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Before offering their targeted amount, which was substantial to say the least, the firm had revenues of 8.2 million, a 63% increase over the previous year, in 2013 and had extremely impressive statistics that showed how much potential they held in an extremely competitive market that is dominated by the industry leaders and fuelled by consistent innovation; 27 million members, of which 650,000 were paying subscribers and had a growth rate of 44% year-over-year when it came to their membership.
Eventually, such was their market that ruled the roost and became the top grossing application on the Apple i OS store.
A major chunk of this was down to the startup philosophy that profits do not matter; a theory which makes it extremely difficult to survive in the long-run as a firm will not succeed if does not make money.
Zoosk lay off staff to cut costs and implemented a paid membership deal.With apps like Tinder in the market, one would expect that others would stay well away from this circuit, but Zoosk has been carving a niche for itself since 2007 when it’s two co-founders Shayan Zadeh and Alex Mehr launched the company in December of that year, whilst initially studying in the Sharif University of Technology in Iran and later the duo continued to study together in the US at the University of Maryland.Zadeh worked with tech giant Microsoft after graduating with a master’s degree while his friend did the same at NASA, but both later turned their sole focus onto Zoosk, which started growing by then.Meet thousands of local London singles, as the worlds largest dating site we make dating in London easy!