Motley Fool mentions the little disclosure that MatchNet’s co-chairmen received 265% bonus increases in 2003, giving each a $1.4 million payout. Since 1999, MatchNet’s sales have grown 460% to $36.9 million, mirroring the upward trajectory of online dating. Last year, its net revenues increased 125%, with a 61% increase in “active members” and a 138% boost in paying subscribers. The company’s swelling expenses are largely a result of increased marketing costs — up 233% last year — because of competition. Partial justification for the IPO was to fund additional marketing and advertising.
More at the Fool.
From 2002-2019, David Evans helped entrepreneurs, investors, and the media, make sense of the online dating industry.
@datinginsider
