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Rafat Ali at Paid Content says that Great Hill Partners, the Boston-based PE firm which bought IGN in 2003, and then made a killing selling it to Fox, has bought a 20 percent stake in online dating network company Spark Networks (operator of JDate.com, among others).
Great Hills Partners has 1.2 billion under management. They purchased 6,000,000 shares, representing a 19.8 percent stake in the company.
As previously mentioned, Joe Shapira, one of the company’s founders and executive chairman of the company’s Board of Directors, has decided to resign from his operating role with Spark Networks.
I’ve got a call into Great Hill for more information, turns out their offices are right down the street from me.
[tags: great+hills+partners, spark+networks]
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