Month: May 2018

Match Group Q1 Results & Earnings Call Highlights

Posted on May 9, 2018

Match group brands selected 2018OPW – May 9 – Match Group has released its Q1 2018 earning results. "We are delivering all time best," said CEO Mandy Ginsberg at todays earnings call. Total revenue grew 36% YOY to $407M, the highest quarter over quarter revenue growth since the IPO. Tinder average subscribers were 3.5M in Q1 2018, increasing 368K sequentially and 1.6M YOY. Operating income was $112M, an increase of 91% YOY, while Adjusted EBITDA increased 60% YOY to $138M.

Highlights from the earnings call:

  • Tinder is testing first video feature, called Loops which are 2s-looped user-generated videos that allows users to show their personality.
  • Tinder is also testing a new location based feature called Tinder Places. It allows users to see others going to the same places they do (bars or museums). Tinder has been testing this product in 3 international markets with a small group of users. In the first three weeks Match saw users going to 200 social places. Half of them engage daily with Places and 96% of them have continued using this feature. It is an opt-in feature, and it will be available to all users in Q2.
  • This week, Tinder started the "message first" setting to allow users (especially women) to have more control.
  • Match Group has settled with Chinese "Tinder clone" TanTan. TanTan will re-design its U.S. app and pay Match annual royalty payments.

Mandy talked about Facebook entering the online dating space. "It is really unclear but Facebook dating won't probably have a negative impact on Tinder", said Mandy Ginsberg. Tinder introduced SMS signed up last year. Within two months of this offering, new users went from 100% Facebook sign up to only 25%. (Data from North America). "Users quickly separated Facebook from their dating experience", said Mandy.

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Dating App Flirtar Uses Augmented Reality

Posted on May 9, 2018

Flirtar screenshotsBBC – May 9 – Dating app Flirtar is the first to use augmented reality (AR), but there are several more on the way. Feed, a platform for singles and couples, is launching a platform called Signal, while mainstream apps like Tinder could also expand with AR. Flirtar is only a few months old, but its international user base already stands at ~5K, 10% of whom are in London. The apps is like Pokemon Go, but instead of pokemons, the app shows singles who are using the same augmented reality app. Their faces are circled on a screen as users pass them physically in the street. It feels like a game. When a bubble pops up, it shows a picture of the user in question, along with their name and age. To chat to someone, users have to 'like' them. Flirtar's CEO, Anderson Gobbi, says it "bypasses the disappointment and frustration created by fake profiles" as profiles are only tagged to physically present users.

by Nichi Hodgson
See full article at BBC

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SeekingArrangement Hosted “Sugar Baby Summit”

Posted on May 9, 2018

Seekingarrangement logo 2017BUSINESS INSIDER – May 9 – SeekingArrangement, an online dating service for sugar babies and daddies, hosted a conference in New York City. One of the panels focused on money in sugar dating. According to the panelists, sugar dating isn't just about money – it's about developing a relationship and respecting each other's feelings. In fact, it's generally considered a faux pas to ask for money right off the bat. "The financial aspect of the relationship is something that can be brought up once a level of trust has been built. Anyone asking for money upfront is treating the situation as a job, and Sugar dating is not a job, it's a lifestyle choice," according to the website.

by Shana Lebowitz
See full article at Business Insider

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Match Isn’t Worried About Facebook, Settles With TanTan

Posted on May 9, 2018

Matchgroup vs tantanBLOOMBERG – May 8 – Match Group shrugged off the threat of competition in online dating from Facebook, raising its revenue and profit forecasts and saying it doubts the social media giant will have much of an impact on its business. "People don't want to mix Facebook and their dating lives," said CEO Mandy Ginsberg. Match also settled a patent dispute with Chinese dating app TanTan which Match claimed had copied its app design. TanTan will re-design its U.S. app and pay Match annual royalty payments.

by Gerrit De Vynck
See full article at Bloomberg

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Facebook’s Dating Service: A Match Made In Heaven, Or Hell?

Posted on May 8, 2018

Facebook dating generalTHE STREET – May 8 – Facebook will be venturing into the online dating world later this year. The news was “a bit of a surprise,” given that the announcement came on the heels of the Cambridge Analytica data misuse scandal, according to Mark Brooks, CEO of the internet dating consultancy Courtland Brooks. “If they screw [Dating] up, they can really screw up Facebook,” Brooks said. Brooks said that Facebook has elements that are perfect for an online dating platform, namely its vast reach of more than two billion users, but “if they are going to make the most of Dating, users have to trust Facebook.” With the Cambridge Analytica data misuse, “it’ll certainly cause some people to be reserved,” said Needham analyst Kerry Rice. Rice also raised the question of whether pursuing an online dating service is worthwhile for Facebook. “It will never be their core business,” Rice said. IBISWorld analyst John Madigan said that it is unclear whether Facebook will choose to revoke the ability of third-party apps to use Facebook profile information in this way, but it would seem anticompetitive and against the company’s best interests. “It’s just not fair,” Brooks said.

by Francesca Fontana
See full article at The Street

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Why Has Manchester City Swiped Right For Tinder?

Posted on May 8, 2018

Tinder manchester city sponsorshipFORBES – May 8 – Manchester City's parent City Football Group (CFG) agreed a multi-year deal with dating app Tinder. Tinder wants to use sport to retain and attract new users and believes that football's position as the world's game mean it would appeal to people all over the globe. By associating itself with the City brand, it can deliver offers to its user base. CFG not only owns Manchester City, but also US Major League Soccer (MLS) franchise New York City FC, Australian A-League side Melbourne City and other clubs around the world. The Tinder deal covers Man City's men's and women's team and NYFC, adhering to Tinder's inclusivity goals. For Manchester City, the ultimate goal is to try and get more fans to generate more revenue that can be reinvested into the team. Tinder is another channel for it.

by Steve McCaskill
See full article at Forbes

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IAC/InterActiveCorp Stock Isn’t Worth Chasing on the Dip

Posted on May 8, 2018

Match group logo jan 2017INVESTORPLACE – May 8 – IAC stock plunged 18% after Facebook announced it was entering the dating space. MTCH stock fell 22%. It's certainly possible that the decline could be an overreaction. But even after Tuesday's declines, neither stock is cheap. Facebook obviously has troubles of its own, which as Match and IAC executives pointed out, could make users less likely to give that platform more data. But the Facebook threat seems very real. It won't necessarily ruin Match's business. But it does have the ability to have some impact on growth in both Match and Tinder.

by Vince Martin
See full article at InvestorPlace

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iDate Conference Review: June 12-13, 2018, Los Angeles

Posted on May 8, 2018

OPW – May 8 – The next US Internet dating conference (iDate) is taking place in Los Angeles in June 12-13, 2018. L.A. events usually focuses on technology and mobile. This year, we are adding another focus – Machine Learning & Artificial Intelligence… "Last month, dating sites have been hiring coders and programmers specializing in machine learning and artificial intelligence," said Marc Lesnick, the conference organizer. We will be also covering Facebook entering the online dating space. Register before May 19th to catch the early bird discount.

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Facebook’s Online Dating Service Won’t Have Ads

Posted on May 7, 2018

Facebook icon 2RECODE – May 6 – Here's what you need to know about the new feature:

  • The feature requires interested users to create a new, separate dating profile.
  • Facebook will make some match recommendations based on interests and other data, like location, but users will also be able to find possible matches by "unlocking" groups or events on Facebook, which will allow them to connect with other singles who have unlocked those same groups or events.
  • Facebook is building a separate messaging experience just for this dating feature.
  • The feature is being built by the company's profile team, which is run by Will Cathcart, a long-tenured product VP who joined the company from Google in 2008. Cathcart oversees all Facebook profiles.
  • Facebook hopes to begin testing the feature in the coming months.
  • Facebook doesn't plan to run ads alongside these profiles, either, and won't use data associated with a user's dating profile or behavior to target them with ads on other Facebook properties.

by Kurt Wagner
See full article at Recode

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Match Wants To Move From ‘Swipe Right’ To ‘Press Play’

Posted on May 7, 2018

Match stories screenshotsMARKETWATCH – May 3 – Match is the leader in the online-dating industry, and the company will rely on new features, including video profiles and location-based additions, in its bid to stay on top. Match.com now has a "stories" feature, and Tinder users in certain countries can experiment with short "loops". The video options will be free. Match also has things planned that could make it easier to connect with those living nearby. The location features take into account not just geographic location but "the ability to connect on social experiences" happening nearby. Facebook, too, said that its dating platform will enable users to connect via events they're interesting in attending.

by Emily Bary
See full article at MarketWatch

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