PR NEWSWIRE - Chelsea Grayson, CEO of Spark Networks, said: "Our two highest priorities remain returning to revenue growth and improving profitability." The Company believes it can achieve significant efficiencies by both reducing costs and growing revenue through the following changes:
- Exit Germany: Spark Networks aims to shut down its Berlin branch by Jan 2024. This includes cutting around 200 full-time jobs.
- Improve Product & User Experience: Spark Networks plans to outsource its IT services to a third-party
- Hire a Chief Revenue Officer to join its senior leadership team.
- Substantially Improve Marketing Yield and Process
First Quarter 2023 Financial Results Q1 revenue was $41.3M, compared to $49.9M in the Q1 '22. Net loss was $4.4M, compared to $7.5M in Q1 '22.
See full article at Spark Networks website