How The Master Of JDate And Christian Mingle Lost At Business Of Love

How The Master Of JDate And Christian Mingle Lost At Business Of Love

Spark Networks, owner of JDate, Christian Mingle, along with other website dating internet sites, is dealing with a tough activist campaign by the hedge investment Osmium Partners, which will be trying to unseat the board and force a purchase regarding the company that is troubled.

Then Spark Networks, owner of JDate, Christian Mingle, and a handful of other niche dating sites, is about to get its heart broken if love is a battlefield.

Osmium Partners is virtually specific to win the four board seats it is gunning for when Spark holds its yearly shareholder conference a few weeks, sources knowledgeable about the specific situation stated, allowing the activist hedge investment to seize control and force a purchase associated with company. Initially scheduled for June 17, Spark has recently delayed the yearly meeting until June 28, a move these sources stated is directed at purchasing Spark longer to rally investors to vote down Osmium’s proposal or preempt a forced sale by securing its buyout offer.

A representative for Spark, which trades beneath the “LOV” stock ticker, declined to comment beyond citing the business’s general general public filings.

Osmium, which has 15percent of Spark, established its proxy battle in December 2013, citing just just what it claims are Spark’s bad business governance, settlement issues, and decreasing stock price. The hedge investment additionally alleges that Spark has mismanaged JDate, its “crown jewel,” and that its Christian systems have been underperforming in accordance with their online dating sites peers.

The market and shareholders may actually have actually fallen right out of love with “LOV. at a per share price of around $5, a nearly 50% decrease in less than per year” As Osmium waits to see whether voters will think its four board nominees are a definite match, here is a glance at a number of the hedge investment’s other gripes with Spark, according to a presentation it offered to investors in might: