Cupid expands its reach with acquisition

UK online dating company Cupid has acquired for £125,000 in an effort to reach new markets.

The acquisition by the Edinburgh-based business, which joined AIM last June, is part of an overseas growth strategy launched in 2009 that targets all English-speaking territories outside the UK.

Offering both mainstream online dating and matchmaking services, Cupid will merge, which is focused on the Indian community in North America, into its operations this year. The sites being purchased have about 600,000 members.

Cupid chief executive Bill Dobbie says the brand offers ‘significant potential’ for expansion as the business prepares to launch in mainland Europe and Brazil next year.

Dobbie comments, ‘As a niche site, the domain fits in very well with our existing portfolio and the acquisition represents our increasing presence in the North American market and growing international focus.’

Cupid, previously known as Easydate prior to its acquisition of US company for $6.6 million last September, owns niche dating sites including casual relations site, general dating site and a number of niche outfits including, and ‘femme’ lesbian site

Cupid last month announced profits would be slightly ahead of expectations. For the year to December 2010 analysts at previous broker Cenkos forecast pre-tax profits of £5.3 million on turnover of £24.9 million.

Todd Cardy

Todd Cardy

Todd was Editor of between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital.

Related Topics

Early Stage Funding