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Month: October 2018

The Tinder-Bumble Feud: Dating Apps Fight Over Who Owns The Swipe

Posted on October 31, 2018

Lawsuit picWFSU – Oct 31 – In dueling lawsuits, Match, which owns Tinder, alleges that Bumble stole Tinder's intellectual property. Bumble says those claims are bogus, designed to drive down Bumble's worth and "poison Bumble in the investment market," according to Bumble's lawsuit. One of the central questions revolves around Tinder's patented system for connecting people over the Internet. The matching is based on mutual interest, as expressed through a swiping motion. It's a real patent. But Bumble says it shouldn't be. Patents are supposed to cover inventions, not abstract ideas. Design a machine that does something, and you can patent it. Have an general idea, an overall concept? No patent. "You don't get a patent for saying 'cure dementia with a drug.' You have to say what the drug is," explains Daniel Nazer, a staff attorney at the Electronic Frontier Foundation. But in the Internet era, people discovered they could get a patent for an otherwise abstract idea as long as they tied it to an existing technology.

by Camila Domonoske
See full articl at WFSU

See all posts on Bumble
See all posts on Tinder

Summarized by the IDEA team

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Dating App Divorces Are On The Rise

Posted on October 31, 2018

Person on tinderTHE TELEGRAPH – Oct 30 – According to a recent study of European and American online dating users by Erasmus University in the Netherlands, 25% of users on Tinder come with many, sometimes hidden, strings attached. Figures for the U.K. are unclear, but Elisabeth Timmermans, the lead researcher, says data from the U.S. suggests that over half of users there are already in a relationship. The Erasmus study found that "non-single" Tinder users "report a higher number of romantic relationships, French kisses, one-night stands, and casual sexual relationships with other Tinder users compared to single Tinder users". Narcissism and Machiavellianism were positively associated with using Tinder for an ego-boost.

by Eleanor Steafel
See full article at National Post

See all posts on Tinder

Summarized by the IDEA team

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The Inner Circle – Opening Amsterdam Stock Exchange

Posted on October 31, 2018

The Inner Circle - Opening The Stock ExchangeOPW – Oct 31 – The Inner Circle CEO David Vermeulen sounded the gong to open the Amsterdam stock exchange (Euronext.com). The selective dating app, based in Amsterdam, has been ranked number one in the Technology Fast 50 ranking 2018, the list of the fastest growing technology companies in the Netherlands. By sounding the gong CEO David Vermeulen celebrates winning.

See all posts on The Inner Circle

Post by the IDEA team

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Unsolicited ‘Dick Pics’ Shouldn’t Be Laughed Off, But Criminalised

Posted on October 31, 2018

Young woman on mobile phoneTHE GUARDIAN – Oct 30 – Random and unsolicited sending of sexual images or videos from men to young women is all too common. In the UK, 41% of women aged 18 to 36 have reportedly received non-consensual sexual images, of whom 23% said they found it distressing and 17% said they felt threatened. Flashing your naked body on the street is indecent exposure – so why should it be excused online? A group of MPs call for crackdown over unsolicited sexual images.

by Sophia Ankel
See full article at The Guardian

Summarized by the IDEA team

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Headed To Web Summit?

Posted on October 31, 2018

Websummit 2018 logoOPW – Oct 31 – The Web Summit conference is happening Monday-Friday next week. Sean Rad, Co-Founder of Tinder, and Grant Langston, CEO of eHarmony are on the agenda. I don't have details of when Sean Rad is appearing, but Grant is on a panel on Tuesday 6th November, day 2 of Web Summit. See Agenda.

Place: Forum
Time: 13:45 – 14:10
Super Fireside: In bed with AI: How tech is changing the way we do it

Grant Langston, eHarmony
Polly Rodriguez, Unbound Babes
Stephanie Alys, MysteryVibe
JP Mangalindan, Yahoo! Finance

Please ping me at mark@idea.gp if you're headed to Web Summit and I'll introduce you to other IDEA peers that are attending, and perhaps we can form a Whatsapp group for the occasion.

UPDATE: Here's the info on Sean Rad's sessions at Web Summit

Wednesday 7th November
Place: Centre Stage
Time: 11:10 – 11:30am
Analyse this: The state of the tech industry

Sean Rad, Founder, Tinder
Dick Costolo, CEO, 01 Advisors
JP Mangalindan, Tech Reporter, Yahoo Finance

Then Sean is interviewed by CNN

Place: Startup University
Time: 4:20 – 4:40pm
Sean Rad in Conversation

Sean Rad, Founder, Tinder
Laurie Segall, Tech Reporter, CNN

Post by Mark Brooks, CEO IDEA

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Wake-up Call, eHarmony Sold For A Song

Posted on October 30, 2018

Eharmony app iconOPW – Oct 30 – ProSiebenSat.1 bought eHarmony for $85 million. A real deal. They'll run on a common platform in the future. eHarmony will do roughly $90m revenues, and $0 profit in 2018. Customer lifetime value for eHarmony is $200, whereas Parship is at $570. More info here. Brand recognition for eHarmony stands above Tinder and on par with the likes of Instagram and American Airlines.

See full article at the Courtland Brooks blog.

See all posts on eHarmony
See all posts on Parship

This post also appears on InternetDatingInvestments.

Post by Mark Brooks, CEO IDEA

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eHarmony’s CEO Discusses Artifical Intelligence

Posted on October 30, 2018

Artificial_intelligenceOPW – Oct 30 – eHarmony's CEO Grant Langston was just on a webinar today, entitled 'Leveraging A.I. to boost customer acquisition, engagement, and retention,' which is available here.  

Speakers were:

  • Grant Langston, CEO, eHarmony
  • Dave Gerhardt, VP Marketing, Drift
  • Brian Witlin, CEO, Yummly
  • Moira Dorsey, Founder, Dorsey Experience

As part of the scene setting they stated that Google's CEO, Sundar Pichai, was quoted in the past as saying "A.I. is one of the most important things humanity is working on.  Its more profound than electricity or fire."

Grant Langston kicked the webinar off and in his intro he mentioned that he started as a copywriter, no less, at eHarmony and has been with the company 18 years now.  "I Feel a real attachment to the business and the mission." 

Grant also stated that at eHarmony "A.I. is at the heart of everything we do.  Integral to the whole company.  We probably know more about our customers than any company in the world." 

"When you join eHarmony and take 150 questions…  We put you in a 'bucket'…  Then as you make choices about the matches that we present, the machine is learning about you as an individual…  The more you use the product, the more we learn about you." 

When asked about if eHarmony reveals much about the A.I., Grant said, "People don't generally want to know about the algorithms and how we match.  But it's there if they want to dig in and review it." 

The group was asked about where a good place to start with A.I. was and Grant said that many companies may not need to integrate A.I. into the hearts of their products but, "a good place to start with AI is using it in marketing."

Finally, Grant mentioned that A.I. and the eHarmony experience was consistent across mobile and desktop. "We strive to provide the same experience across all of the platforms, for the 5 countries we're in."

See all posts on eHarmony

Post by Mark Brooks, CEO IDEA

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How Much Was eHarmony Sold For?

Posted on October 30, 2018

Eharmony logo 2018FINANCIAL TIMES – Oct 30 – ProSiebenSat.1, one of Germany's largest media groups, has agreed to buy US dating site eHarmony as part of its drive to create the world's biggest online matchmaker. ProSieben already owns stake in Parship Elite, a successful German dating business. ProSieben, which will merge eHarmony with Parship Elite did not disclose financial terms of the deal. But one person briefed on the acquisition said it valued eharmony at $85M – making it a surprisingly cheap date compared with rival Match, which has a market value of $13.7B. eHarmony, which raised ~$100M during just one fundraising round 15 years ago, has spent ~$1B on marketing in recent years, according to the person.

by Matthew Garrahan
See full article at Financial Times

Mark Brooks: eHarmony was sold for more than $85 million, that's for sure. Its brand value alone is worth double that. I'd put them at North of $300 million valuation.

UPDATE: Turns out FT's source was right on. eHarmony was indeed sold for $85m, so I need to eat my proverbial hat. Additional commentary on the Courtland Brooks blog. 

See all posts on eHarmony
See all posts on Parship
See all posts on ElitePartner

This post also appears on InternetDatingInvestments.

Summarized by the IDEA team

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900,000 Reasons To Notice The Meet Group

Posted on October 30, 2018

Themetgroup logoTHE MOTLEY FOOL – Oct 30 – The Meet Group has a hot live-streaming platform and momentum for its established and acquired social discovery and online dating apps. Its stock is trading 46% higher in 2018. The difference maker at The Meet Group is a video business that didn't even exist a year ago. Earlier this month, The Meet Group revealed that it attracted a daily average of 900K users in Sep to its live-streaming offering, and on a typical day 125K users are broadcasting live video content. Revenue from the platform is now running at an annualized clip of $48M, up from a $42M pace back in August. The Meet Group wasn't generating any revenue in this niche a year ago. Analysts are gradually starting to notice its performance. Darren Aftahi at Roth Capital boosted his price target on the shares to $6.75 earlier this month.

by Rick Munarriz
See full article at The Motley Fool

See all posts on The Meet Group

Summarized by the IDEA team

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Tinder Preps Programmatic Ad Partnership With Google

Posted on October 29, 2018

Tinder partial screenshotDIGIDAY – Oct 29 – Tinder is going to sell programmatic advertising using Google's ad tech. Advertisers will be able to buy impressions from the ad server at a fixed price with programmatic guaranteed deals or buy from private marketplaces. Tinder is testing the partnership now and plans to roll it out by the end of the year, said Peter Foster, GM of global advertising and brand solutions at Match Group. The move is similar to one Tinder launched with Facebook last year to sells ads on the social network’s in-app ad network. Unlike Google or Facebook, Match Group's business isn't ad-driven – ~3% of revenue came from ads in the Q2 2018. The rest came from paid subscriptions.

by Seb Joseph
See full article at Digiday

See all posts on Tinder

Summarized by the IDEA team

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