Edinburgh-based online dating company Cupid has seen its overseas sales more than double, contributing to an overall revenue increase of 51 per cent.
The biggest successes have been seen across Europe, with the markets of France, Italy and Spain particularly seeing good growth. The North American market too has proved profitable, with both the US and Canadian markets doing well.
All together, these markets have seen revenue increase by 122 per cent – equal to £22.2m.
Talking about the growth, the firm’s chief executive Bill Dobbie said:
“During the period we concentrated on growth within our existing global footprint, particularly in the USA, where our strong performance gives us increased confidence in our ability to continue to unlock further sustained growth at rates that are well above market trends.”
The huge growth has been achieved through an aggressive marketing strategy, which the firm is now going to progressively scale back. It hopes this will see even higher profits achieved.
It is a growth which some Scottish companies can presently only dream of. However, there are opportunities for growth throughout many business sectors. Where marketing budgets of Cupid’s volume cannot be justified though, many are finding alternative ways to finance their plans.
Scottish factoring companies are helping secure invoice finance funding for example, such as discounting and factoring.
With a global market to tap into, Cupid will hope that its standing in the market will propel it further forward. With its three core areas of online casual dating, niche dating and traditional dating all growing in popularity, the future could be full of love for the company.