Dating Platform Zoosk Ditches IPO Plan As Founders Exit Leadership Roles

TechCrunch

Zoosk, the online dating platform that has been around since 2007, has today announced changes to leadership, with CFO Kelly Steckelberg taking over as Chief Executive Officer. She will be replacing cofounder Shayan Zadeh, who is becoming a member of the board, and his cofounder Alex Mehr (currently President) will also be moving into a board position.

The shift comes at a time when Zoosk is reassessing the idea of an IPO, a process the company officially started back in April. The company filed an S-1 for a $100 million IPO, but has since decided to revisit that option at a later date.

“Since the time we filed, the market condition around comparables that would be used to help value our company, like Angie’s List and Care.com, have not performed well,” said Steckelberg. “While the overall market might seem receptive to a public offering, subscription businesses have suffered.”

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