Month: September 2023
Match Group Releases Its Guiding Principles for Integrating AI Into Its Dating Apps
FAST COMPANY – Match Group has outlined seven guiding principles for integrating AI into its platforms. These principles focus on authenticity, equity, explainability, accountability, safety, privacy, and integrity, with a commitment to ethical and responsible innovation while using AI to enhance user experiences.
Hello Group (MOMO) Reports Q2 2023 Revenue Growth Amid User Decrease
PRESS RELEASE – Hello Group (MOMO) has released its financial results for Q2 2023. Highlights include a 0.9% YoY increase in net revenues, reaching RMB 3,138M ($432.7M). Net income rose to RMB 568.4M ($78.4M), compared to RMB 345.6M in Q2 2022. Monthly Active Users on Tantan app were 17.3M in June 2023, compared to 24.8M in June 2022. For the Momo app total paying users was 7.9M for the Q2 2023, compared to 8.6M for the same period last year. Tantan had 1.4M paying users for the Q2 2023 compared to 2.2M from the year ago period.
IRL Dating App, MM Raised £600K/$750K
TECH ROUND – MM, a dating app blending tech with real-life experiences, has secured £600K in seed funding. The app allows users to connect in real life at local venues, curates events, and partners with organizers to facilitate in-person encounters. The app caters to diverse communities, particularly focusing on cultural nuances within African, Caribbean, and African-American demographics. The funding will support team expansion, app enhancements, and marketing efforts in key cities.
See full article at Tech Round
This post also appears on InternetDatingInvestments.com
Nigerians Embrace Modern Matchmaking With Dating App Trueflutter
VENTURES AFRICA – Trueflutter, a Nigerian dating app founded by brothers Dare and Ayo Olatoye, has experienced consistent monthly growth of 10%. It has secured funding from angel networks like Lagos Angel Network and raised $50K to fuel its growth. The app offers various subscription plans and optional matchmaking services, making it a unique player in Nigeria's dating scene. Despite challenges like limited internet access, Trueflutter has thrived by optimizing its app and investing in security infrastructure. With over 308,000 subscribers, it aims to make a significant impact on the African dating market.
Grindr Loses Half Its Staff After Trying to Force a Return to Office
CNN – Grindr implemented a return-to-office mandate, leading to nearly half of its employees leaving the company. The policy required workers to either relocate to designated "hub" cities for in-person work or resign with severance. ~80 out of 178 employees chose to leave, citing the policy as retaliatory against a recent unionization effort. Many of these workers were hired remotely. The Communication Workers of America (CWA) filed an unfair labor practice charge against Grindr, which the company disputes. Amazon CEO Andy Jassy allowed employees to voice disagreement with the three-days-a-week office policy but warned of potential consequences for non-compliance. Similarly, Meta required employees already assigned to an office to attend three days a week, with noncompliance potentially leading to disciplinary measures or dismissal.
eHarmony Faces Legal Action in Australia for Misleading Dating Offers
AUSTRALIAN ASSOCIATED PRESS – The Australian Competition and Consumer Commission (ACCC) has taken legal action against eHarmony, accusing it of misleading consumers regarding its pricing, membership renewal, and duration. The ACCC alleges that eHarmony enticed users with a "free dating" offer that only provided limited access, such as viewing blurred profile photos and minimal communication options. Furthermore, eHarmony is accused of automatically renewing memberships without clear consent, potentially costing users more than expected. The ACCC seeks penalties, costs, injunctions, and consumer redress from eHarmony. eHarmony has cooperated with the ACCC's investigation but could not comment further due to the ongoing legal proceedings.
Playdate App Teams Up with ITV for ‘My Mum, Your Dad’ Love Island Spin-off Campaign
LINKEDIN – Playdate dating app is partnering with ITV AdVentures Ignite for a special ad campaign tied to the 'My Mum, Your Dad' Love Island spin-off for single parents, airing on ITV1 from September 11-22, 2023. The ITV show, a cross between 'Love Island' and 'The Parent Trap', sees a group of 'mid-lifers' nominated by their grown-up children for a chance to meet a new partner. Playdate is a UK-based dating app designed specifically for single parents.
Dating App The League Launches ‘GoalMate’ Feature
Cyber Attack Causes Coffee Meets Bagel Outage; Users Offered Compensation
THE REGISTER – In late Aug, Coffee Meets Bagel (CMB) suffered a week-long outage due to cybercriminals deleting company data. CMB restored services on Sep 3 and is investigating the breach's details while enhancing cybersecurity. To make amends, they offer users a package with extended chats, free subscriptions, and 1,000 free interaction beans. No sensitive data was exposed. CMB, founded by three sisters, has received $23M in funding across five investment rounds and has 10M users worldwide.