Cupid See Losses Increase, Consider ‘All Options’ For The Future


Cupid’s losses have widened in 2014, as they consider all options for the future.

The Edinburgh-based company reported a loss of £3m for the first half of the year, compared to £2.8m in 2013.

Revenues from continuing operations fell by over half to £7.2m.

They plan to start “arresting the company’s cash burn”, which may involve selling more of their sites.

Chairman George Elliott said:

“At this stage, all options available to the company are being considered including further cost reductions and the disposal of certain subsidiaries or assets. However, there can be no certainty that any offers will be made, any sales concluded, nor as to the terms of any offer or sale.”

Cupid are going to launch an app called Tangle next month, which like French app Happn and Snap Interactive’s Mutually, connects people who physically cross one another.

Elliott said: “The rate of change in the dating market is accelerating as applications like Tinder build significant value, gaining share and putting pressure on traditional models.”