StockMarketWire.com - Online dating company Cupid has taken over several Brazilian online dating sites for a total of $0.75m.
The sites include AondeNamoro.com, a traditional online dating site, and SolteirosComFilhos.com, an online dating site for single parents. The combined sites have 1.4 million members.
The sites have been under the ownership and management of well known and respected Brazilian dating entrepreneur Edgard Nogueira.
Based in Rio de Janeiro, Nogueira will continue to work with Cupid over the next six months.
Of the $0.75m total purchase price, $0.5m is payable within the next two weeks, and $0.25m is conditional upon the achievement of business targets over the next six months.
Story provided by StockMarketWire.com
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