Quick links to today's dating news headlines.
- Match, Bumble Fight the Ick – Wall Street Journal
- Three AAPI Founders Building Apps on the App Store That Cultivate Community – Apple
- China's Singles Agree: Age Matters – Sixth Tone
Month: May 2022
Bumble Q1 Results: Bumble Revenue up 38%
BUMBLE – Total Revenue increased 23.7% to $211.2M compared to $170.7M. This includes an unfavorable impact of $5.1M from foreign currency movements YOY. Bumble App Revenue grew 38% to $155.4M. Badoo App and other revenue, including Fruitz which was acquired in January 2022, declined 4% to $55.8M. Total Paying Users increased to 3M. Net earnings were $23.9M.
Match Group Law Chief Pay Soared as Company Prepped Google Suit
BLOOMBERG LAW – Match Group gave its chief business affairs and legal officer a more than four-fold pay boost as the company prepared an antitrust lawsuit against Alphabet Inc.'s Google that was filed this week. Jared Sine received ~$16.9M in total compensation last year, including a stock award valued at ~$15.6M, a $500K base salary, and a $900K bonus, the company disclosed in a proxy filing. He received ~$3.6M in 2020. He joined Match as its general counsel in 2016, became legal chief four years later, and took on the additional business affairs title in 2021.
Exclusive Dating App Lox Club Launches in Austin
CULTURE MAP AUSTIN – Lox Club, born during the pandemic, made its Texas debut during South by Southwest after successfully building hubs in New York, Los Angeles and Miami. It calls itself an "app for Jews with ridiculously high standards." Although it doesn't share an acceptance rate, app store reviewers speculate most people are accepted. Rejected applicants go back on a waiting list to be re-reviewed later. From there, members get 10 to 15 swipes per hour, and help from a matchmaker on staff if they ask for it.
Dating News Headlines: Bumble
Quick links to today's dating news headlines.
- Bumble Inc. Announces First Quarter 2022 Results – Bumble website
Dating News Headlines: Match Group, Tinder
Quick links to today's dating news headlines.
- Match Group Law Chief Pay Soared as Company Prepped Google Suit – Bloomberg Law
Match Group Sues Google Over ‘Monopoly Power’ in Android App Payments
TECH CRUNCH – The lawsuit, filed Monday in California's Northern District, accuses Google of deploying "anticompetitive tactics" to maintain a monopoly on the Android mobile ecosystem. Match's lawsuit is the latest instance of app developers demanding relief from Google and Apple over the 30% standard cut – now, sometimes 15% – that those tech giants extract from in-app payments. Google dismissed the new Match lawsuit as a "self-interested campaign" to avoid paying its fair share.
Dating News Headlines: Lox Club
Quick links to today's dating news headlines.
- Exclusive New York Dating App Lox Club Brings Matchmaking Magic to Austin – Culture Map Austin
Grindr to Go Public in $2.1B SPAC Deal
REUTERS – Grindr will go public through a merger with a blank-check acquisition firm – a deal that values it at $2.1B and features Tiga Investments CEO Raymond Zage on both sides of the transaction. Grindr said its existing shareholders would own 78% of the company after the merger, which comes two years after China's Kunlun Tech divested it for $620M due to U.S. national security concerns. While Grindr did not disclose the identities of its existing shareholders, Reuters previously reported that Zage had a 41% stake in the consortium that acquired Grindr. Zage continues to be an investor in Grindr. Tiga Acquisition, the Singapore-based special purpose acquisition company (SPAC) that will merge with Grindr, is controlled by Zage. Under the deal, Grindr will receive $284M in cash from Tiga and up to $100M in a forward purchase agreement.
Dating News Headlines: Grindr, Match Group
Quick links to today's dating news headlines.