Monday, April 25, 2011

Match Latam revenue (estimated) USD 29 million per year

Match Latam revenue (estimated) USD 29 million.
From IAC full year 2010 FORM 10-K SEC
Revenue by geography is based on where the customer is located. Geographic information about the United States and international territories at page 99.

Year Ended December 31, 2010
United States USD 1,359,655,000 (83%)
All other countries USD 277,160,000 (17%)
Total USD 1,636,815,000

"Match" Revenue 2010: USD 400,723,000 from page 26
They use the word "Match" meaning "Personals: Match + Chemistry + NetClubEncuentro + Udate + PeopleMedia communities + SinglesNet + YahooPersonals + OKCupid".
"As of December 31, 2010, we collectively provided online personals services to approximately 1.6 million subscribers." at page 7

Suppose 80% of "Match" Revenue 2010: USD 400,723,000 is really from Match sites.
That is USD 320,578,400

Suppose 17% is from outside United States.
That is USD 54,498,328 from Asia - Pacific, South Africa and rest of Americas, not Europe because IAC had sold its European operations to Meetic.

From 1 and 2
Match Argentina costs ARS $ 80.00 per month (USD 20.00)

If you divide USD 54,498,328 by USD 240 (12 months at USD 20), it is 227,076 annual paid subscribers outside United States.

Suppose 80% of "Match" subscribers are from Match sites and 17% are from outside USA.

That is 1.6 million subscribers * 0.80 * 0.17 == 217,600 subscribers from Asia - Pacific, Africa (South Africa, Australia, New Zealand, India, Japan) and rest of Americas (Canada, Mexico, Brazil, Argentina, Chile, Venezuela, Peru, Colombia)

Some Match sites are sub domains like the Canadian, Brazilian, Chilean and Argentinean sites, others are independent domains like the Mexican, Peruvian, Venezuelan sites.

Suppose Canadian subscribers are nearly 80,000 and from Asia - Pacific, Africa 40,000 subscribers, the rest are more or less 100,000 subscribers from Mexico, Venezuela, Peru, Colombia, Brazil, Argentina and Chile.

100,000 subscribers for Mexico, Venezuela, Peru, Colombia, Brazil, Argentina and Chile at USD 240 per year, that is USD 24 million revenue per year 2010.

As for ParPerfeito, it has less than 100,000 paid members, revenue is in the range of USD 10 million (50% Match 50% Meetic)

So the Latam revenue for Match is 24 + 5 = USD 29 million less than ...... PlentyOfFish.

The unexploited Latin American Market remains enormous!

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