MatchNet

by David Evans on August 5, 2004 in Dating Industry Finance

Online dating provider MatchNet filed with the US Securities and Exchange Commission for an initial public offering of as much as $100m in common stock. The company, which operates Internet dating sites such as AmericanSingles.com, MatchNet.co.uk and JDate.com, did not say how many shares it plans to offer, or determine a share price, as those details are usually disclosed later. MatchNet, whose global depositary shares are traded on the Frankfurt Stock Exchange, said it is seeking a Nasdaq listing but did not propose a symbol. The company filed a preliminary offering document with the SEC with details about the company and its operations, including financial data, which shows its net revenues jumped to $30.9m in the first two quarters from $15.5m the year before. It posted a net loss of $7.1m in the first two quarters in 2003, compared with a net loss of $1.3m in the same period in 2003, according to the document. As of 30 June, it had about 9.8 million active members, who have posted a personal profile or who have logged at least once in the last year.

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