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Month: December 2021

Matter, a New Audio-First Dating App

Posted on December 3, 2021

Matter iconDAILY TROJAN – Dressed in red jumpsuits and mesh masks resembling the costumes in Netflix's series "Squid Game," promoters handed out brown business cards with a QR code to "USC Date Game," by Matter. Students went on audio blind dates only open to other students at their university. Matter was created by USC alumnus Monji Batmunkh. Matter was originally intended as a "clubhouse" focused on networking and friendships based on their shared interests. Batmunkh pivoted to dating. Users immediately talk after "liking" each other on the app by recording 10-second audio introductions. Profile pics gradually unblur. Following the reveal, users have the option to send a like or not.

by Grace Galante
See full article at Daily Trojan

Mark Brooks: Audio is played a backseat role in dating for too long. Using audio is a simple way to move beyond looks-based swiping and let people discover their fellow humans. We are so much more than our looks. But looks entirely bias users, and create an unsustainable economic imbalance in dating apps.

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Bumble Has Surpassed $1B in Global Consumer Spend According to App Annie

Posted on December 2, 2021

Bumble logo wide 2021PR NEWSWIRE – Bumble is the #2 dating app by lifetime spend and the highest ranking dating app that prioritizes women making the first move. The company went public in February 2021. The top markets contributing to its lifetime consumer spend include US, UK, Canada and Australia, but also India, Mexico which are high-growth markets on mobile overall and represent strong future potential for user acquisition growth. The full list of apps in the billion dollar club include: Tinder, YouTube, Netflix, Tencent Video, TikTok, iQIYI, Pandora Music, LINE, Disney+, HBO Max, BIGO LIVE, Google One, LINE Manga, piccoma and Youku.

See full article at PR Newswire

See the top news on Bumble

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Ex-Facebook Exec, Venture Capitalists Lose Appeal Over Secretive Tinder Sale

Posted on December 2, 2021

Lawsuit picGLOBE AND MAIL – An Ontario judge has dismissed appeals by a former Facebook executive and two Toronto venture capitalists to overturn a 2019 decision that found they owed more ~$15M in damages and lost profit to the investors' former business partners after the sale of a company that held an interest in Tinder. Justice William Hourigan took the original Superior Court of Justice decision further, ordering that the appellants pay the entire $29.5M profit from the sale, plus costs and interest, to the venture capitalists who successfully beat the appeal. In 2012, Extreme Venture Partners sold a software company called Xtreme Labs to Chamath Palihapitiya, a Silicon Valley investor and former Facebook executive, valuing the company at $18M. At the time, Xtreme Labs had a 13% stake in another company called Hatch Labs – which had developed a dating app called Tinder. Court filings show that two principals of Extreme Venture Partners, Amar Varma and Sundeep Madra, kept an interest in Xtreme Labs after the 2012 sale. Mr. Varma, Mr. Madra and Mr. Palihapitiya later sold Hatch Labs to an American company in 2014 for $29.5M.

by Josh O'Kane
See full article at Globe and Mail

See the top news on Tinder

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MatchMde to Offer Biocompatibility Matching

Posted on December 2, 2021

MatchMde logoMALAYSIAKINI – Leading Southeast Asia genomics company, Malaysian Genomics Resource Centre Berhad (Malaysian Genomics) is partnering with matchmaking platform, MatchMde, to roll-out Southeast Asia's first biocompatibility relationship matching service. Malaysian Genomics-MatchMde's biocompatibility matching involves measuring the dissimilarity of certain genetic traits between two people. The more different the genetic results are, the better the biocompatibility.

See full article at Malaysiakini

See the top news on MatchMde

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Bumble Cofounder Whitney Wolfe Herd No Longer a Billionaire as Shares Plunge

Posted on December 2, 2021

Bumble Whitney Wolfe HerdFORBES – A steep drop in Bumble shares since the dating app owner's quarterly earnings call on Nov 10 has knocked the fortune of CEO Whitney Wolfe Herd – previously the world's youngest self-made woman billionaire – below $1B, Forbes calculates. The 32-year-old Wolfe Herd was worth ~$940M at Monday's closing price of $35.03 per share. Her net worth has fallen by ~$200M since Q3 earnings were released three weeks ago, as Bumble stock has tumbled by 26%. Wolfe Herd has a 21% stake in the company. Bumble is far from the only company to struggle after its IPO. An analysis published Sunday by the Financial Times found half of the companies that raised $1 billion at IPOs this year are trading below their listing prices.

by Jemima McAvoy
See full article at Forbes

See the top news on Bumble

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Gamified Dating App XOXO Enters the US Market

Posted on December 2, 2021

XOXO iconGRIT DAILY – XOXO is a new gamified dating app. Launched in July 2021, it has reached ~100K downloads on App Store and Google Play and claims 35K monthly active users. Earlier this year, the company closed its Series A financing, having raised $5M.

See full article at Grit Daily

This post also appears on InternetDatingInvestments.com

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Podcast With Coffee Meets Bagel’s co-Founder

Posted on December 1, 2021

FOX NEWS RADIO – This week, Liz Claman is joined by the co-founder of dating app Coffee Meets Bagel, Dawoon Kang, to discuss how she went from Korean immigrant to a successful entrepreneur. Dawoon shares how challenging it was to assimilate into a new country and culture. She also explains how she faced adversity to build a new dating app focused on long-term relationships.

See full article at Radio NB

See the top news on Coffee Meets Bagel

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Thanks to Our Sponsors

Posted on December 1, 2021

Sponsors December 2021

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Match Settles for $441M in Valuation Case

Posted on December 1, 2021

Lawsuit settlementSEEKING ALPHA – Tinder's co-founder and eight current and former execs sued Match and IAC for $2B in damages in 2018 alleging the valuation of the company was manipulated during a 2017 bank analysis that set the value for stock options. Match Group has agreed to pay plaintiffs $441M cash and will dismiss all claims presently on trial and in arbitration related to the 2017 Tinder valuation. Match rose 1.4% in premarket trading.

by Joshua Fineman
See full article at Seeking Alpha

See the top news on Match Group
See the top news on Tinder

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