Month: November 2023

Bumble CEO Whitney Wolfe Herd Steps Down

Posted on November 6, 2023

Whitney Wolfe Herd steps down as CEO of BumbleWALL STREET JOURNAL – Whitney will become exec. chair and will be replaced by Lidiane Jones, the Slack CEO, on Jan 2. Bumble reports Q3 earnings Tuesday. Bumble Inc. comprises Bumble, Bumble for Friends, Badoo, Fruitz (for Gen Z) and Official, a newly acquired app that helps couples relationships. Jones, 44, worked for Microsoft for a decade, then Salesforce, which acquired Slack in 2021. Jones will be based in Cambridge, MA. (Bumble's HQ is in Austin, Texas). "We really want to embark big on AI," she said. "AI can play such a big role in accelerating people finding the right person, finding the right friends and the right community." Blackstone is the largest institutional shareholder in Bumble Inc. Whitney is the largest individual shareholder.

by Sara Ashley O'Brien
See full article at Wall Street Journal

Mark Brooks: Jones brings the culture of Slack and Microsoft to the dating space. Seems like a good potential match for the #2 player in the dating industry.

See the top news on Bumble

Survey: ‘Ghosting’ Impacts 84% of Dating and 50% of Friendships

Posted on November 6, 2023

Online datingIOL – A study by the Thriving Center of Psychology found that 'ghosting' is prevalent, with 84% of Gen Z and millennials experiencing it in dating, and 50% in friendships. Women are more likely to ghost than men, often to avoid confrontation or due to lost interest. The emotional fallout from being ghosted includes confusion and hurt, leading some to reciprocate the behavior as a defense mechanism. Despite negative feelings, many see ghosting as an acceptable response in certain situations. This trend is also evident in professional contexts, with individuals ghosting employers or workplaces. The study involved 1014 young adults.

by Karishma Dipa
See full article at IOL

Match Group Stock Tumbles After Paying Users Fall Again

Posted on November 3, 2023

Match Group stock priceWALL STREET JOURNAL – Match Group shares were down 17% at $28.87 on Wednesday, putting them on pace for a new all-time low. Match Group's Q3 results showed better-than-expected earnings and revenue. Paying users, however, declined for the fourth straight quarter, adding fuel to debates about the online dating market being saturated.

by Denny Jacob
See full article at Wall Street Journal

See the top news on Match Group

Alphabet, Match Settle Google Play Antitrust Fight Before Trial

Posted on November 3, 2023

Match GroupBNN BLOOMBERG – Alphabet has settled an antitrust lawsuit with Match Group, which claimed Google Play's policies were illegal. This agreement dismisses all ongoing litigation and provides Match with improved terms on Google Play. Despite this settlement, Alphabet's legal challenges continue with a forthcoming trial against Epic Games. The settlement with Match includes more favorable fees for Match on Google's platforms and a $40 million reimbursement to Match for disputed service fees. Google maintains that the settlement allows them to keep offering a secure and quality experience on Google Play while investing in the Android ecosystem.

by Malathi Nayak
See full article at BNN Bloomberg

See the top news on Match Group

Tinder Partners With The Beaches to Promote New Matchmaking Feature

Posted on November 3, 2023

Tinder Partners With The Beaches to Promote New Matchmaking FeatureTHE MESSAGE – Tinder Canada has partnered with Toronto indie band The Beaches to promote its new Matchmaker feature. The feature lets friends and family suggest potential matches by sharing a unique link, but they can't chat or match on behalf of the user. The promotion includes influencer content, in-app ads, press outreach, and a contest. The campaign, which is one of Tinder's major efforts in Canada, ties in with The Beaches' new album "Blame My Ex." It emphasizes self-discovery and romantic experiences, fitting with the theme of relying on friends for dating advice. Tinder's collaboration with The Beaches aims to celebrate strong, supportive female and queer experiences in line with the brand's values of honesty and inclusivity.

by Emma Johnston-Wheeler
See full article at The Message

See the top news on Tinder

OPW Was Started in 2004

Posted on November 2, 2023

OPW bannerOPW – I (Mark Brooks) started Online Personals Watch in June 2004. Here are the very first posts. We continue to faithfully watch for the top news from quality reporters and provide tight summaries and capture the intell. in the news for you, leaders in the online dating and matchmaking industry, so you can learn what is going on and stay current and make better decisions.

Match Group Q3 Financial Results

Posted on November 1, 2023

Match Group logo for social mediaMATCH GROUP – In Q3 2023, Match Group reported its highest ever quarterly total revenue of $882M, a 9% increase YOY. Key financial highlights include:

  • Tinder's revenue rose by 11% YOY, reaching $509M
  • Hinge saw 44% YOY increase in revenue, amounting to $107M, driven by substantial user growth, especially in English-speaking and European markets
  • Match Group Asia and Evergreen & Emerging segments saw a decline in revenue by 5% and 3% YOY respectively
  • Operating Income stood at $244M, marking a 16% YOY growth
  • Adjusted Operating Income reached $333M, reflecting a 17% YOY growth

Tinder's Revenue growth was driven by U.S. pricing optimizations, resulting in a raised RPP of $16.28, even though there was a 6% decline in payers. Hinge's success continued, with a 33% YOY increase in payers and an RPP growth of 8% YOY. In contrast, certain brands in Asia and the Evergreen & Emerging segments experienced revenue declines.

See full article at Match Group website

See the top news on Match Group

Bipartisan Bill Cracks Down on Dating App Scams That Cost Victims $1 Billion a Year

Posted on November 1, 2023

Dating appsFOX NEWS – House lawmakers, led by Republican Rep. David Valadao and Democratic Rep. Brittany Pettersen, are proposing the Online Dating Safety Act to combat the increasing scams on dating apps that led to victims losing ~$1B in a year. If approved, the bill would mandate dating apps to notify users if they've interacted with banned individuals who've used fake identities or intended fraud. The Federal Trade Commission reported that in 2022, about 70K individuals were victims of romance scams, with a median loss of $4,400, totaling losses ~$1.3B. Most scams involved claims of personal emergencies, investment insights, or being in the military.

by Elizabeth Elkind
See full article at Fox News

Michael Kaye: AI, Storytelling, and Global Brand Challenges at OkCupid

Posted on November 1, 2023

OkCupid Michael KayeRAGAN – Michael Kaye, the director of brand marketing and communications at ARCHER and OkCupid, has been honored as one of Ragan's 2023 Game Changers. He successfully expanded OkCupid's brand globally and managed communications across diverse markets. Kaye emphasizes the importance of understanding artificial intelligence and analyzing data for storytelling. He also highlights the need for understanding intersectionality due to the diversity of Gen Z. Despite appearing confident in public speaking roles, Kaye admits to dealing with social anxiety. He recalls a memorable experience when OkCupid's initiative was mentioned in a White House press briefing related to COVID-19 vaccination.

by Isis Simpson-Mersha
See full article at Ragan

See the top news on OkCupid