Dating Service Zoosk Lays Off 15% Of Staff, Company Confirms | Techcrunch

According to a spokesperson, the move was made as part of a larger effort to lower expenses in many areas. News of thelayoffs follows theexit ofZoosks founders from their leadership roles last month, and confirmation that the company was indefinitely delayingits IPO plans. Theheadcountmentioned on ZoosksSEC filing referenced 168 employees, but figures cited in 2014 saw that number had grown to 174. (Zoosk has yet to provide us with itscurrent headcount, though weve asked.) In April 2014, Zoosk filed plans with the SEC for its $100 million initial public offering. The company, backed byCanaan Partners, Bessemer Venture Partners and ATA Ventures, at the time was seeinga net loss of $2.6 million in 2013 on revenues of $178 million. In addition, the filing revealed that the company was spending a lot on marketing and saw Tinder as a real threat to its business. Data provided to us in September 2014 from analytics platform 7Park showed just how credible the Tinder threat was (and still is): Zoosk claims to have 29 million members, and competes with sites like eHarmony and Match.com. It has a significant presence on mobile, but Tinder has been running away with much of the market there, as you can online dating see.
Full story: http://techcrunch.com/2015/01/15/dating-service-zoosk-lays-off-15-of-staff-company-confirms/?ncid=rss

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