Month: May 2023

Tinder Releases Future of Dating Report 2023, Study Reveals Gen Z Challenging the Way We Date

Posted on May 24, 2023

Tinder Future of Online Dating 2023FIRST POST – Tinder has released its Future of Dating Report 2023. It reveals that Gen Z (18-25-year-olds) are challenging the traditional methods of dating. They are finding ways to look for a potential partner that no previous generation has done before.

Key higlights:

  • 55% of users came into a relationship after they met someone through Tinder.
  • 37% knew someone who started their relationship after they found a match on Tinder.
  • The 'top green flag' for a relationship for people aged 18-24 is when they are being themselves with their match.
  • Personal growth and mental well-being for 39% was the top priority in terms of goals for the next 3-5 years. Notably, 75% found the partner more attractive if they also prioritise mental well-being.
  • 34% of members used AI to improve their dating profile.
  • As many as 61% of young singles were open to multi-cultural relationships and interracial marriage.

See full article at First Post

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Bumble’s Successful Growth Strategy

Posted on May 24, 2023

Bumble Anu SubramanianFORTUNE – Anu Subramanian, the CFO of Bumble, emphasizes that all employees must use the Bumble app to fully understand its operations, as it's the company's main product. Subramanian, who joined Bumble in 2020, has a career background at the intersection of media and technology. Bumble's Q1 2023 report shows a revenue growth of 25.9% to $194.3M and an increase in paying users by 31% to 2.3M. The company's focus is on optimizing the user journey to convert users to paying customers and adding new features like "compliments" to drive engagement. Subramanian believes that women making the first move is one of the app's unique features and notes that, despite economic challenges, people continue to invest in finding relationships.

by Sheryl Estrada
See full article at Fortune

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Grindr Wants to Be More Than a Sex App

Posted on May 24, 2023

Grindr health initiativesHIV PLUS MAGAZINE – Grindr is implementing a new initiative, Together TakeMeHome, promoting sexual health in the LGBTQ+ community. This feature allows users to order free, at-home HIV tests. The project is a collaboration with leading health institutions, including Emory University and the CDC. With the click of a button, US users can order an OraQuick kit, an FDA-approved test, delivered to their homes within three to five days. The program has already distributed 125K HIV test kits and received ~10K orders on its launch day.

by Desirée Guerrero
See full article at HIV Plus Magazine

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Match Group Shares Rise 6.6% as Meta Exec Named Product Chief of Hinge

Posted on May 24, 2023

HingeMARKETWATCH – Match Group shares rose 6.6% to $33.93, making it the biggest gainer in the S&P 500 as measured by percentage change. Match Group named Stéphane Taine as CPO of Hinge. He previously served as head of product management for Messenger at Meta Platforms. His experience at the Facebook parent company included product launches for group video chat and augmented reality effects. Direct revenue from Hinge rose 27% YOY in the latest quarter due to double-digit payers and revenue per payer growth.

by Denny Jacob
See full article at Marketwatch

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Gen Z Trends: DOWN Dating App Founder Shares Insights

Posted on May 24, 2023

DOWN Colin HodgeFORBES – DOWN Dating App founder Colin Hodge highlights Gen Z's preferences for quick, curated digital interactions and privacy. The app responded to these needs by improving its user experience and privacy measures, significantly increasing Gen Z engagement. Gen Z grew up connected online, and its members are accustomed to quickly processing huge amounts of information to find what they want. They want to get the information really quickly. "In the next five years, I suspect we'll see more and more pieces of dating apps automated," he says. "Imagine a profile almost entirely built using your content from other media, automatically selecting the most appealing photos, videos, even your bio." Concurrently, Gen Z's penchant for privacy While encouraging a private, safe environment, DOWN aims for a multi-platform verification standard, boosting user confidence.

by Jeff Fromm
See full article at Forbes

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Match Group Scheduled to Participate in TD Cowen’s Technology, Media & Telecom Conference

Posted on May 24, 2023

Match GroupBOLLYINSIDE – Match Group's President & CFO, Gary Swidler, will present at the TD Cowen 51st Annual Technology, Media & Telecom Conference on June 1 at 10:50 AM EST. A live webcast and replay of the presentation will be available at https://ir.mtch.com/news-and-events/events. The TD Cowen 51st Annual Technology, Media & Telecom Conference is a gathering of industry leaders and investors to discuss trends and opportunities in the technology, media, and telecom sectors.

by Delia Reynolds
See full article at Bollyinside

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Bumble Acquires Official, an App That Helps Couples Strengthen Their Relationship

Posted on May 22, 2023

Official logoFAST COMPANY – Bumble has acquired Official, an app designed to strengthen relationships for couples. Official offers features such as mood check-ins and date planning to help couples build stronger connections. This acquisition is part of Bumble's broader strategy to enhance the overall "ecosystem of love," which includes various stages of relationships from friendships to long-term partnerships. With Official's presence in over 45 countries and a user base of ~368K couples, Bumble aims to provide comprehensive support and resources for couples to nurture and deepen their relationships. Official will continue as a standalone app though Bumble says there are opportunities for Official and Bumble to collaborate.

by Jessica Bursztynsky
See full article at Fast Company

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This post also appears on InternetDatingInvestments.com

Couple.com Is Announcing the Million-Dollar AI Dating App Challenge

Posted on May 18, 2023

Couple.com Million Dollar ChallengePRESS RELEASE – Couple.com, the video-date platform that connects singles worldwide, is launching the Million-Dollar AI Dating App Challenge. This competition invites visionaries, developers, and entrepreneurs to present their AI-based dating app ideas. The winner will receive a $1M investment, with Couple retaining a 10% interest in the venture. Alongside the investment, the winner will gain valuable mentorship, resources, and industry exposure to support their success. Submissions will be judged based on innovation, market potential, AI concept, user experience design, and execution capabilities. The deadline for submissions is 7/5/2023, and the winner will be announced on 8/15/2023. For more information and to participate, visit couple.com/milliondollarchallenge.

See full article at Ein News

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Grindr Inc. Reports First Quarter 2023 Earnings Results

Posted on May 17, 2023

Grindr logo for social mediaPRESS RELEASE – Grindr reported a revenue of $55.8M, up 28% YOY. Gross profit grew to $41M, up 29% from the prior year. However, operating expenses increased by $9.4M, and operating income was $8.6M. The net loss for Q1 was $32.9M, primarily due to factors such as loss on fair value measurement, an income tax provision, and net interest expense. The Average Paying Users increased by 20% YOY, and the Average MAU reached 12.8M, a 9% growth.

See full article at Grindr website

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Bumble Updates Spotify Feature to Encourage Musical Compatibility

Posted on May 17, 2023

Bumble integrates SpotifyMASHABLE – Bumble has updated its Spotify feature to enhance musical compatibility among users. With this update, users can share their "Top Artists" with potential matches, making it easier to identify common interests. Since 2016, Bumble has offered Spotify integration, and a majority of U.S. users have linked their accounts. The feature is particularly popular among Gen Z users, and those with linked accounts are more likely to receive right swipes.

by Anna Iovine
See full article at Mashable

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