PR NEWSWIRE – CEO Chelsea Grayson has also announced her acceptance of the board's request to serve as Spark's permanent CEO. The company plans to focus on improving profitability through cost efficiency and increased Adjusted EBITDA margins. Grayson outlined several initiatives to achieve this, including solidifying a diversified core of meaningful brands, reallocating capital to more profitable marketing channels, and using the company's net operating losses to minimize taxable income. Q4 revenue was $41.6M, compared to $52M in Q4 2021. Net loss for Q4 was $17.2M, while full-year 2022 revenue was $187.8M, compared to $217M in 2021.
Month: April 2023
QuackQuack CEO Ravi Mittal Honored at Times 40 Under 40
PTI – Ravi Mittal, Founder and CEO of QuackQuack, was honored at the Times 40 Under 40 event held in Bengaluru on March 24, 2023. The event recognized young entrepreneurs, leaders, and change-makers for their significant contributions in their fields. QuackQuack is a popular dating app in India with ~22M registered users. The app focuses on providing users with genuine profiles through a 12-step verification process and robust security measures. Initially targeting tier 1 cities, QuackQuack has expanded to serve tier 2 and 3 cities, where users seek genuine friendships in addition to romantic relationships. The platform has experienced rapid growth in recent years, adding 10M users in the last two years alone.
Tinder Bans Photos of Men Holding Fish
PAPERMAG – Tinder has decided to address the peculiar “fish pic” phenomenon by announcing a ban on photos of men posing with fish. The trend, which primarily affects male users, has been an oddity on the dating app since its inception. Tinder reports that 92% of users are put off by these fish pics. Starting April 1, any photos violating this rule are expected to be removed, making Tinder the first “fish-free” dating app. Tinder’s Head of Community Pictures, Sal Mon, stated that they are always listening to their members and that the fish pic trend needs to be addressed to improve the user experience.
