Sector: Technology

Online dating in DACH region

Business Overview

  • Founded in 2001 and headquartered in Hamburg, PARSHIP is one of Europe’s earliest online dating businesses and has built up a strong position in Germany, Switzerland and Austria. PARSHIP also has a presence in 10 other countries
  • The business generated revenues of approximately €60 million and EBITDA of approximately €8 million for the year ended 31 December 2014. PARSHIP’s strong growth trajectory has continued in 2015 and the last 12 months’ EBITDA to 31 March 2015 was over €12 million

Investment Thesis

  • Due to strong market fundamentals, online dating is a growing and profitable business in the DACH region
  • PARSHIP holds a strong market position in the DACH region; positive feedback loops and high barriers to entry mean that PARSHIP is set to continue its successful growth story
  • Business model is highly cash generative with little capex and negative working capital