TODAY ONLINE – The survey commissioned by Bumble shows Gen Z in Singapore is more attuned to gender inequity than millennials. About 29% of Gen Zers believe in equal home contribution between genders, compared to 44% of millennials. The findings indicate that gender roles and inequities, particularly in domestic chores and workplace, are still prevalent issues. The survey involved 1K participants and highlights the need for greater gender balance in both personal and professional domains.
Month: December 2023
Grindr to Rebuild Team Post-RTO Staff Exodus
CFO DIVE – After a return-to-office mandate led to nearly half of its employees leaving, Grindr is planning to rebuild its team with a focus on hiring more experienced workers. CFO Vanna Krantz, who joined Grindr just before it went public, reported a reduction in headcount from about 200 to 111 employees. This staffing change resulted in $6.7M in severance costs in the Q3, although the company also saw a reduced net loss compared to the previous year. Krantz indicated that Grindr will increase its headcount gradually, expecting to use consultants and service providers in the interim, and is optimistic about hiring due to its public company status.
Marriage-Centered Dating Apps Rise in Japan
by Hilary Keyes
See full article at Savvy Tokyo
See the top news on Omiai See the top news on Tapple
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Hinge Is Spending $1M to Get People Meeting IRL
Amanda Bradford’s Vision for The League’s Future With Match Group
by Emma Hinchliffe & Joseph Abrams
See full article at Fortune
See the top news on Match Group
See the top news on The League
Gen Z’s Shift Away From Dating Apps: a Move Towards In-Person Connections
PUREWOW – Gen Z appears to be moving away from dating apps, as evidenced by a nationwide survey showing 79% of college-age individuals don't regularly use them, preferring in-person meetings. This trend, alongside plummeting share prices for companies like Bumble and Match Group, suggests a decline in app popularity. Alternatives like group meet-ups, singles clubs, and speed dating are emerging, reflecting a shift towards more traditional, in-person methods of connecting.
Bumble Holdings Repurchases Partnership Interests and Class A Common Stock From Blackstone
BEST STOCKS – On Dec 4, 2023, Bumble Holdings repurchased 3,192,146 limited partnership interests and 4,012,101 shares of Class A common stock from Blackstone for a total of $100M. This transaction, part of a larger agreement, aims to stabilize Bumble's stock prices and is set to close on Dec 7, 2023, under lock-up restrictions until Bumble's Q4 earnings announcement. On the same day, Bumble's stock showed a lackluster performance in the market, despite the company reporting revenue growth and a recovery in net loss for the Q3 2023.
Introducing Fika 3.0: AI-Powered, User-Focused Dating App
LINKEDIN – Fika, the AI-powered social and dating app, has launched its latest version, Fika 3.0. Initially established in 2021 as a female-focused platform, Fika prioritizes safety and authenticity, allowing only verified profiles. Fika 3.0 harnesses data from its 2M users, including images, personality tests, and user interactions. This data powers AI Find 1.0, a feature allowing users to search for connections based on both looks and personality. Available to all subscribers with a 3-day free trial in Dec, Fika offers a glimpse into AI Find 1.0, with a free-text version slated for release in January. The app is available globally, with a focus on Southeast Asia.
Matchmaker Maria Avgitidis Has Helped Set up ~5,000 First Dates
THESKIMM – Maria Avgitidis is the CEO of Agape Match and host of the "Ask a Matchmaker" podcast. She has helped set up over 5,000 first dates. She observes a shift in dating habits, with singles moving away from dating apps and exploring alternative ways to meet people. She suggests that online dating still has value but requires adjustments. Avgitidis has noticed a change in deal breakers over time, evolving from smoking preferences to political and health stances. She encourages flexibility in deal breakers, except for critical decisions like having children. Her "12 date rule" emphasizes emotional over physical compatibility, advising to wait for 12 dates before engaging in sexual activities.
