ParshipMeet Group to Launch IPO

ParshipMeet Group, parent company for popular dating apps like eHarmony, MeetMe and Skout, has started preparations for its initial public offering, notably on the heels of Bumble going public earlier this year.

According to Reuters, ParshipMeet Group’s IPO is scheduled for the first half of 2022, but there is some speculation that it may be pushed back in light of Bumble’s falling stock price in recent weeks. ParshipMeet is estimated to be worth upward of $4.1 billion, based on its core earnings, and the company reported revenues of 280 million euros for the first half of the year, up 19 percent.

ParshipMeet is 43 percent owned by General Atlantic and 53 percent by German broadcaster ProSiebenSat.1 Media. These co-owners have begun to invite banks to help organize the initial public offering, but the company has not confirmed who they have invited or begun working with.

ParshipMeet has focused its attention on its livestreaming capabilities in recent months, as video and interactive features have become more popular on dating apps in the wake of the pandemic. The company recently partnered with queer social network Hornet to offer its 35 million users livestream options, as well as with competitor Sparks Network’s popular Zoosk dating app to bring livestream to its platform.

Geoff Cook, CEO The Meet Group and GM Video ParshipMeet Group, spoke of the unusual partnership between dating app competitors in a press release. “Video is table stakes for social and dating apps, and our video Platform as a Service (vPaaS) product is among the fastest and most effective way to bring that capability to our partners.” He continued: “We’re pleased to have pioneered and then delivered a robust livestreaming and creator economy capability for the Zoosk app. Zoosk is one of the most important dating properties on the planet.”

“We make it easy for publishers to engage their audience with livestreaming video while monetizing via the Creator Economy,” said Cook.

The company is appealing to a younger market with its popular brand MeetMe, too. ParshipMeet partnered with TikTok in May of this year, offering users of the dating app the ability to login with their TikTok accounts, as well as to share videos in a TikTok Carousel feature that MeetMe has now debuted. 

Last year, ProSieben dating division ParshipGroup bought The Meet Group for $467 million. Since then ParshipGroup has been renamed to ParshipMeet Group. According to Reuters, ProSieben’s CEO also spoke of his intention to make ParshipMeet public in 2022.