The online dating website Zoosk filed papers with the Securities and Exchange Commission Wednesday announcing a planned $100 million initial public offering.
The San Francisco startup was founded in 2007 and began as a website but has been particularly successful as a mobile app, grabbing the number one grossing dating app spot in the Apple app store. The 26-million member service, with users spread across 80 countries, saw revenues of $178 million last year for a net loss of $2.6 million in 2013, Techcrunch reports. In 2012, the site posted a significantly higher net loss of $20.7 million and revenues of just $109 million.
While Zoosk’s earnings have yet to hit positive territory, the service has been gaining users at a rapid pace. According to its IPO filing, by the end of 2013 Zoosk had a total of 26 million members and 650,000 paying subscribers — up 44% and 35%, respectively from 2012.
Bookrunners for the IPO include Bank of America Merrill Lynch, Citigroup, and RBC Capital Markets, according to Techcrunch.
More Must-Reads from TIME
- How Donald Trump Won
- The Best Inventions of 2024
- Why Sleep Is the Key to Living Longer
- How to Break 8 Toxic Communication Habits
- Nicola Coughlan Bet on Herself—And Won
- What It’s Like to Have Long COVID As a Kid
- 22 Essential Works of Indigenous Cinema
- Meet TIME's Newest Class of Next Generation Leaders
Contact us at letters@time.com