BUSINESS WIRE - Sep 30 - We have closed our largest acquisition (Zoosk) to date which has accelerated our expansion in North America. Shares of Spark have lost more than a third of their value thus far in 2019 and over 50% since the deal closed on July 1, 2019. The losses are largely the result of concentrated share sales by a minority of our shareholder base and not the result of financial or operational under-performance. Since the close of the Zoosk transaction, ~5M Spark shares have traded, representing 20% of our total shares outstanding. Spark Networks is active in the market of serious relationships. Through the acquisitions of Jdate, JSwipe, and Christian Mingle, Attractive World in France, and Zoosk, the company has quadrupled its revenue from €60M in 2015 to €250M on a pro forma basis in 2018.
Our strategy:
- Phase 1: Reach critical scale to unlock profitability potential
- Phase 2: Consolidate the serious dating segment and build a profitable core
- Phase 3: New Growth Initiatives
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