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uDate.com, inc. completes Kiss.com acquisition to become largest publicly-traded entity in the sector with 4 million members; reports strong first quarter subscriptions
New York (ots-PRNewswire) - Q1-2001 membership subscription receipts show 12-fold increase over Q1-2000 and 55 per cent over Q4-2000
uDate.com (OTC Bulletin Board: UDAT) announced today that it
completed the Kiss.com acquisition for US$19.1 million on March 29,
"The closing of the Kiss.com acquisition marks a significant
milestone for uDate positioning us as one of the top three players in
the Internet dating sector along with Ticketmaster's Match.com and
Terra Lycos' Matchmaker web properties," noted Mel Morris, Chief
Executive Officer, uDate.com, inc. "In addition, with almost four
million registered members, I believe uDate.com, inc. is now the
largest publicly traded entity dedicated to the sector. We expect to
see more consolidation in this sector and will consider further
acquisitions that can predictably contribute towards the profitable
growth of our business," stated Morris.
uDate also reported significant growth in Q1-2001 subscription
receipts and registered members. As of April 2, 2001, the uDate.com
web site had 1,500,785 registered members up 41 per cent on Q4-2000
(1,062,880). Subscription receipts for the first quarter 2001 were
$1,518,761, representing a 55 per cent increase over the fourth
quarter of 2000 ($982,455) and a 12-fold increase over the same
period last year ($118,692).
uDate.com web site analysis
Quarter Marketing New Reg. Mktg Cost New Paying Subscription
Costs Members /Reg. Member Subscribers Receipts
Q1+Q2-2000 $1,529,249 187,863 $8.14 12,731 $407,043
Q3-2000 $2,078,674 522,704 $3.98 25,173 $798,367
Q4-2000 $842,198 261,926 $3.21 17,938 $982,455
Q1-2001 est.$800,000 430,085 $1.86 30,727 $1,518,761
"This is a significant achievement which clearly demonstrates the
strong and consistent growth of our business," said Morris. "During
last two quarters, we have refined our business model, targeted our
advertising and enhanced our services. In particular, at the end of
February 2001, changes were made to the uDate.com application to
increase the interaction between members and to better manage
inactive member profiles. Almost immediately, the conversion ratio
of new registered members to paying subscribers increased
substantially. Significantly, and as a direct result of these
changes almost 50 per cent of the first quarters' subscription
receipts ($776,244) were generated in the last 36 days of the current
"We are pleased that our investors and shareholders have had the
opportunity to witness our first quarter results in isolation of the
Kiss acquisition," continued Morris. "With uDate and Kiss combined,
we believe our second quarter should yield subscription receipts in
excess of $4M. In March 2001, the combined web sites attracted more
than 305,000 new registered members and achieved subscription
receipts in excess of $1.38M for the month."
About uDate.com, inc.
uDate.com, inc. operates high-quality web sites that serve the
online singles community. The company stresses service, efficiency
and personal security through its two leading brands uDate.com
(http://www.udate.com) and Kiss.com (http://www.kiss.com).
uDate.com was launched commercially in January, 1999 to provide a
comprehensive Internet Dating service featuring extensive customer
profiles, sophisticated matchmaking technology and fully integrated
instant messaging capabilities. uDate.com operates at the top end of
its market sector with 1.5 million registered members and provides
features that surpass the most professional off-line dating services.
Kiss.com was launched in 1995 and is a market leader in the
provision of online picture personals with more than 2.3 million
Both uDate.com and Kiss.com web sites offer free registered
membership. A registered member of either web site may post their
profile and photographs and utilise the search or matchmaking
features offered by the site. To enable communication with other
members however, registered members must purchase a subscription.
Subscription plans are available allowing communication for periods
of 5 days to 12 months.
Subscription receipts as stated in this release relate to paid
memberships purchased during the period stated. Revenues reported in
SEC filings are prepared subject to US GAAP and are based on
subscription receipts for the period, adjusted for deferred revenues
to take account of membership pre-payments.
Certain statements in this press release that do not contain
historical facts or information are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements include those (a) that contain the words "may," "will,"
"should," "estimates," "predicts," "potential," "continue,"
"strategy," "believes," "anticipates," "plans," "expects," "intends,"
and similar expressions, (b) that describe any of the Company's or
management's plans, objectives or goals for future operations and
products, or (c) that concern the characteristics and growth of the
Company's markets or customers or products or the expected liquidity
and capital resources of the Company. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, levels of activity,
performance or achievements of the Company to be materially different
from any future levels of results, activity, performance or
achievements expressed or implied by such forward-looking statements.
Such risks include, among others, those set forth in the Company's
Annual Report on Form 10-KSB under the heading, "Risk Factors"
contained within Item 6. Management's Discussion and Analysis or Plan
of Operations. Such Risk Factors include the following: risks
related to the Company's financial condition and business model,
risks related to the Company's markets and strategy, risks related to
the internet and the Company's technology infrastructure, risks
related to government regulation, and risks related to volatility in
the price for the Company's securities and the effect of future sales
of the Company's common stock. For a detailed discussion of these
risk factors and other cautionary statements, please refer to the
Company's filings with the Securities and Exchange Commission,
including the Company's Annual Report on Form 10-KSB for the most
recently ended year.
ots Originaltext: uDate.com, inc.
Public Relations Stanton Crenshaw
Tel: +1 212-780-1900
Sammie Becker firstname.lastname@example.org
Investor Relations PrimeVest, Inc.
Tel: +1 866-774-6468
Tim Garlin email@example.com
uDate.com, inc. uDate.com, inc.
Tel: +1 877-815-2955
Mel Morris, CEO firstname.lastname@example.org
Web site: www.udate.com http://www.kiss.com