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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.The investigations by BBC and Kyivpost caused a sharp decline in the share prices.In Summer 2013, the company sold part of its 'casual dating business' to Grendall Investment Limited, controlled by co-founder and shareholder of Cupid plc Max Polyakov.A year later, in May 2011, the company boasted 23 million members in 39 countries.This success, and the desire to fund further growth, prompted the company to become listed in the Alternative Investment Market of the London Stock Exchange (AIM).Because of this, it was under that name that it became initially listed in the markets (as Easy Date plc).However, in December 2010, as a result of pressure from easy Group founder Sir Stelios Haji-Ioannou, the company changed its name.
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.
Some of Cupid's main sites are: The business model varies slightly depending on the website.
In most cases, users can join for free – this gives them access to the website and allows them to browse the profiles of other users.
Users told the BBC that they had received many messages from potential dates as free users of the site but that, when they paid for membership to be able to reply, the volume of messages dramatically decreased.
Investigation by Ukrainian newspaper Kyivpost in March 2013 proved usage of fake profiles by the company and confirmed that the company's 'social media managers', whose job was to tempt users, were actually located in Ukraine.