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First off, it is worth noting that the online dating sector appears to have changed beyond recognition, mainly thanks to apps such as Grindr and more recently Tinder.
Cupid, however, fell quickly behind and by last year the wheels were starting to come off, as it hit a pre-tax loss of £7.4m followed by a £2.8m first-half loss in June.
It said: “Through the course of the first half of 2014 it became clear that the pace of change in the industry was increasing; innovation with mobile and intuitive apps is accelerating as they gather momentum and scale.”To give a sense of that scale, Tinder has about 10 million users making 15 million matches a day, and was launched just two years ago.
The dating industry, like pornography before it, is feeling the full force of online consumerism and is realising that customers no longer want to pay extra for so-called “premium” content.
One company which has crashed to Earth faster than a speeding love arrow is the AIM-listed, Edinburgh-based Cupid.
Shareholders’ best hopes will be that a well-funded investment vehicle is waiting to get a place on the junior stock market AIM without going through the hassle of an IPO.