While attending the University of Maryland, Iranian immigrants, Shayan Zadeh and Alex Mehr wished that they had an easier way of meeting women.
Zoosk was founded in 2007. The company operates an online dating service.
In 2014, the company decided to go public. In their S-1 statement, the company reported 2013 revenues of $178.2 million, a 63% increase over the previous year, and that it had cut losses 87% to $2.6 million.
It had 27 million members, of which 650,000 were paying subscribers, and its membership was growing 44% year-over-year. Zoosk had reached the position of no. 1 grossing dating app and a top 25 grossing app on the Apple IOS App Store.
Despite over $200 million in revenue, Zoosk lost money due to over-hiring. Zoosk canceled its IPO in December 2014 and laid off 20 percent of its staff.
In late 2014, Zoosk introduced a photo verification system. Clients must upload both a photo and a live video. Employees review the video to ensure that it matches the photo so clients know that they aren’t being catfished.
In July 2019, Sparks Network acquired Zoosk for an undisclosed amount.
In late 2021, Zoosk introduced virtual first dates, where potential matches can meet online first.
Zoosk maintains a corporate office in San Francisco, California.
While attending the University of Maryland, Iranian immigrants, Shayan Zadeh and Alex Mehr wished that they had an easier way of meeting women.
Zoosk was founded in 2007. The company operates an online dating service.
In 2014, the company decided to go public. In their S-1 statement, the company reported 2013 revenues of $178.2 million, a 63% increase over the previous year, and that it had cut losses 87% to $2.6 million.
History
It had 27 million members, of which 650,000 were paying subscribers, and its membership was growing 44% year-over-year. Zoosk had reached the position of no. 1 grossing dating app and a top 25 grossing app on the Apple IOS App Store.
Despite over $200 million in revenue, Zoosk lost money due to over-hiring. Zoosk canceled its IPO in December 2014 and laid off 20 percent of its staff.
In late 2014, Zoosk introduced a photo verification system. Clients must upload both a photo and a live video. Employees review the video to ensure that it matches the photo so clients know that they aren’t being catfished.
In July 2019, Sparks Network acquired Zoosk for an undisclosed amount.
In late 2021, Zoosk introduced virtual first dates, where potential matches can meet online first.
Zoosk maintains a corporate office in San Francisco, California.