TORONTO STAR -- Jan 16 -- Lavalife facilitates the exchange of 1.3 million messages a day. It was sold in 2004 to Vertrue Inc, a marketing services company that deals in consumer-based membership and loyalty programs, for $175 million. In the mid-1980s, five ambitious guys - Ed Lum, Nick Paine, Dave Shamandy, Rasool Verjee and Bruce Croxon (Lavalife's CEO), figured out how to leverage new interactive voice technologies. None of them were computer science geeks. Croxon has a BA in economics, Paine a degree in business administration, and Verjee a law degree from Cambridge University in England. In 1987 they took the plunge and the business grew, expanding into 30 regional offices across North America. In 1996, the four partners bought a small online company, webpersonals (which became lavalife in 2001), for about $300,000 spread over two years. (The liquid motion lava lamp was invented in the mid-60s by Craven Walker, who reportedly said, "People who don't like lava lamps are afraid of sex.") There is no fear of sex at Lavalife - indeed, the business is all about facilitating sexual possibilities: for long-term, dating, or intimate encounters. The vast majority of all age groups sign up for relationships or dating. Bruce Croxon's professional goal is to "stay relevant to younger people" and expand the company's services, particularly in "the mobile space." The majority are 25-39. The fastest growing segment is 19-25's. Voice mail is becoming popular again, providing over 50% of Lavalife's revenue. "Women love the voice. Men love the visual." FULL ARTICLE @ THE TORONTO STAR
Mark Brooks: Bruce bought Webpersonals from Stanford Phd Andrew Conru in 1994. Conru then went on to start Friendfinder in 1996.
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