worth ~$2 a share. Given that most of the large shareholders bought in at prices close to the valuation estimate, they are less likely to accept a bid at that price. Rumors of an acquisition of Spark by Match Group have again been in the headlines. But Match could just as easily start up their own versions of ChristianMingle and jDate. Even if Match "swipes right" on Spark, Spark shareholders may "swipe left" on their offer. If Match offered the estimated value of $2 a share for the company, existing shareholders may rebuff the offer, as they purchased their shares at either around that price or at even higher prices. PEAK6 bought in at $1.55 a share, and hold warrants that vest at the $2.50 and $3.50 price levels. They are most likely interested in bringing up the company's value back into this range before considering a sale. We will have to wait for next quarter's earnings to see if new management is able to grow the paid subscription base (or at least minimize revenue declines). This turnaround cannot be completed in a single quarter, but the next quarter should give investors a clearer picture whether or not Spark is moving in the right direction.