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Lavalife turns romance into money

Chris

Well-Known TRIBEr
Lavalife turns romance into money
Last Updated Thu, 04 Mar 2004 11:35:24
TORONTO - Online dating service Lavalife has found happiness in the arms of a U.S. suitor, MemberWorks Inc. of Stamford, Conn.

MemberWorks said Thursday that it will buy Toronto-based Lavalife for $152.5 million cash.

The U.S. company offers its 6.3 million retail members services and discounts on health care, personal finance, insurance, travel, entertainment, computing, fashion and personal security.

MemberWorks, which reported revenue of $237 million US for the six months ended Dec. 31, bought Lavalife to get into "the large and rapidly growing personals channel," president and CEO Gary Johnson said in a statement.

"Lavalife provides several key elements in extending our business online: a proven business model, expanded demographics, unique and expanding services, key strategic partnerships, and a solid track record," he said.

Lavalife had revenue of $102.6 million and operating profit of $17.4 million in the year ended Sept. 30, 2003.

More than 700,000 singles, mainly in the U.S., Canada, and Australia, use Lavalife "to spontaneously communicate and search for a date, meet new people, and more actively manage their social lives," MemberWorks said.

On Thursday morning, Lavalife's website said "there are 16,839 singles on Lavalife right now! What are you waiting for?"

Lavalife CEO Bruce Croxon said the deal "will allow us to accelerate our top line growth, leverage our business model and leading brand with MemberWorks capital, management expertise, and synergies."

Lavalife senior management will buy $11.9 million of MemberWork's restricted common stock on closing. MemberWorks shares trade on the NASDAQ.


Written by CBC News Online staff
 
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Dr Funk MD

TRIBE Promoter
Originally posted by kat
i catch sooo many people at my work using this

*clickclickclick*
I have two friends who hooked up with boyfriend via LL.

They keep telling me that I need to sign up and try it. Gag me with a wooden spoon.
 

coleridge

TRIBE Member
I know a few people using LL.

"Matt I'm dating three girls right now and I have another three waiting in the wings"

and this is a guy who rarely used to date at all.
 

Libradragon

TRIBE Promoter
Lavalife, as a company, treats their employees REALLY well too. Sounds like MemberWorks do the same for theirs. I hope, anyway.
 
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kuba

TRIBE Member
Let me ask:

Internet dating.

Why is it so taboo?

Im going to pose this here, and then in a new thread.
 

Libradragon

TRIBE Promoter
Originally posted by qtip
Let me ask:

Internet dating.

Why is it so taboo?

Im going to pose this here, and then in a new thread.

i don't think its as taboo as it used to be. the reason people won't readily admit that they have Lavalife accounts could be their fear of being labeled "desperate, pathetic, etc". In the same sense that when people ask me how i met gizmo or chrome, i wouldn't readily say "the internet and tribe".
 

zoo

TRIBE Member
one of my buddies is a social recluse with a very small social circle

he's managed to pick up quite a few girls on lavalife and long-term* date them

*long term = over 2 months




when i saw the girls he was hooking up with [hot girls] i was really, really impressed by lavalife

and i know he wasn't lying because he was in most of the pics as well
 

newstyle666

TRIBE Member
Internet dating is the lamest thing in the world.

Its where ugly desperate guys go to meet ugly desperate women.

Not once have i seen a girl from that site that looked down to earth, attractive/cute, interesting or cool. I've seen skanky women and arrogant wannabe men to date those skanky bitches. The site earns money because those two types of people are perfect for each other.

-graham
 
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Libradragon

TRIBE Promoter
i have single girlfriends who found their experience on lavalife highly entertaining, and quite useful. Yes there are lots of jokers around but if you're careful about the people you meet on dates, it can actually work.

Imo, not that different from my experience being on Tribe. You meet all kinds.
 

Astroboy

TRIBE Member
you said it Noams.

It can't be any different than tribe, except there is a stigma attached because you have to pay for it.

So many people on this board have hooked up, and had sex, or whatever with each other. you are fooling yourself if you don't think that some are here for the same reasons that you frown upon Lavalife users for.
 

JayIsBored

TRIBE Member
Originally posted by Dr Funk MD
People on this board sleep with other people on the board? Why isn't that listed under the FAQ?

it is, under the question Why is my crotchial region red and itchy?
 

defazman

TRIBE Member
Funny, I've turned money into romance on a few occasions. I didnt know it could work the other way.
 
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Robb G

TRIBE Promoter
I've been a proud LL employee for the last year but next Thursday is my last shift here.

The timing couldn't be better.

I was happy to be working for a sucessfull 100% Canadian owned and operated company that was bringing in millions of dollars per year from US customers back to Canada. (Some balance to the usual flow of all the multi-nationals and franchises that are based in the US).

Robb
 
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