TNN – Jan 14 – Virtual dating is the new norm in India, according to Bumble's recent nationwide survey. After connecting with people virtually, 83% of single Indians are comfortable to meet up in-person. The study also reveals that 40% of single Indians will opt for virtual dating in 2021.
Month: January 2021
Bumble Files to Go Public
TECH CRUNCH – Jan 15 – Bumble plans to list its share on the Nasdaq stock exchange, using the ticker symbol "BMBL." Bumble's planned IPO was first reported in December. You can read its IPO filing here. Bumble claims 42M monthly active users as of Q3 2020 with 2.4M paying users. The company reports revenue of $417M in the first 9 months of 2020 and net income of (-$117M). If you extrapolate Bumble's Q1, Q2, and Q3 revenue to a full-year number, the company could manage $555.5M in 2020 revenues. However, its sharp unprofitability in 2020 could damper its eventual valuation.
by Alex Wilhelm
See full article at Tech Crunch
This post also appears on InternetDatingInvestments.com
Bumble Temporarily Removes Politics Filter
INDEPENDENT.CO.UK – Jan 14 – Bumble has temporarily removed its politics filter "to prevent misuse" in response to tweets encouraging users to change their political view to conservative in an attempt to match with and identify Capitol rioters. Bumble has previously said that it had begun taking action against profiles promoting involvement in the riots.
More Young Indonesians Skip Dating, Go Straight to Marriage
WALL STREET JOURNAL – Jan 14 – Dating still remains the main method of courtship for young Indonesians. Dating apps such as Tinder are popular in large cities like Jakarta, and a 2017 government survey found that two-thirds of Indonesians aged 15 to 24 have dated. But many Islamic figures say it encourages young men and women to engage in premarital sex, which is forbidden in Islam. Some couples chose a speedy marriage, with much of the getting-to-know-each-other process occurring after the wedding. The practice is known as "taaruf." Taaruf differs from arranged marriages, as it is often initiated by young people themselves rather than their families. There are even online taaruf apps, such as Taaruf Online Indonesia which currently has 18K active users.
IAC, Barry Diller Targeted by Pension Fund Over Match Spinoff
BLOOMBERG LAW – Jan 13 – A pension fund sued Match Group Inc.'s board, former controlling stockholder IAC/InterActiveCorp, and billionaire businessman Barry Diller, claiming Match Group's spinoff last year left it saddled with billions in debt and IAC "flush with billions in cash."
App Annie State of Mobile 2020 Report
APPANNIE – Jan 14 – According to App Annie's annual "State of Mobile" industry report, mobile app downloads grew by 7% YOY to $218B in 2020. Consumer spending grew by 20% to $143B, led by markets that included China, the United States, Japan, South Korea and the United Kingdom.
The Next LTR Online Conference
OPW – Jan 15 – LTR stands for Love, Technology, Relationships and is the dating and online social community industries online version of TED. This is where we meet, learn, and share.
LTR4 is on Thursday 21st January starting 11:30am EST. We have three world-class speakers. An inspirational speaker on collaboration, a speaker covering neuromarketing, and a niche industry upstart to help you think different. Plus two ~half hour networking sessions.
See the invite and online conference overview page
If you hold a full time leadership role at an Internet dating company then you are welcome in IDEA.gp, and are very welcome to join this event for free. Email mark@courtlandbrooks.com to RSVP and get your unique entry code. There are 75 places only.
Tinder Makes a Pivot in Thailand as a Social App Beyond Dating
BRANDING IN ASIA – Jan 14 – Tinder has launched a new campaign in Thailand aiming to reposition the brand as a social app beyond dating. For years, Tinder had been established as a dating app with a stereotype of finding one-night stands and friends with benefits. This reputation posed a challenge for recruiting new users in Thailand, where a research showed that Gen Z is the most likely group to quit the app within one week for not wanting to participate in hookup culture. The agency came up with the idea "Friends with (Other) Benefits", or in Thai "Puen Sampan" which twists the word for "sex" into a brand new word for "friendship". In less than one week, the launch film received ~9M views and the campaign line "Puen Sampan" started trending on social media.
Match Stock Upside Expected as Covid Vaccines Drive In-Person Dating Rebound
INVESTORS.COM – Jan 14 – Match stock should be a big reopening beneficiary as coronavirus vaccinations gain traction globally and the company rolls out new products, analysts say. Match stock gained 83% in 2020. Amid the coronavirus pandemic, Tinder launched video chat services for stay-at-home users. After Q3 earnings, shares hit an all-time high of 159.53 on Dec. 17. "For 2021, we believe new products catalysts (Tinder Platinum, live video, Swipe Night) and higher willingness to date in-person will likely drive an acceleration in revenue growth," said Jefferies analyst Brent Thill.
SeekingArrangement Helps Students Avoid Student Debt
