TECH CRUNCH – Oct 13 – Bumble is expanding its C-suite with two new hires: Anu Subramanian as Bumble's CFO, who hails from Univision, and Selby Drummond as chief brand officer, who is joining from Snap. Bumble can now claim it has equal male-to-female representation across its C-suite. According to reports, Bumble hit 100M users this summer and is preparing to IPO in 2021, possibly at a $6B-plus valuation.
Month: October 2020
Tinder Accused of Ignoring Reports of Rape
NEWS.COM.AU – Oct 13 – Australian women have claimed sexual predators and abusers are exploiting Tinder to find their victims, then using the app’s design features to disappear without a trace. Match Group has also been accused of largely ignoring victims when they come for help, according to an ABC investigation. On Tinder, unmatching is supposed to give people a way to ghost on someone who is being annoying or making them uncomfortable, but US dating app industry consultant Steve Dean says unmatching meant “someone can simply escape their bad behaviour by blocking the person they just abused”.
See full article at News.com.au
Watch the Four Corners Video:
Mark Brooks: There’s some opportunities for the industry to improve. One thing I’d like to see is that we standardize on fast-track police contact info. i.e. everyone should set up police@meetme.com etc.
Tinder Gets Embroiled in Protest Efforts in Thailand
In Pakistan, Shame Makes Online Dating a Challenge
AGENCE FRANCE-PRESSE – Oct 12 – Many women use anonymous online dating profiles out of fear of being harassed in a country where arranged marriages are the norm. Pakistanis who use dating apps regularly face harassment and judgmental relatives. In the self-proclaimed "Land of the Pure" – where sexual relations outside marriage, and homosexuality, are punishable with prison sentences – dating culture is unfamiliar. Authorities in September banned Tinder, Grindr and other popular apps for failing to "moderate" their content. "Banning these dating apps is a way to preserve our traditions," said a 50-year-old matchmaker based in Karachi who has been helping families find suitable partners for arranged marriages for over a decade.
Joseph Phua of M17 – “Companies Shut Down When Founders Give up”
E27 – Oct 8 – Just out of a very long relationship, Joseph Phua wanted to create an online platform to meet new people. It was back in 2013. Paktor, the app he launched in 2013, is now the largest dating app in Southeast Asia. Paktor has raised ~$52M and acquired five companies, before being merged with Taiwan's M17 Media to form M17 Entertainment. In May this year, Kollective Ventures acquired Paktor Group from M17 Entertainment. Phua recently stepped down as the CEO of M17 Group to assume the role of Chairman. "We faced many challenges with regards to fundraising, finding a sustainable business model, expanding globally, overcoming cultural differences and learning about the different markets", he says. "We expanded into eleven markets but it was expensive. We realized it was a mistake. There were several situations wherein we ran out of money but we never thought of shutting down. A company itself is a shell; what gives life to it are the ideas and the beliefs behind it. You can always pivot. Over our seven years of existence, we have pivoted many times. We first laid-off employees in 2013 and then again in six months after we expanded into 11 markets. We had to let go of 70-80 people. Then we had to move from being a free service to a paid one. Three key things that I learned trying to get out of the difficult situation:
- It is always going to be the darkest just before light.
- Running a business is all about its people. You must know how to lead like a person.
- Be grateful for everything you have. If you keep comparing and keep looking at what you don't have, then you will kill yourself.
Mobile App Usage up 25% in Q3
FOX BUSINESS – Oct 8 – Mobile app usage surged 25% in Q3 as people continue to work and find entertainment online during the coronavirus pandemic, according to App Annie. Google Play downloads increased 10% YOY to a total of 25B while iOS App Store downloads increased 20% to a total of 9B. The top most-downloaded apps were TikTok, Facebook, WhatsApp Messenger, Zoom, Google Meet, Instagram, Facebook Messenger, Snack Video, Telegram and Snapchat. Apps that received the most consumer spend include Tinder, TikTok and YouTube. Consumer app spending also reached record highs amid COVID-19. On the App Store, spending increased 20% YOY to $18B in the Q3, and spending on Google Play grew 35% YOY to $10B.
by Audrey Conklin
See full article at Fox Business
This post also appears on VerySocialNetwork.
The Meet Group Teams With ConnectSafely for Safety Education
BUSINESSWIRE – Oct 8 – ConnectSafely is a nonprofit organization dedicated to educating users about safety, privacy, and security. "Educating our members about how to date safely is core to our safety initiatives", said Geoff Cook, CEO of The Meet Group.
More Singles Are Fast Tracking New Relationships
NEW YORK TIMES – Oct 8 – Americans are dating with an intention that some experts say that they haven't seen before. Many experts, along with daters themselves, say that daters have become more likely to couple up, to lower their standards and to do what they can to find a partner to face whatever comes next. Hinge's surveys indicate that 69% of the app's users are "thinking more about who they're really looking for" and 50% say they are "no longer chasing after people who aren't interested in them." A survey of 2K dating app users Match conducted between July and August, showed that 59% of daters were considering a wider range of people as potential partners and that 55% were fast tracking new relationships more than before the pandemic.
by Jonah Engel Bromwich & Sandra E. Garcia
See full article at New York Times
Lockdown Loneliness Leads to 600 Reports of Online Dating Fraud a Month
SKY NEWS – Oct 9 – ~600 reports of romance scams per month were made to UK Action Fraud during June, July and August. Police forces and other organisations are running a campaign throughout October to raise awareness of romance fraud, following a 26% increase in reports to Action Fraud in the past year. The average victim loses ~ £10K. Losses reported by victims between August 2019 and August 2020 totalled £66M. The Match Group is running romance fraud protection ads throughout October on their platforms. City of London Police is also working with money transfer companies to help block transfers suspected of being linked to romance scams.
Tinder Launches Its Election Center and Voting Stickers
TINDER PRESSROOM – Oct 2 – Tinder is rolling out its Election Center, where members can access a suite of helpful voter turnout tools. Users can also add stickers to their profile, to further spread the word on the importance of voting this season.