Wednesday, October 12, 2005

Wed - Europe's leading online dating agency to IPO

Meetic, the online dating agency is due to IPO in Paris tomorrrow. The company was founded four years ago and has fast become Europe's largest online dating agency with 24% of the market.

Looks like the heady days of the dotcom bubble may be returning as Meetic is being given a valuation approaching $350M and they hope to raise between $90M and $120M selling just over a third of their capital.

They plan to spend the proceeds on acquisitions in the twelve countries that they operate in. Their price looks high at around 13 times sales, but, hey, they've made a huge amount of progress in 4 years and lets face it online dating has got to be a hot sector going forwards.

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