CAMPAIGN ASIA – Bumble has crossed the $2B mark in global user spending, making it the second dating app after Tinder to reach this milestone. The achievement comes nine years after its launch in 2014. Most of Bumble's revenue is driven by subscriptions, and it's currently the second most downloaded dating app worldwide, trailing behind Tinder and Hinge, but ahead of Happn and Badoo. The app has over 50 million users in 150 countries as of January 2023.
Month: August 2023
Loop Dating App Allows Friends to Set up Friends
JEWISH INSIDER – "Loop", a new dating app launched in May, is revamping traditional matchmaking methods by allowing users to set up their friends. Unlike conventional dating apps, Loop's approach gives singles visibility to friends in their network and friends of friends, allowing for potentially more trusted connections. Within weeks of its launch, the app gained popularity, especially in the Orthodox Jewish community. The app has been downloaded ~13,000 times and has facilitated ~2K set-ups since its debut, according to the founders.
Jigsaw Launches Singles Events Tickets Purchase Through Apple Maps
Tinder Trials AI Features
TECH CRUNCH – Tinder is trialling an AI feature that chooses the best photos to represent a user in their dating profile. Match Group CEO, Bernard Kim, explained that AI can help users build more accurate profiles efficiently. The company is also testing other AI capabilities, such as content surfacing, and potentially using generative AI to assist users in writing their bio. However, they remain aware of the need to balance this with maintaining authenticity and addressing ethical and privacy concerns. This comes as part of a broader trend, with various dating apps integrating AI to improve user experience, from chat features to dating advice tools.
Match Group Q2 Financial Results: Record Revenue in Q2 of $830M
PRESS RELEASE – Total Revenue grew 4% YOY to $830M. Tinder direct revenue was up 6%, while other brands collectively were up 3% YOY. Within other brands, Hinge direct revenue was up 35% YOY. Payers declined 5% to 15.6M over the prior year quarter. Operating income was $215M, representing an operating margin of 26%. Tinder has increased its revenue through pricing optimization and weekly subscription packages, improving user growth and conversion rates, particularly among females. The brand plans to introduce a product refresh targeting Gen Z with features for deeper self-expression. Additionally, a high-end membership tier is expected to launch in early fall. The company is working on AI-based features set to launch over the next two quarters, including helping users select their best photos and using AI to suggest potential good matches.
Tired of Dating Apps, Some Turn to Google Docs
by Jenny Gross & Livia Albeck-Ripka
See full article at New York Times
Tinder to Launch a ‘High-end’ Membership This Fall
TECH CRUNCH – Tinder is planning to launch a new premium membership, called "Tinder Vault", and a product refresh designed for Gen Z users. The premium membership will cost $500 per month and offer additional benefits beyond the existing offerings, making it an exclusive experience. This move was inspired by the acquisition of the high-end dating app, The League. Additionally, Tinder's product refresh will feature prompts, quizzes, conversation starters, and AI algorithms to improve user experiences.
Dating App Patent Held by Trinity Info Media Invalidated by U.S. Appeals Court
OBWBIP – The U.S. Court of Appeals upheld the invalidation of an online dating app patent owned by Trinity Info Media (TIM), marking a blow to its enforcement campaign against owners and operators of dating apps such as Coffee Meets Bagel, Raya App, The League App, and Covalent, Inc. The court's decision relied on the Alice two-step framework, ruling that TIM's patent was too abstract and not eligible for protection under Section 101 of the Patent Statute. Despite this setback, patent litigation in the dating app space is expected to continue.
Tinder Launches ‘My First Pride’ Sticker to Foster Queer Community Engagement
EMERCE.NL – Tinder has launched a "My First Pride" sticker to support queer community members. Their Future of Dating report indicates that 54% of surveyed LGBTQIA+ members aged 18-25 used a dating app to come out before telling friends and family. Tinder's LGBTQIA+ membership has more than doubled in the last two years among those aged 18 to 25, making it the fastest-growing group on the platform.
AI Entering the Dating Pool Is a Bleak Prospect
FINANCIAL TIMES – The advent of AI in online dating is attracting interest and concern. Startups like Rizz and YourMove AI are using AI to create appealing profiles and opening lines, while Teaser AI allows chatbots to mimic users' chat styles. Bumble and Match Group are monitoring these developments, seeing potential in AI for improving matches and countering ghosting. However, increased AI usage raises concerns about authenticity and a surge in fake accounts. Public response to AI in personal communications, as seen on Snapchat and Meta's apps, has so far been negative. The real test for AI in dating may come when conversations move offline.
by Elaine Moore
See full article at Financial Times
See the top news on Match Group
See the top news on Bumble
See the top news on Teaser AI