August 2, 2019
Spark Networks SE became the second largest dating company in North America Friday after closing its deal to acquire Zoosk.
Jeronimo Folgueira, CEO of Spark Networks, told Cheddar that Zoosk will be the largest brand in his company's portfolio.
"Zoosk was one of the few assets left in the North American market that we could acquire to give us meaningful scale," Folgueira said. "So, with the acquisition of Zoosk we became now almost three times bigger than we used to be. So, that unlocked all the potential being really large in this market."
While the numbers vary, Folgueira said almost two million users sign up per week across all of its platforms. Six of the company's brands are focused on specific religions, with Christian Mingle among its biggest brands.
But Zoosk is less of a niche platform, with Folgueira calling it "mass market."
"It's a brand that basically can be something for everyone and captures a lot more people," Folgueira said.
Folgueira told Cheddar there's significant growth in both the older and younger demographics. As older people start using online dating more than they did in the past, Silver Singles is seeing big success.
Meanwhile, younger singles may be transitioning from other apps.
"Tinder really opened up an entire generation to online dating, and dating apps, that was not doing dating before," Folgueira said. "With the rise of Tinder, now the younger people are also using a lot of dating apps, and people now are looking for more high quality experiences and that's where usually we come in."