Scotland business

Cupid woos and wins new markets

Flamingos wrap their necks in the shape of a heart
Image caption The company was recently named Scotland's fastest-growing technology firm

The online dating firm Cupid has spread its international reach and now operates in 15 countries worldwide.

The Edinburgh-based group announced that its pre-tax profits rose by 7% to £7m in 2011.

Total revenue more than doubled to £53.6m, with half of that figure coming from outwith the UK.

The company, recently named Scotland's fastest-growing technology firm, said its number of subscribers rose to 486,776. It now employs 420 people.

Cupid said it continued its international expansion during 2011, acquiring 75% of two German businesses and 100% of a small Brazilian business.

Its largest single cost was marketing, with the company spending £29.9m on direct marketing last year.

Chief executive Bill Dobbie said social media websites created new marketing opportunities for the company.

He added: "We have seen our marketing spend on Facebook and on mobile products grow to 40% of our marketing budget over the last year, and that reflects people's usage - around 40% of people are using our products via our Facebook app or our mobile app."

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