Completely online dating reviews
There are about 4,500 online dating companies, according to a report by the market research company IBISWorld, but the majority are tiny.
The largest player in the field is the Match Group, with 51 dating sites; over the last few years alone it acquired such high-profile companies as Tinder and Plenty of Fish.“It’s never been cheaper to start a dating site and never been more expensive to grow one,” said Mark Brooks, a consultant for the internet dating industry who also runs Online Personals Watch.
But Brad Goldberg, president of Peak6 and Spark’s new board director as of August, said that through modernizing the company’s technology and focusing on how to effectively market its two best known sites — JDate and Christian Mingle — the company will adapt and “take advantage of the changing industry landscape.”JDate was created in 1997 in a West Los Angeles condominium; Christian Mingle was added in 2001.
Spark Networks (which trades under the ticker symbol LOV) eventually grew to about 30 dating sites, but the crown jewel has always been JDate. Goldberg estimates that 70 percent of the Jews of dating age in the United States have had some contact with JDate or JSwipe, with about one million registered users.“We’re unambiguously touching a greater percentage of the Jewish population than ever before,” he said.
On less frequent occasions, the roles were reversed.
Spark Network’s revenues fell nearly 22 percent from 2014 to 2015.
Some of the decline could reflect Spark’s management turnover, but it is also indicative of the challenges facing the online dating industry.
It was also involved in an ugly legal fight over the letter J in JSwipe, and its share price recently dropped to under a dollar from a high of .92 in May 2013.
In August, Spark sold 16 percent of its stock to the investment firm Peak6, laid off workers and closed its Israel office.