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Upon admission, the company had an approximate market capitalisation of £45 million.The fresh capital brought about by the listing enabled the company to perform some strategic acquisitions in markets where it had detected potential, like France, Germany, the US, and Brazil.Cupid plc was the owner and operator of multiple high-volume online dating websites, covering the range from mainstream to niche audiences.The full network of websites is available worldwide in a variety of languages, and by the end of the first half of 2012 more than 54 million users had created profiles in the company's websites.Cupid makes most of their business through the charging of these fees, as there is no advertising on their websites.In addition to this, Cupid also partners with other companies in order to provide a branded, specifically targeted online dating experience.For example, in December 2010, the company announced a product in conjunction with Whats On (a theatre review and ticket sales website).The result of this collaboration was Theatre Date.com, a niche site aimed at theatre lovers which combined Cupid's expertise in delivering a solid online dating service with Whats On Stage.com's experience catering to theatre enthusiasts and the general theatre going public.
Cupid's business can be split into two main areas: mainstream dating websites, aimed at the general public with some level of differentiation between them (for example, is aimed at people looking for a steady partner in a more long-term relationship, whereas Be is geared towards users looking for more casual dating); and niche websites, where the whole concept fundamentally hinges on the users looking for partners of a similar background and tastes.
Once they are ready to begin interacting with someone, the website charges depending on the level of access the user wants.
This is a fairly common practice across the industry.
The company stated that its auditors KPMG had found 'no evidence of a company organised practice of staff enticing registered members to subscribe through the use of fake profiles'.
Nevertheless, Cupid recognized that existing staff profiles 'were not clearly identifiable' to users and said it had replaced the motivation teams with dating advisors.