August 28, 2008
SpeedDate.Com Secures $6 Million in Funding
SAN MATEO, Calif., Aug. 28 /PRNewswire/ -- SpeedDate.com, the world's first online speed dating service, announced today that it has secured $6 million in Series B funding from Menlo Ventures. SpeedDate will use this funding to further grow its user base, expand operations, and enhance SpeedDate.com's functionality.
"We are excited by the opportunity to accelerate our growth and build on our momentum," said Simon Tisminezky, CEO of SpeedDate.com. "We are focused on providing our users with the quickest way to meet other singles for live online dates. No other dating site allows you to log on and be matched on live dates immediately."Launched only ten months ago, SpeedDate already has millions of users in 190 different countries, and has been growing at 50% per month. SpeedDate hosts over 100,000 online speed dates every day, estimated to be more daily speed dates than occur offline in the entire United States.
"SpeedDate.com has developed a revolutionary product and rapidly achieved a critical mass of users," said Mark Siegel, Managing Director at Menlo Ventures. "We have been impressed with SpeedDate.com's phenomenal growth rate and we are confident that it is well positioned to capture significant market share and expand the online dating category."
SpeedDate.com, the world's first online speed dating site, was launched in October of 2007. SpeedDate.com's patented system allows singles to meet each other through 3-minute online speed dates using webcams, audio, and instant messaging. SpeedDate is available by visiting http://www.speeddate.com/ and as a popular application on Facebook, MySpace, Bebo, and meebo.
Since 1976, Menlo Ventures has helped visionary leaders turn technical innovations into world-class companies. Many of these companies have become leaders in their respective markets, including LSI Logic, UUNET Technologies, Xros, Cyras Systems, Hotmail Corporation, Ascend Communications and Clarify.
CONTACT: Dan Abelon of SpeedDate.com, +1-650-341-4200
Web site: http://www.speeddate.com/