PR NEWSWIRE – Colleen Birdnow Brown, Interim CEO of Spark Networks, said: "Spark has embarked on a transformational plan intended to drive the Company forward with revenue growth as well as improved margins, Adjusted EBITDA and cash flow. We reduced our user acquisition spend during the quarter by 43% as compared to the second quarter of 2022. In addition, we also reduced our operating expenses during the quarter by 16% year over year, primarily by reducing headcount and renegotiating vendor spend. With these cost reductions, we increased Adjusted EBITDA by $8.9M compared to the Q2 of 2022." Revenue was $41.2M, compared to $48M in the Q2 of 2022. Net loss was $26.9M, compared to $8.8M in the Q2 of 2022. Adjusted EBITDA was $7.2M, compared to $(1.7)M in Q2 2022.
Month: August 2023
Internet Dating Jobs Listing Update – August 2023
OPW – The new Internet dating jobs listing is live on the Internet Dating Jobs blog.
Below see a couple of this month's most interesting offers:
Together Light
Entrepreneurial Exec in Marketing/Tech
Bumble
Director of Safety & Integrity Operations
Grindr
Director of Accounting
Hinge
VP of Artificial Intelligence
Match Group
Head of Product, The League
Reflex Media
Vice President of Product
Scruff
Director of Product Management
Tinder
VP Product, Core Experience
To see more open positions go here.
Do you have an idating industry job offer which is not included? Please, send it to tips@onlinepersonalswatch.com and we will add it to the list.
IDEA Summit Iceland
OPW – The Reykjavik, Iceland IDEA Summit (See event details & speakers) at Smitten HQ was last week. Here's a word from our esteemed host, CEO of Smitten, David Simonarson (bio).
The IDEA Summit held at Smitten's HQ in Reykjavik was an unforgettable gathering. As a host, I was inspired by the innovative ideas and passionate discussions among the leaders of the Internet dating industry. The spirit of collaboration and the shared vision for improving our apps and communities have left a lasting impression on me. I look forward to what the future holds for this remarkable group. Thank you to everyone who participated, and to Mark Brooks and the IDEA team for helping make this event a success. – David Simonarson, CEO, Smitten
Our next gathering is in partnership with the investment bank and analysis company Evercore ISI, in Manhattan on September 28th. This is by invite only for top-flight CEOs of dating companies. We're enabling them to meet each other to learn and share and also connect with analysts at investment companies: PE, hedge funds, etc.
Email mark@courtlandbrooks.com to apply to join IDEA (free) and to be added to LTR's invite list and be considered for the IDEA Summit IRL events.
IDEA leadership events are kindly sponsored and made possible by LiveBox by The Meet Group, and enabled and arranged by the dating business agency-consultancy Courtland Brooks.
Hinge Is Hiring a VP of AI
BUSINESS INSIDER – Hinge is hiring a VP of artificial intelligence (AI) to lead its transition to an "AI-First company." The role, based in New York, offers a salary between $332K to $398K annually and requires an advanced degree in a related field plus tech leadership experience. This individual will work on developing AI features, ensuring ethical AI practices, and defining the company's AI goals. This move by Hinge aligns with the broader trend of incorporating AI into dating apps to enhance user experiences.
Switch Is a New Audio-Driven Dating App for Authentic Connections
THE ATLANTA VOICE – Corey Staples and Kiana Mincey, childhood friends, co-founded Switch, an audio-based dating app that emphasizes genuine conversations over superficial interactions. Inspired by the audio platform, Clubhouse, they aim to offer an authentic alternative in the dating app market, distinguishing themselves from established apps like Tinder and Hinge.
Online Personals Watch Has a New Tagline
OPW was started in June 2004 and has been faithfully serving up the news daily (with the same team!). We do more than news summaries. We have more than 200 CEO interviews on OPW now. Also, we've evolved to also run a monthly online conference called Love, Technology, Relationships, which you can see at www.LTR.us and a by-invite leadership conference called IDEA Summit. So it seems fitting we should update the tagline of OPW. We've updated the tagline to "Top News, CEO Interviews & Leadership Conferences".
Google Pushes Match for More Money in Antitrust Battle
TECH CRUNCH – Google has filed a new motion to the court in its antitrust battle with Epic Games and Match Group, where it claims that Match Group owes additional fees beyond the $40M that had been previously set aside in escrow. Those funds are Google's cut of Match's in-app payments on Google Play that Match argues are "illegal under federal and state law" – something the court case will decide. By Google's calculations, the new figure should total ~$84M instead, based on Match's public earnings. The escrow account was one of a handful of concessions from Google to get Match to drop a temporary restraining order it filed after first suing Google, accusing the tech giant of wielding unfair monopoly power in its Google Play Store. Google also committed to not rejecting or deleting Match-owned dating apps from the Play Store for providing alternative payment options. As part of this agreement, Match was to place up to $40M in the escrow account in lieu of paying fees directly to Google for the in-app payments that take place outside of Google Play's own payment system while the courts decide whether or not the commissions Google charges app developers on in-app purchases are legal.
Bumble Adds New Features for Better Dating Experience
Business Dynamics in the Digital Dating Landscape
FINANCIAL TIMES – The digital dating industry, spearheaded by platforms like Tinder, is significant with Match having a market cap of around $13bn. However, platforms face a unique challenge: successful match-making could reduce their user base. Tinder's paying users are declining, while Bumble is expanding, though more users don't necessarily mean more profit. Generational preferences pose another issue; Gen Z is reluctant to use apps popular with older generations. Bumble's strategy involves diversifying its services, from friendship (BFF) to post-dating interactions (Official). These efforts aim to enhance user retention and monetization, which are critical for sustained growth.
by Louis Ashworth
See full article at Financial Times
See the top news on Match Group
See the top news on Tinder
See the top news on Bumble
BrightSwipe Introduces Person Verification Tool
PRESS RELEASE – BrightSwipe has released a person verification and criminal history check solution. Available for iPhone and on the Google Play Store, the tool aids users in confirming the identities of potential matches in online dating or social interactions. It provides checks against catfishing, offers reports on a match's criminal background, and validates social media accounts to determine authenticity. The aim is to bolster confidence and safety in online interactions.