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And EHarmony’s growth has slowed: Its 2012 revenue is estimated at 5 million, up 3.8% from last year.
That’s down from 2008, when EHarmony saw 16.4% year-over-year growth, IBISWorld said.
He and his wife of 53 years, Marylyn, moved from a spacious home in Maine to a two-bedroom apartment in Santa Monica. He jokes that he must be one of the oldest CEOs in the country but says he plans to keep this up for five years before retiring for good.
It’s a grueling schedule, but one Warren said he felt compelled to take on as the company moves beyond online dating.
As you mine that data, you might uncover various things that could create another business,” said Kerry Rice, senior Internet and digital media analyst at Needham & Co.
“I think that’s a fair strategy.” How EHarmony manages that wealth of member information — users fill out an extensive questionnaire when they join the site, answering questions about their daily habits, likes and dislikes, past experiences and goals — will be the key to whether the new ventures are successful, said Mark Brooks, an online dating industry consultant.
“We’ve got over 1.2 million people who have been married using the EHarmony services.
Through a combination of layoffs and voluntary departures, the company went from 260 employees a year ago to 160 today.
But our sense was, we could do a lot more than that.” Analysts said it’s a logical next step for a company that has amassed a virtual treasure trove of data over the years.
“We have the buzz word of big data, and that lends itself to all sorts of different things.
“We’d gotten a bit lost,” Warren said recently at the company’s Santa Monica headquarters, decorated with hundreds of photos of couples who met on the website.
“Things were going backward, and we weren’t doing nearly as well as we were doing before.” In the last three years, he said, new memberships, retention rates and time spent on the site were all down. executive Jeremy Verba, left after just a year because of strategic differences with the board of directors, of which Warren has always been chairman.
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“We built a brand that was way too big for one revenue stream,” Warren said.