Media/Gaydating website seeks investors
Friday 09 March 2012
The owner of Gaydar, the gay dating website and radio station, is appealing for external investors and could consider a full sale of the business.
QSoft Consulting, the parent company, said "significant cash investment is being sought to help drive the company's global growth ambitions".
Gaydar claims to have six million registered online users across 140 countries and 750,000 listeners for its UK radio station. It has also made a big push into mobile with mobile phone apps for iPhone and Android.
QSoft has appointed Ashcombe Advisers to assess potential investors after receiving approaches. Simon Bullivant, senior partner at Ashcombe, said: "The company recognises that further investment and management expertise is required to fulfil the true commercial potential."
Latest accounts for QSoft show it swung to a pre-tax loss of £38,000 in 2010 from a profit of £930,000 a year earlier. Revenues were just under £7m.
Gaydar was founded in 1999 by Henry Badenhorst and Gary Frisch. Frisch died when he plunged from a balcony in 2007 and left most of his estate, worth more than £6.5m, to Mr Badenhorst.
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