Interim results from Cupid (CUP) were predictably disastrous and show why it had to see its dodgy Ukrainian dating businesses. In part that was because, despite the KPMG whitewash they were clearly engaged in unethical practises. But Cupid also needed the cash.
What remains are some fairly dull UK websites where customers are leaving on drives and not coming back. I sense that the model that works for dating now is free to access and advertising based. Subscription websites like those of Cupid are a busted model. Hence ales from the ongoing operations slumped from £9.4 million to £7.2 million in the half calendar year. The company may witter on about new site launches but that’s a Victor Meldrew for me…I just don’t believe it.
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