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Online dating service enters the Australian scene

DESPERATE and dateless rejoice. ECAT Development Capital has entered into an agreement with a US-based Internet dating service to establish a similar service in Australia.

M@tchnet Plc owns the website americansingles.com – one of the world’s biggest Internet dating services with more than 500,000 members.

The agreement with ECAT gives M@tchnet 49 per cent of M@tchnet Australia, developer of australiansingles.com.au.

ECAT – a pooled development fund controlled by Grange Resources will own the remaining 51 per cent of M@tchnet Australia.

ECAT director Richard Marsh said M@tchnet Australia would aim for 50,000 members in two years.

“It is planned for M@tchnet Australia to be the first listed Inter-net introduction service in Australia by completing an initial public offering and listing on the Australian Stock Exchange in the second half of 2000,” Mr Marsh said.

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