Month: December 2018
Grindr, the First Big Dating App For Gays, Is Falling Out of Favor
WASHINGTON POST – Dec 7 – 2018 should have been a record year for Grindr, the leading gay dating app, which touts ~27M users. Instead, the app has received backlash for one blunder after another. Early this year, the Kunlun Group's buyout of Grindr raised alarm among intelligence experts that the Chinese government might be able to gain access to the Grindr profiles of American users. Then in the spring, Grindr faced scrutiny after reports indicated the app had a security issue that could expose users' precise locations and that the company had shared sensitive data on its users' HIV status with external software vendors. Last week, news broke that Scott Chen, the app's straight-identified president, may not fully support marriage equality. In the past several years, Grindr users have widely reported that spambots and spoofed accounts run rampant. Earlier this year, a massive study by the Center for Humane Technology found that Grindr is the No. 1 app that leaves users feeling unhappy. Among its major competitors, Grindr has the lowest score on the Apple App store: a lowly two stars.
Match Group Down 10.1% Since Last Earnings Report
Momo Q3 Financial Results
MOMO – Dec 6 – Q3 revenues increased 51% YOY to $536M. Net income increased to $85.2M from $79.1M in the same period last year. Monthly Active Users on Momo app were 110.5M in September 2018, compared to 94.4M in September 2017. Live video service revenues were $406.9M in Q3 2018, an increase of 34% from $302.6M in Q3 2017.Total paying users of live video service and value-added service, without double counting the overlap, including 3.6M paying users of Tantan, were 12.5M, compared to 7.3M for the third quarter of 2017.
Paktor’s Parent Company Raises $25M
BUSINESS TIMES – Dec 6 – M17 Entertainment, the parent company of dating and networking app Paktor, has raised $25M. The cash will go towards technical upgrades and new features for M17's live content-streaming platform, said the company. It also plans to invest in recruiting, training and promoting its content producers or "streamers", and in expanding its content and services. Terry Tsang, CEO of Hong Kong game developer Madhead, led M17 Entertainment's funding this time round. Other investors included Stonebridge Ventures and existing shareholders. M17 Entertainment was formed from the 2017 merger of Singapore mobile dating app Paktor and live-streaming platform 17 Media, founded by veteran Taiwanese rapper Jeffrey Huang Li-Tchen. Paktor co-founder Joseph Phua Jiexian became the group CEO of M17. It had planned an IPO on the New York Stock Exchange in June 2018, but trading was delayed and then shelved. M17 later said that it instead turn to private fundraising for $35M.
by Annabeth Leow
See full article at Business Times
This post also appears on InternetDatingInvestments.com
Bumble’s Debut in India
Facebook Also Let Dating Apps Have Further Access to Graph API Back in 2015
ARS TECHNICA – Dec 6 – UK MP releases 250 pages of materials obtained as part of Six4Three debacle. The documents from Facebook show that the company allowed even more companies including dating apps Badoo, HotorNot and Bumble to access the v1.0 Graph API back in 2015. The documents, known as the "Six4Three files," were published by Damian Collins, a member of the UK Parliament. Collins is the chair of the Digital, Culture, Media, and Sport (DCMS) Committee in Parliament, which has been overseeing inquiries into Facebook's practices. "The files show evidence of Facebook taking aggressive positions against apps, with the consequence that denying them access to data led to the failure of that business," Collins concluded. Six4Three is a long-forgotten company that has for years pursued a lawsuit against Facebook alleging that it was shut out from being allowed to access the Graph API, as it was too small. Six4Three made a short-lived app called "Pikinis," which sought bikini photos on Facebook. It was only downloaded ~5,000 times. Lawyers for Six4Three have long argued what Collins concluded: once small apps were shut off, they were driven out of busines.
Women in Shanghai Postponing Marriage in Pursuit of Career: Report
by Zhang Dan
See full article at Global Times
The Inner Circle Never Accepts a ‘Duck Face Selfie’
INSIDER – Dec 6 – The Inner Circle is a selective dating app with 1.3M users, but they only approve half the number of people who apply. Anyone who posts a "duck face" mirror selfie will not be allowed to join elite dating app The Inner Circle, the company's co-founder David Vermeulen said. The selection process is not only down to photos, though – the team of seven dedicated screeners also look at age, profession, and education. The average Inner Circle user is 31, but most are between the ages of 25 and 45. Celebrities or models, however, may get approved even if they're in their early 20s.
by Rachel Hosie
See full article at Insider
PositiveSingles: Young Gays and Lesbians Daters With HIV Increased 1.4x
PRESS RELEASE – Dec 6 – A analysis by PositiveSingles shows that the average age of gay men and lesbian women daters living with HIV has been continuously dropping since 2011. The % of new HIV-Positive gay members age 18 – 30 has risen from 27 % to 37% in seven years. The overall number of these members represents 29% of the site's total member base. "Dating with HIV is more popular in young people than ever. Love does not know bounds, disease or sexuality," said Alex, the PR staff of PositiveSingles.com.