MARKETWIRED - June 8 - It is the latest app launched by Spark Networks has been helping millennial Christians meet, date and relate since first launching on the Apple iOS platform in the fall of 2015. Crosspaths uses patented mutual matching technology which only connects two people when they're both interested, allowing them to get to know each other and then meet when they're ready to take that next step using Facebook to verify each and every member's profile so that people can make real connections with actual people on the app.
MARKETWIRED - Mar 3 - Q4 '15 revenue was $10.7M, a YOY decrease of 25%, primarily driven by a decrease in average paying subscribers. Q4 '15 adjusted EBITDA was $116K, a decrease from $4.1M in the year ago period and $309K in the prior quarter. For the full year 2015, total revenue was $48.1M, a YOY decrease of 22%. In 2015 Spark Networks strenghtened mobile portfolio and extended reach into millennial demo through acquisition of JSwipe for $6M and launch of dating app CrossPaths.
OPW - Feb 5 - Last year was a turnaround for Spark Networks. Four directors were voted out and new board came in. Michael Egan joined in as CEO in December 2014 from Internet Brands. Since the company had no proper mobile product, a lot of effort in 2015 was put into building a mobile dating app. They launched dating app Spark, which was an experiment, and later Crosspaths, a Tinder-like dating app within the Christian community, that has now ~20K monthly active users in LA.
Michael Egan also talked about JSwipe acquisition. Last summer Spark Networks sued Jewish dating app JSwipe but soon realized that JSwipe user base was very complementary to jDate (90% of JSwipe users are under 30, jDate users are 35+), and decided to buy it instead for $7M.
