Cupid trades Flirt.com and Benaughty.com to Grendall

By IVCPOST Staff Reporter

Jul 15 2013, 17:05 PM EDT

United Kingdom's online dating company, Cupid Plc, recently traded a few of its dating sites to Grendall Investment Ltd.

Grendall Investment, which is run by Max Polyakov, bought multiple sites including Flirt.com and Benaughty.com from the leading online entertainment provider for USD65.2 million (GBP43.1 million).

While Cupid has let go of some its top rated and high volume web sites, the company alleged that it will retain its flagship websites such as Cupid.com, UniformDating.com and LoveAgain.com. Last year, Cupid posted GBP80.9 million of revenue. A Peel Hunt analyst, Patrick Yao, commented that Cupid will now be able to emphasize and improve the customer experience on all of its dating sites.

The deal also included a software licensing agreement between the two companies. The said agreement is expected to produce gross revenues of GBP2 million in four years' time.

Max Polyakov is one of Cupid's co-founders but is no longer connected with Cupid. He also holds about 15 % of the shares in Grendall Investment Ltd.