It's one thing to speculate about what's going on with eHarmony these days, but it's quite another to hear it straight from the horse's mouth.
Ok, not a horse – Dr. Neil Clark Warren, CEO of eHarmony and instantly-recognizable white-haired man from the eHarmony commercials. On August 22nd, 2014, the 14th anniversary of eHarmony's founding, Warren sent an internal memo with an insider's look at the company he believes could become “one of the most important companies in the history of the world.”
Read the full thing www.onlinepersonalswatch.com/news/2014/10/eharmony-internal-memo.html[*1] and check out some of the highlights below:
- After nearly losing the company in 2012, eHarmony is back on track with a five-year turnaround plan.
- It wasn't easy. Board members were asked to step down, employees were fired, vendor contracts were terminated, and an all-new executive management team was put in place.
- Even some of eHarmony's top leadership changed. Grant Langston and Dan Erickson were appointed to the Management Team, and Armen Avedissian was hired as the new COO.
- Just two years in, the company is showing signs of a major comeback. “Instead of losing 100,000 end of period subscribers each year,” writes Warren, “suffering EBITDA losses of 50% every single year, our EBITDA for 2014 will literally be dramatic and the cash in the bank increasing substantially each month.” eHarmony's end of period paying subscriber count has hit an all-time high.
- A major move is in the works. eHarmony's offices will be relocating to prestigious digs on Wilshire Boulevard in Los Angeles.
- The current business plan includes building ten separate relationship businesses with ten separate revenue streams.
- eHarmony intends to scale up by increasing its international reach. The company now employs 190 staff members in North America, the UK, and Australia, but hopes to reach other countries in the future – first in English, then in their native languages.
- Selling the company is definitely not part of the plan. “We do not ever again wish to expose the ownership and management of our business to persons who know almost nothing about relationships,” says Warren, “and have even less commitment to the sacredness of the relationships we are attempting to assist.”
Warren is feeling confident about the future of eHarmony. Maybe even a little over-confident, actually. Case in point:
“Bottom line, as a company, we want to bring about a world in which literally everyone has peace, love, joy, patience, kindness, goodness, faithfulness, gentleness and self-control. Then, we will know that we have reached our loftiest and most idealistic goals.”
Whew. “Idealistic” is right. But all the best to them, and if they get even halfway there, eHarmony will be a rousing success. For more on this dating site you can check out our eHarmony review.