Spark Networks SE (LOV) experienced an incline of 7.29% in the aftermarket. However, the last trading session closed at $2.88 with a decrease of 6.8%.
MKR Investor Relations
On 27th September 2021, LOV announced that MKR Investor Relations, Inc. has been hired to help with the company’s investor relations program. Moreover, it will also support efforts to increase awareness among institutional investors in the United States. MKR was founded in 1999. It works with micro-cap and small-cap technology firms to develop and implement proactive, strategic investor communications programs. These programs boost long-term shareholder value. Moreover, the capital markets veterans and senior communications professionals make up MKR’s team. Lastly, they also contribute in-depth industry knowledge and long-standing contacts with institutional investors and research analysts.
Appointment of Colleen Brown by LOV
LOV stated on 23rd August 2021 that Colleen Brown will be the company’s new non-executive chair of the Board of Directors. The company is very happy to appoint Colleen as board chair. Her considerable expertise as a corporate director and solid track record as a media and technology CEO will assist drive development and shareholder value generation. Besides, Brown is also looking forward to working with the board of directors and their strong leadership team to accelerate our development plan, form new alliances, and create tremendous value for the shareholders.
LOV announced Second Quarter 2021 Results
LOV announced second-quarter 2021 results on 16th August 2021. The second quarter of 2021 brought in $55.3 million, down $1.2 million from the second quarter of 2020. However, the drop in revenue was caused by a 3.0% drop in typical paying subscribers. The second quarter of 2021 saw a $50.4 million net loss. However, a non-cash impairment charge resulting from the revaluation of firm intangibles and goodwill had an influence on the net loss. Moreover, the Adjusted EBITDA was $8.3 million, down $1.8 million from the second quarter of 2020, when it was $10.1 million.
With the debut of the live streaming service, the company entered the social discovery market. LOV enhanced dater’s experiences with fresh aesthetics and greater security to the key brands, and more affordable pricing for Zoosk members. Furthermore, LOV is concentrating on forming partnerships to provide new and interesting things to the locations. Last but not least, the company has continued to minimize the Zoosk’s slide to its lowest levels since purchasing it.
Monetization of Zoosk Live!
LOV reported on 7th July 2021 that Zoosk Live!, a live streaming service offered through a collaboration with ParshipMeet Group, has started to generate income for the firm. Zoosk Live! is the result of Spark utilizing ParshipMeet Group’s Live Video Platform as a Service (vPaaS) solution, which monetizes user videos and powers some of the world’s leading live streaming video dating applications.
Moreover, the site provides a variety of live streaming alternatives, such as challenges, events, and interactive features like NextDateTM. It is a speed dating game in which Zoosk users may star in front of a live streaming audience. Spark Networks’ first foray into the nascent social discovery market is Zoosk Live!
