by James Wilson
See full article at NewsTalk
Month: August 2022
Announcing Trust & Safety Connect Event on ‘Looming Legislation’
OPW – Trust & Safety Connect (TSC) is on Wed 17th August starting 11:30AM EST (New York), and for this quarterly online event we're focused on 'Looming Legislation'. What you need to know about the legislative update for Trust & Safety. We have a half hour of networking on virtual tables, then a 50 minute panel with two world-class panelists from ODA (Online Dating Association) and RealMe, and moderator Norman Petty, who is head of Trust & Safety at The Meet Group. 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 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 RealMe, vPaaS by Meet Group, FaceTec, OneRep and Courtland Brooks
Tinder to Kill Virtual Currency, Management Changes
TECH CRUNCH – Match Group announced a series of changes to Tinder's management team alongside the announcement of disappointing Q2 earnings. Notably, Tinder CEO Renate Nyborg will be departing the company after less than a year in the top job. Match Group is also killing Tinder's plans to adopt new technology, like virtual currencies and metaverse-based dating. Alongside the departure of Nyborg, Tinder will have a reorganized management team that also includes:
- Faye Iosotaluno, formerly Match Group's chief strategy officer, as Tinder's COO
- Mark van Ryswyk, as Tinder's chief product officer.
- Melissa Hobley, formerly OkCupid's CMO, as Tinder's CMO.
- Tom Jacques, as Tinder's chief technology officer.
- Advisor Amarnath Thombre. The current CEO of Match Group Americas and 15-year Match Group veteran will advise the Tinder management team on product roadmap and growth.
Match Q2 Results
MATCH GROUP – Total Revenue grew 12% YOY to $795M. Operating loss was $10M driven by a $217M impairment of intangibles relating to the Hyperconnect acquisition. Operating income was $286M, up 9% YOY. Payers increased 10% to 16.4M, up from 15M in the prior year quarter. Tinder direct revenue grew 13% YOY. All other brands collectively grew direct revenue 12% YOY.
Dating News Headlines: Match Group, Tinder, Frolo, Thursday
Quick links to today's dating news headlines
- Tinder to Kill Virtual Currency, Metaverse Plans Amid Match Group Earnings loss; Tinder Loses Its CEO – Tech Crunch
- New App Launches to Simplify and Organize 50M Dating App Users – PR Newswire
- Dating App for Single Parents Is a "No Brainer", Says Creator – NewsTalk
- George Rawlings and Matt McNeill Love: Founders of Thursday (Interview) – Business Leader
TikTok-style Dating App Desti Filters Matches by Date Destinations
TECH CRUNCH – Desti is a new video-focused dating app that allows users to find matches based on a preferred date destination. The app launched in Austin, Texas. Desi doesn't have a "like" feature, so people are forced to start conversations. Users can send a message to a person, and the receiver can accept or reject the message. They can only see one at a time and must pass or reply to the message to move on to the next. There is also a friend version of the app called Besti, which is currently in beta. The company raised $1M at $5M valuation.
The Dalai Lama on Leadership
See the full summary on the Courtland Brooks blog here.
Mark Brooks: Leaders in the dating industry have even more considerable impact. Please comment on this Swellcast. We'd love to hear your thoughts.
How an Indian Woman Revolutionised the Way Couples Hook up
THE WEEK – Shar Dubey was CEO of Match Group. She stepped down in May but continues to be director and adviser. Raised in Jamshedpur, she was the only woman to be accepted at the Indian Institute of Technology (IIT). She then pursued a master's degree at Ohio State University and she became the first woman engineer and the first foreigner to be hired by a Pennsylvanian aerospace manufacturer. When Mandy Ginsberg called her in 2006 looking for someone to manage Chemistry, she had never laid a finger on a dating website. And yet she decided to apply. Mandy and Shar formed a duo that would last for ~15 years. Dubey strongly contributed to the transformation of Tinder into a cash machine.
Newborn Town to Finish Privatizing BlueCity
PANDAILY – The privatization of LGBTQ platform BlueCity is nearing completion. It will be controlled by Metaclass Management, a fund owned by Chinese social networking product developer Newborn Town. The buyer group includes Metaclass Management, BlueCity's founder Ma Baoli, and CDH Investment. According to the agreement, BlueCity will be acquired for $3.20/share and the transaction valuation is $60M. BlueCity's operating income in 2021 was $169M.
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