THE DRUM – Bumble's new ad campaign, 'My Love is Black Love', focuses on the dating experiences of Black British women, addressing the stereotypes and preconceptions they often face. Featuring prominent figures like Amber Gill, Whitney Adebayo Nella Rose, Shantania Beckford, and Tolly T, the campaign aims to amplify Black women's voices and challenge misconceptions. Naomi Walkland, Bumble's VP of Marketing, emphasizes the importance of representation in overcoming stereotypes in dating, from expectations to fetishization.
Month: November 2023
Dmitry Volkov – Interview With Mark Brooks
LTR – Dmitry, a seasoned serial entrepreneur and investor in 22 venture funds, including Khosla Ventures and 500 Startups, offered valuable insights during the interview. Remarkably, he embarked on his entrepreneurial journey at the age of 14, establishing his first software company at 21, which impressively grew to encompass 500 employees. He shares how the company focuses on social discovery, connecting people from all over the world, and the unique aspects of their approach. Dmitry also mentions their interest in AI-based social apps and their willingness to invest in companies that align with their values and goals.
Dmitry's entrepreneurial acumen extends to founding one of the world's largest social discovery group of companies, dedicated to addressing issues of loneliness, isolation, and disconnection through the utilization of digital reality. This Social Discovery Group, encompassing ~40 brands, specializes in dating and innovative social and entertainment apps with a focus on AI, video streaming, and game mechanics. Together, these brands boast ~250M registered users worldwide, facilitating ~75M daily messages.
The September LTR was kindly sponsored by ParshipMeet Group, RealMe, along with Courtland Brooks and Matchmaker.com
Ador: New Indian Platform Connects Users Through Shared Interests and Growth
OPW – Ador is a new app in the Indian online dating market. "Ador is neither a dating app nor a marriage app," claims the app's founder & CEO Udit Shah. "It's a connection app centered on aligning singles based on interests, hobbies, and personalities, allowing them to share content, and access educational resources", he says. Ador has recently introduced new features leading to a notable uptick in user engagement, including a more gender-balanced user base with an increase in female users. The 'Message Request Before Match' feature which allows users to send a message before forming a mutual match, resulted in a 2000% increase in connection requests on the platform. Through its Conversation channel on Instagram, Ador connects users with stories from influencers such as Mrs. India, Miss Trans Global, and various award winners, significantly expanding its reach and engagement.
H4M Matchmaking Survey – AI, LGBTQ and Online Dating
PR NEWSWIRE – H4M Matchmaking's survey shows 44% of LGBTQ+ singles are concerned with AI in dating, with 45% having been deceived by AI or chatbots. Additionally, 58% find it harder to make genuine connections online, and 57% feel online dating has become more stressful. Despite 75% not using AI in dating apps, there's an openness to AI if it could lead to real-life dates, with 49% willing to try it. However, 45% have experienced deception, like catfishing, on dating apps, underscoring the need for safer online dating environments.
3Fun Announces Monthly Donations Exceeding $10K to American Sexual Health Association
PR NEWSWIRE – 3Fun, a dating app for open-minded singles and partners, has committed monthly donations of $10K to the American Sexual Health Association (ASHA) to support sexual health education, treatment, and advocacy. This initiative aims to combat the stigmatization of sexual health and promote sexual freedom, aligning with 3Fun's mission of creating a safe and inclusive environment for sexual exploration.
Bumble Announces Q3 2023 Results, Revenue up 18%
PRESS RELEASE – Bumble reported an 18% revenue increase to $276M for the Q3 of 2023. Bumble App's revenue rose by 23% to $222M, with its paying users up by 25% to 2.6M. The company experienced a net earning of $23.1M and an Adjusted EBITDA of $75.3M. Reflecting confidence in its long-term growth, Bumble also boosted its share repurchase program to $300M. Badoo App and Other Revenue increased 3.3% to $53.7M, compared to $52M. Total paying users increased to 3.8M, compared to 3.3M.
TruuBlue: New Dating App for Socially Conscious Singles Launches
COLORADO INNO – Serial entrepreneur Dennis Hefter has launched TruuBlue, a dating app targeted at "socially progressive" singles who prioritize social issues. The app, which differentiates from others by not focusing on political alignment but rather on social values, allows users to express their stances on topics like climate change and gun control. Unlike traditional swiping mechanisms, TruuBlue uses likes on photos or icebreaker responses. Currently live in Colorado, TruuBlue plans a nationwide rollout after reaching a user base milestone, having started with a seed funding of $500K from family and friends.
Dating Apps Need to Rekindle Romance With Wall Street
WALL STREET JOURNAL – Bumble's share price slid ~5% on Monday morning after the company said that founder Whitney Wolfe Herd is stepping down from the CEO role. She will remain as executive chair, while Lidiane Jones will take over as CEO on Jan 2. She currently heads up Slack Technologies, where she became CEO almost a year ago under the ownership of Salesforce. Shweta Khajuria of Evercore ISI wrote: "We view Whitney's departure as a near to midterm headwind for business operations and a negative for overall company morale." Investors weren't exactly hot for Bumble anyway, or Tinder owner Match for that matter. Bumble's share price was already down 35% for the year ahead of Monday's news, while Match was down 31%. The latter's stock slid more than 15% after it reported third-quarter results last week that showed a continued decline in the number of "payers" on the Tinder app.
How Bumble’s New CEO Lidiane Jones Plans to Use AI
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