BUSINESSWIRE – Total revenue increased 18.5% to $259.7M, compared to $219.2M. This includes an unfavorable impact of $1.6M from foreign currency movements YOY. Bumble App Revenue grew 23.4% YOY to $208M, compared to $168.5M in Q2 '22. Badoo App and other revenue increased 2% to $51.8M, compared to $50.7M. Total paying users increased to 3.6M, compared to 3M. Net earnings were $9.3M or 3.6% of revenue, compared to net loss of $5M, or (2.3)% of revenue.
Month: August 2023
Matrimony.com Posts Q1 Revenue of $15M; Wins Gold at ET Brand Equity Awards
NEWS PATROLLING – Matrimony.com reported its financial results for Q1 ending June 30, 2023. Consolidated billing and revenue were $15.03M and $14.88M, respectively, with Profit After Tax (PAT) at $1.71M. The Matchmaking sector saw revenue at $14.56M. The company also added 280K paid subscriptions during the quarter and won Gold at the ET Brand Equity "Shark Awards" for their 'My AI Valentine' Valentine's Day Campaign.
Penn State Student Launches Label-Free Dating App, Bindr
PSU.EDU – Mary Richardson, a student at Penn State York, collaborated with Brandon Teller to launch Bindr, a dating app prioritizing inclusivity for the LGBTQIA+ community. Driven by personal experiences of discrimination on other platforms, Richardson envisioned a "label-free" app. In just a year, Bindr amassed ~25K users, aided by resources like York LaunchBox. The duo have won multiple pitch competitions, securing funds for Bindr's development. Richardson has been nominated for the 2023 Women in Technology Award. The success of Bindr is partly attributed to the support from Penn State York and its various resources.
by Barbara Dennis
See full article at PSU.edu
Grindr Tells Unionizing Workers: Move Across the Country or Be Fired
VICE – Shortly after Grindr employees announced plans to unionize with the Communications Workers of America, the LGBTQ dating app introduced a return-to-office policy, mandating staff to relocate or face termination. Employees believe this move is retaliatory against their unionizing efforts. Grindr claims the policy had been planned for months, but details like securing appropriate office space remain unresolved. The decision has been especially hard for trans workers, who view relocation as potentially jeopardizing their safety. The union has accused Grindr of using the policy as a means to counter the unionization efforts.
Aaron S. Jacobs – Understanding Patents in the Online Dating Industry
LTR – Aaron S. Jacobs is an experienced trial and appellate attorney specializing in technology litigation, including patents. He has litigated cases in various industries, including software and mobile apps. Aaron explains patents as government grants that give individuals or entities the right to exclude others from using their inventions. He discusses how patents are obtained through the US Patent and Trademark Office and emphasizes the importance of the claims in defining the scope of the patent.
Aaron then delves into patent litigation in the online dating industry, using Tinder and Bumble as examples. He discusses Tinder's patent applications and how Bumble challenged them through inter partes reviews. Eventually, both companies settled their court litigation, but Match filed a new lawsuit against Bumble, claiming infringement of a recently issued patent. Aaron hints that Match may continue to pursue legal action with another amendment to the patent.
The July LTR was kindly sponsored by technology provider Livebox by The Meet Group, Courtland Brooks and Matchmaker.com
Tinder’s New Gen-Z Ads Unveiled
THE DRUM – Tinder has released three new ads emphasizing the various experiences initiated by a swipe. These ads, part of the gen-Z targeted 'It Starts With a Swipe' campaign, explore potential outcomes from using the app. Created with Mischief @ No Fixed Address, the campaign will be broadcasted across digital platforms and connected TVs.
Grindr Announces Q&A Platform for Shareholders
BUSINESSWIRE – Grindr has opened a shareholder Q&A on the Say Technologies platform to enable shareholders to submit questions in connection with its upcoming earnings release. Grindr is scheduled to host a live discussion of its Q2 2023 earnings at 5:00PM EST on Wed, August 9, 2023.
ProSiebenSat.1 Group Faces Revenue Decline in Dating & Video Segment Amid Regulatory and Competitive Challenges in 2023
PRESS RELEASE – ProSiebenSat1, the parent company of ParshipMeet Group, has released Q2 2023 financial results. The Dating & Video segment witnessed a decline in revenues to EUR 107M in Q2 2023, a drop of 18% from EUR 130M in the previous year, largely influenced by stricter consumer contract regulations in Germany, which particularly affected subscription models of Parship and ElitePartner. Adjusted EBITDA decreased 30% in Q2 and by 18% in H12023.
Stir Unveils Empowering Campaign for Single Parents
