The rosy glow didn’t last, after all.
Cupid’s love affair with internet dating is over, and it’s time to change its name.
The online matchmaking company said it is selling Cupid.com, Lovebeginsat.com and Uniformdating.com to a network of firms chaired by its Ukrainian co-founder, the Financial Times reported.
The Edinburgh-based firm’s shares fell 26 per cent after it said it is selling the dating websites for £3 million (US$4.69 million) to Tradax and Together Networks, which own BeNaughty.com, loveaholics.com and spicychats.com and are in turn owned by Noosphere.
Noosphere’s chairman is Max Polyakov, who co-founded Cupid in 2005 with Scottish entrepreneur Bill Dobbie.
Cupid will change its name to Castle Street Investments. It has not been profitable since 2012, and the number of subscribers has fallen rapidly.
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