Cupid Share Discussion Threads

[robotface] 27/7/2013 23:13

To point out to the FT, the share price fell from approx 200p in the preceeding month or so, making the drop even greater.

[daofs] 27/7/2013 22:57

Journalists don't normally sue for libel but I think they would have a legitimate claim against posters here accusing them of taking backhanders and committing fraud. In fact I think they should be told

[j777j] 27/7/2013 20:46

I would imagine they have had many months of excellent legal advice to mitigate any such nonsense.I wonder how may of the shorts have fully read the terms and conditions for joining any of the dating sites.You can be sure the company have covered their backsides.Furthermore they have sold two thirds of the business to a BVI owned company,for £43 million.


I am more interested in who is paying the journalists?The ones that knowingly committed fraud by creating fake profiles.


I am happy to buy the remaining businesses for £5 million and am sure Toscafund and the management will make a similar judgement.

[lennonsalive] 27/7/2013 19:17

Lot's of money to return to clients for refunds for the fake profiles, to lure punters to join.

[j777j] 27/7/2013 13:31

Current market cap £49 million
Last reported £10 million cash
£9 million of shares held in treasury
£5 million cash down payment for sale of casual
£29 million cash,being balance due over 40 months.


Even ignoring the treasury held shares,the remaining businesses are valued at just £5 million,they should produce revenues this year of somewhere between £35 and £40 million.That is £725,000 cash coming in every month.

Lol


plmval
26 Jul'13 - 20:36 - 3325 of 3326 0 0

That is hardly new news ... see article below


btw did Ennismore pay for the BBC journalist's travel or other expenses????

As some other poster mentioned,this programme was clearly made a while back and is not telling us anything new.


FT.com Cupid news 22/7/13

Break-up leaves Cupid seeking fresh start

Breaking up can be easier than you think, as investors in Cupid have found. Shareholders of the Edinburgh-based company have watched a part of the business run off with another man – taking two-thirds of its revenues and just over half its earnings before interest, tax, depreciation and amortisation with it.

The "other man" was not your textbook milkman or personal trainer. It was Cupid co-founder and former chief operating officer Max Polyakov, who bashed out a deal worth £45.1m for the "casual dating" side of the business – a genre that includes the online adverts promising instant gratification in your area.

The initial announcement that Cupid was in discussions with "third parties" came out at the same time as a whopping profits warning, to the alarm of some market watchers. That one of the third parties then turned out to be someone who set up Cupid in 2005, and still owned a 15 per cent stake in it, stirred them up more.

None of this is against the rules. If Cupid had entered into discussions about a sale, it had to tell the market, even if that coincided with a profit warning. The disposal is not the first time that Cupid has been in the limelight in recent months. Its shares dropped by two-thirds from 114p to 49p in March after the company denied that it was duping lonely customers by teasing them with messages from pretty young things and promising more if they signed up.

An independent report from KPMG exonerated the group, but the share price continues to hover around 75p. Cupid says that the deal means it has left the sleazy "casual dating" end of the market. The slimmed down business has a chance to improve its reputation. It needs to, otherwise investors will decide to break their own relationship with the company too.



ps My personal view is this company will now have an mbo.

[plmval] 26/7/2013 20:36

FT.com Cupid news 22/7/13. Directors got the value out,left PI punters with the liabilities. Worth registering to view the shenanigans

[f1araway] 26/7/2013 17:07

goldie40 - "THIS PROGRAME IS OLD NEWS"

Oh dear do you really think it is of no consequence then?

OH DEAR.......good luck!

[bubble pricker] 26/7/2013 16:18

Reputation is everything. Cupid is finished. I remain well short.

[goldie40] 26/7/2013 15:12

THIS PROGRAME IS OLD NEWS IT TAKES SEVERAL WEEKS TO PUT A PROGRAMME LIKE THIS TOGETHER ONCE THE FILMING FINISHED IT THEN HAS TO BE PUT IN THE PROGRAME SCHEDULES WEEKS AHEAD ITS PLAIN THE SHORTERS HAVE A INSIDER IN THE BBC THIS IS THE TIME TO BUY ON THIS DIP AS THIS IS VERY OLD NEWS TV PROGRAMES ARE NOT MADE OVERNIGHT THE SHORTERS WILL BE BUYING BACK IN THIS DIP

[joe_satriani2] 26/7/2013 14:43

Lennonsalive - thanks for posting the link to the BBC documentary. Not pretty viewing and I sold out for a hefty loss (in my amateur league).
A few things still puzzle me though... why did Dobbie by a million quids worth of shares? Thats a lot to invest if you know there is some dodgyness going on.
And all this "independent audit" business, who do people expect to pay for it apart from Cupid? Match.com?

[f1araway] 26/7/2013 14:30

The hammering it'll get will be from the authorities.
This WILL start Monday a.m. BEFORE the programme is screeened nationwide.

[xlairways] 26/7/2013 14:09

I sold out this am at about 72p, thankfully at a small profit. It's going to get a hammering I fear.

[robotface] 26/7/2013 13:31

Monday at 8.30pm on Panorama



Are people expecting a statement from Cupid in response to this?

[lennonsalive] 26/7/2013 13:21

It will not wash over time if regulation is brought in (as I found the fake profile stuff VERY sinister, esp the stuff with kiddy images). Also the compensation that MUST be paid for fraud.

I hear this is going to be screen on primetime, can anybody confirm the date and time?

[wylecoyote] 26/7/2013 13:05

Incredible....this will wash over in time and I will stake my life savings into this if it drops below 40.0p... Hogwash, I have used these dating sites before and I am aware that some things are too good to be true, I avoid paying where possible. Still, it worked for me when I did decide to pay. Still, if you were mug enough to join because a gorgeous twenty something fancied you, more fool you. They do a service.

[bomfin] 26/7/2013 12:38

Apologies if the island example related to another company.

[narindg] 26/7/2013 12:29

this co is still hanging at 70p after the news..amazing

[phoenix1234] 26/7/2013 12:02

Cupid – Devastating BBC Expose - you going to sue or come clean? - See more at: hxxp://www.shareprophets.com/#sthash.I4b9dAeR.dpuf

[andy] 26/7/2013 09:59

Simon,

In view of some of your previous comments about Cupid, I would have thought that they would have threatened you with a libel action.

The lack of this suggests to me they may have a reason for not doing so.

After watching that program made AFTER the KPMG "audit", it reflects badly on the industry, and the Scottish Island example for another dating company was the icing on the cake.

Quite a clever explanation given though, they ought to repeat that test again with an equally remote location on the west coast of Scotland, so the American excuse could not be given.

There is an easy way to disprove the "scammer" excuse, check the IP address used to create the ID!

[simon cawkwell] 26/7/2013 09:06

KPMG emerges from all this with little credit. They should never have attached their name to Cupid's drivelling lies.

[jpsmithson] 26/7/2013 08:59

Dont worry because a completely independent audit said Cupid were doing nothing wrong.
Yes that one, the completely independent and thorough one paid for by Cupid.

[bomfin] 26/7/2013 08:57

Anybody with half brain would set up their company so this couldn't happen? I mean who does the responsibility lie with?