FINANCIAL TIMES - July 6 - Cupid, the online dating company, plans to expand its presence in the US, where it hopes to target niche markets such as Christians, ethnic minorities and older singles. Cupid, which operates sites including benaughty.com and girlsdateforfree.com, said it planned to invest an initial £1m in setting up an office on the US West Coast next year. Cupid focuses onniche markets such as expat Indian dating and single parents. Cupid said revenues for the last six months in its new markets – USA, Canada, France, Italy, Spain and Germany – were expected to reach £22M, more than double the £10M achieved in the first half of 2011. Revenues from established markets such as the UK and Australia should grow at or above the rate of 5 to 10%.
by Christopher Thompson
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