Appoints Adam Medros as Chief Executive Officer and names revamped C-suite following successful recapitalization
Names Laura Marcero as Chair of the Board of Directors
Spark Networks SE ("Spark" or the "Company"), a leading social dating platform for meaningful relationships, today announced Adam Medros as Chief Executive Officer ("CEO"), effective February 19, 2024. In addition to Medros, Spark announced the appointments of Bill Alena as Chief Revenue Officer, Suresh Dhandapani as Chief Product Officer, and Jessica Moffitt as interim Chief Financial Officer, joining Tobias Plaputta, Chief Technology Officer, to lead the Company's next phase of growth.
"As Spark completes a successful restructuring and continues to progress in our business transformation, there is incredible potential before us and we are taking the opportunity to revitalize our leading portfolio of social dating apps," said Medros. "With the support of our new owner, I look forward to building on the team's success and innovations, and working with our best-in-class leadership team to drive growth by sparking relationships that matter around the world."
In his role as CEO of Spark, Medros will spearhead the Company's ongoing business transformation across its portfolio of social dating apps which includes Zoosk, EliteSingles, SilverSingles, Christian Mingle, Jdate, and JSwipe, among others. Medros brings over a decade of C-suite level experience, most recently serving as Chief Operating Officer of Embark Veterinary, where he led Product, Engineering, Marketing and Sales functions. Prior to Embark Veterinary, he was President and Co-CEO of edX.
Additionally, each new leader brings valuable expertise designed to further optimize Spark's operations and create new, scalable technology that serves its members globally:
- Bill Alena (Chief Revenue Officer) will lead the Company's product monetization and marketing efforts, leveraging more than 25 years of relevant industry experience in growing platforms and building revenue at companies including Social Discovery Group and The Meet Group.
- Suresh Dhandapani (Chief Product Officer) possesses a proven track record of using technology to create customer-first experiences, including at Mojo, Glossier, and Amazon, and will focus on building innovative offerings across Spark's portfolio of social dating apps.
- Jessica Moffitt (Interim Chief Financial Officer) will strengthen Spark's finance function by drawing on her extensive experience leading finance teams at startup and growth stage companies, including Mojo and Common, where she specialized in building efficient operations, improving cross-functional processes, and developing strong talent.
In connection with Medros' appointment, Colleen Brown is stepping down from her position as interim CEO and Chair of the Board of Directors. With this transition, current board member Laura Marcero has been appointed as the Chair of the Board of Directors.
"Adam and Laura bring a wealth of experience to their respective roles as CEO and Chair of the Board of Directors," said Brown. "Having taken Spark through its financial restructuring, now is the time to bring on new leaders to shepherd the Company into the future. I have full confidence that Adam, Laura, and the incoming leadership team will drive the Company into its next chapter under the ownership of MGG Investment Group LP."
"As we look to Spark's promising future, we are pleased to welcome to the Company a new bench of veteran executives with proven track records scaling consumer technology platforms and bolstering companies' operations," said Kevin Griffin, Chief Executive Officer and Chief Investment Officer of MGG Investment Group LP. "We are grateful for Colleen's leadership during this critical point in Spark's evolution and are excited to now support Adam and his team as they chart a sustainable path forward for Spark and its brands."
About Spark Networks SE
Spark Networks SE is a leading social dating platform for meaningful relationships focusing on the 40+ demographic and faith-based affiliations. Spark's portfolio of premium and freemium dating apps include Zoosk, EliteSingles, SilverSingles, Christian Mingle, Jdate, and JSwipe, among others. Spark is headquartered in Berlin, Germany, with offices in New York and Utah.
About MGG Investment Group LP
Founded in 2014, MGG is a private investment firm that provides bespoke investment solutions to mid-size and growing middle market companies. MGG works with owners and management teams to help build lasting value, address immediate needs, and solve complex situations while seeking to generate attractive risk-adjusted returns for investors irrespective of and through market cycles. For more information, visit www.mgginv.com
Forward-Looking Statements
Statements in this press release that are not strictly historical may be "forward-looking" statements that involve risks and uncertainties, or statements based on reasonable belief. Neither MGG nor Spark undertakes any obligation to update any such statements to reflect later developments. These risks and uncertainties include the companies' ability to successfully complete on the terms and conditions contemplated, the financial impact of the proposed transactions referenced herein, the scope, duration and ultimate impacts of any global pandemic or conflict, as well as economic and currency conditions, market demand, among others.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240220557098/en/
Contacts:
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