Month: August 2021

RealMe and IDEA Announce ‘Women in Dating’ Council

Posted on August 16, 2021

Women In Dating logoOPW – Aug 16 – A new program will bring together leading women in the dating industry to empower women in the dating industry. Here's an overview…
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"Women in Dating is a movement to empower women and forge a path for greater equity in the online dating industry. As an organization, Women in Dating brings influential industry thought leaders together to create an inclusive platform for women and women-led initiatives to be recognized and celebrated.

Women in Dating was inspired by a shared passion to elevate the online dating industry through the perspective of diverse female executives and influencers, with the goal of building core values, company cultures, and future products that align with modern needs, relationships, and lifestyles."
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Courtney Kovacevich and Jane Ramadan at RealMe are the originators and organizers of this initiative. The Internet Dating Excellence Association (IDEA) stands behind and will support this program. The Women in Dating council is forming right now and will be announced next week.

Tinder to Make ID Verification Available Worldwide

Posted on August 16, 2021

Tinder icon on mobileMASHABLE – Aug 16 – The feature – which will allow users to verify their identity by uploading a photo of documentation – will be voluntary except when mandated by law. A case of the latter is Japan, where verification of being 18+ is required to be on Tinder; this is done with a form of ID like a license or passport. Tinder's ID verification rolled out there in 2019. Now, Tinder will begin testing out the feature in other major markets. The app's Head of Trust & Safety Product, Rory Kozoll, said the company will do a test-and-learn approach to the rollout, as ID verification is complex and nuanced.

by Anna Iovine
See full article at Mashable

Mark Brooks: Fantastic news. Verifying users is core to what all (real) dating apps should be doing. Our users should have fewer surprises and more great first dates if the dating industry is to really achieve its potential. Next week I'm rolling out an analysis of service providers that help dating companies verify and authenticate and do background checks. Email mark@courtlandbrooks.com if you'd like to see an early copy.

See the top news on Tinder

OkCupid Survey: 65% Indian Daters Choose Freedom Over Money

Posted on August 16, 2021

Okcupid logo 2021IANS – Aug 14 – OkCupid asked its users what they find most liberating, and data collected based on users' responses to in-app questions suggests that 39% of users find financial freedom to be the most liberating, closely followed by 'Travel' (30%), 'Sexuality' (22%) and 'Art' (9 %). When posed with a choice between 'Freedom' and 'Money', 65% of users opted for more freedom.

See full article at Telangana Today

See the top news on OkCupid

Matrimony Reports a Strong Start to FY22

Posted on August 16, 2021

Matrimonycom logo redMATRIMONY – Aug 13 – Key financial highlights for Q2:

  • Revenue $14.2M, up 29% YOY
  • Profit After Tax $1.9M, up 47.6% YOY
  • Matrimony added 220K paid subscriptions during the Q2 (growth of 31.6% YOY)

Other highlights
During July 2021, the company signed definitive agreements to acquire a 100% stake in Boatman Tech Private Limited, promoters of ShaadiSaga.com.

See full article at Matrimony.com

See the top news on Matrimony.com

Announcing Trust & Safety Connect Event on ‘Video & Moderation’

Posted on August 13, 2021

Ltrus logoOPW – Aug 13 – Trust & Safety Connect (TSC) is on Wed 18th August starting 11am EST (New York) and for this quarterly online event we're focused on 'video and moderation.' We have a half hour of networking on virtual tables, then a 45 minute panel with three world-class panelists from Happn, Snack and DLA Piper and moderator Norman Petty, who is head of Trust & Safety at The Meet Group, and then another short networking session. 1.5 hours all-in.

If you hold a full time leadership role at an Internet dating company then you are welcome to join IDEA for free, and welcome to join TSC (and LTR) events for free. See the Trust & Safety Connect speakers and invite page here. Email mark@courtlandbrooks.com to RSVP for TSC. There are 40 places only.

Trust & Safety Connect is kindly sponsored by Women in Dating, RealMe, vPaaS by Meet Group, and Courtland Brooks

Tinder Focuses on User Well-being With Launch of ‘Safety Center’ in India

Posted on August 13, 2021

Tinder logoECONOMIC TIMES – Aug 13 – This feature will give members easy access to tools relevant to their well-being while using the platform. The goal of each local Safety Center is to centralise safety-related resources and provide avenues of support that connect members in need with relevant experts.

See full article at Economic Times

See the top news on Tinder

Spark Trading at Extreme Discount Relative to Competitors

Posted on August 13, 2021

Spark NetworksGURU FOCUS – Aug 13 – Transformation progress makes the stock a risky buy. The market is ignoring Spark's potential. The company ~1m monthly paying subs. Properties are: Zoosk, EliteSingles, SilverSingles, Christian Mingle, Jdate and JSwipe. Spark's efforts to turn itself around include a new C-level management team and R&D spending of $54mover the last 2 years for crucial product enhancements. Investments and changes will be realized in 2H 2021: live streaming video (launching Q3), social discovery functionality, improved matching algorithms, portfolio rebranded/look. Financial results were slightly down in Q4. YOY Q4 revenue decreased by $1.3 million to $56.4m because of a 3% decrease in average paying subscribers on Zoosk. The three largest legacy brands, SilverSingles, EliteSingles and Christian Mingle, grew at low double-digits in North America. Q1 2021 adjusted Ebitda was $4.8m, a decrease of $2.7m compared to $7.5m in Q1 2020, due to Zoosk and coupled with a headcount increase. Paying subscribers decreased 3% to 896,344 in Q1 2021. Monthly ARPU increased to $20.97 in Q1 2021. Spark's valuation ratios are ~90% lower than peers.

See full article at Guru Focus

Mark Brooks: Zoosk was a big pill for Spark to swallow. I trust the very considerable (former long term CEO of Criteo) Spark CEO, Eric Eichmann, and pragmatic MD/COO, Gitte Bendzulla to pull off this transformation.

See the top news on Spark Networks
See the top news on Zoosk

Bumble CEO Optimistic on Growth and Monetization of Friend-finding Service Bumble BFF

Posted on August 13, 2021

CNBC TV – Aug 13 – Whitney Wolfe Herd appeared Thursday on "Mad Money" with Jim Cramer, where she discussed the growth potential of the company's Bumble BFF offering.

See the top news on Bumble

MillionaireMatch Announces 5M Users Milestone

Posted on August 13, 2021

MillionaireMatch logoBUSINESSWIRE – Aug 12 – MillionaireMatch, a dating site for rich and affluent singles, has reached a 5M users milestone. The site launched in 2001. MillionaireMatch manually certifies all profiles and requires that income and profile photos be verified.

See full article at Businesswire

See all posts on MillionaireMatch

Bumble and Match Have Love Left to Give

Posted on August 13, 2021

Match Group vs Bumble stocksWALL STREET JOURNAL – Aug 12 – After a solid Q1, Match Group and Bumble reported Q2 earnings that topped Wall Street's expectations. But after significant gains earlier this year for both stocks, even big numbers have done little to keep the fire alive. As of Wednesday's close, Match's shares were down 7% this year, including a 12% selloff this month. And while Bumble's shares soared on their first day of trading in February, closing 63% above their offering price, they have lost 32% of their value since. Chances are, some of those losses will linger. In part because of Covid-19's impact, Match's Q3 revenue guidance last week came in slightly below analysts' forecast, excluding Hyperconnect. Bumble's guidance looked solid for the Q3. Full-year guidance shows both companies expect the period to end on a high note.

by Laura Forman
See full article at Wall Street Journal

See the top news on Match Group
See the top news on Bumble