PLC, an online dating service, has acquired sole ownership
of its Australian operations and acquired the rights
to its Australian Web site, domain names and trademarks.
MatchNet paid $75,000 to buy out ECAT Development Capital
Ltd., an Australian venture capital firm, said Joe Shapira,
MatchNet's chief executive.
"It's kind of housecleaning," said Shapira
said. "They were supposed to market the Web site
and they weren't doing it, so we decided to take over
the property and manage it like we know how."
MatchNet has about 70 employees and is based in Beverly
Hills, though its stock traded on the Frankfurt Stock
Exchange. The company operates Jdate.com, a popular
dating site for Jewish singles, among other dating sites.
MatchNet reported net income of $937,288 for the six
months ended June 30, compared with a loss of $6.1 million
in the like-year earlier period. Revenues in the first
six months were up 83 percent, to $7.8 million