OPTO – The Tinder Swindler story highlighted the urgent need for greater transparency in order to protect users. In 2020, romance scams accounted for a total loss of ~$304M, up 50% from 2019. A month after the documentary's release, Match Group announced plans to launch background checks on Tinder in partnership with the National Domestic Violence Hotline and Garbo. The news was received well: the group's stock climbed 12.8% on the day of the announcement. While investors have fallen out of love with subscription-based tech stocks, with Match Group down 42% year-to-date, a rising trend in introducing safeguarding features to protect users has taken off. Bumble announced that it is working with trauma support website Bloom to provide free support for women who report physical or emotional abuse. Bumble makes clear that developing a secure environment is front of mind.
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