Spark Networks Slides Right For Dating Company SF Zoosk – Crunchbase News

From acquisitions like Christian Mingle, JSwipe and Jdate, based in Berlin Spark Networks SE swept right yesterday for a new dating company: Zoosk.

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Spark Networks plans to acquire San Francisco-based company Zoosk, which makes it “Second largest online dating platform in North America. ” The acquisition, when completed, will double Spark’s total monthly paying subscribers to 1 million people, the company said.

At the time of the announcement, Spark Networks assessed the transaction with Zoosk to about $ 255 million, including stocks and cash.

Zoosk, who has quite the Twitter account, is currently available in 80 countries and 25 languages. The company, which touts its behavioral matching technology, has acquired Woo me, another San Francisco dating startup, in 2011 (TechCrunch covered the case here).

Unlike previous “targeted” acquisitions of Spark Networks, this acquisition will mark its first company that has mass market appeal, he said on a conference call Friday morning. Spark Networks hopes Zoost will help them grow in America.

In connection with the acquisition of the CEO of Zoosk Steven mcarthur will be appointed to Spark’s board of directors.

Last month our Joanna glasner written about how dating startups around the world are struggling to attract venture capital. In 2018, venture capitalists invested $ 127 million globally in 27 startups that Crunchbase describes as “dating-driven.” It is small compared to $ 300 billion in global venture capital investments in all sectors, last year.

In that same report, Zoosk stood out because of its large capital base. The company has raised $ 61.1 million in funding, according to his Crunchbase profile. Compared to venture capital funding from other American dating startups like Coffee Meets Bagel ($ 31 million) or The League ($ 2.3 million), it’s impressive. Naturally, we wondered why Zoosk hadn’t generated an output yet. A little over a month later, we’re back and Zoosk is handcuffed.

Drawing: Li-Anne Dias.

Keep up to date with the latest rounds of fundraising, acquisitions and more with Crunchbase Daily.

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