Lavalife
Encyclopedia
Lavalife is an online dating service
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In 1989, Bruce Croxon, Nick Paine and Rasool Verjee became partners in Telepersonals. The business blossomed as each of the five partners focused on their area of expertise, David: new city expansion, Bruce: marketing, Ed: product development, Nick: organizational development, Rasool: entrepreneuralship.
The web based version of the dating service developed when the owners of the soon to be online, Lavalife, bought out an existing, established, and already successful online dating site formerly known as Webpersonals. The existing site was completely revamped and online under the name of Lavalife effective 2001. The site has been successful particularly in Canada. Annually, Lavalife has reached revenues of roughly $100M a few times in its history.
In 2004, the original co-founders sold their entire stake in Lavalife to Vertrue, a direct marketing company residing out of the US.
Online dating service
Online dating or Internet dating is a dating system which allows individuals, couples and groups to make contact and communicate with each other over the Internet, usually with the objective of developing a personal, romantic, or sexual relationship...
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History
Lavalife began as a basement operation in 1987 by two Toronto entrepreneurs: David Chamandy and Ed Lum. It began as an automated telephone answering and broadcast service called Teleclassifieds which evolved into a telephone dating service known as Telepersonals.In 1989, Bruce Croxon, Nick Paine and Rasool Verjee became partners in Telepersonals. The business blossomed as each of the five partners focused on their area of expertise, David: new city expansion, Bruce: marketing, Ed: product development, Nick: organizational development, Rasool: entrepreneuralship.
The web based version of the dating service developed when the owners of the soon to be online, Lavalife, bought out an existing, established, and already successful online dating site formerly known as Webpersonals. The existing site was completely revamped and online under the name of Lavalife effective 2001. The site has been successful particularly in Canada. Annually, Lavalife has reached revenues of roughly $100M a few times in its history.
In 2004, the original co-founders sold their entire stake in Lavalife to Vertrue, a direct marketing company residing out of the US.