Month: May 2024

Gen Z Is Ditching Dating Apps for Old-fashioned Matchmaking

Posted on May 21, 2024

Tawkify logoNEW YORK POST – Matchmaking services are seeing a surge of Gen Z singles signing up for their events after ditching dating apps. "Matchmaking has never been more popular," said Adam Cohen-Aslatei, director of Tawkify matchmaking service. He said that "business has never been stronger" in their 12 years of matchmaking and the company had the busiest January they'd ever had this year. Three Day Rule, another matchmaking company, said that it's had nearly 50 clients who are 27 or younger in the past year – around five times its usual annual roster of the same demographic. A study from Forbes Health found that 78% of respondents reported feeling fatigued by dating apps, especially those who've likely spent most of their dating life online. Gen Z (79%) and Millennials (80%) had the highest percentage of those reporting feelings of fatigue.

by Adriana Diaz
See full article at New York Post

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Bumble Buys Community Building App Geneva to Expand Further Into Friendships

Posted on May 20, 2024

Bumble Geneva logosTECH CRUNCH – Bumble has acquired Geneva, an online platform built around forming real-world groups and clubs. Terms of the deal were not disclosed, but the announcement comes shortly after Bumble revealed that it would be pursuing acquisitions to drive growth. While Bumble is best known for its dating app, the company recently indicated that friendships could be a bigger focus for the company moving forward. Founded out of New York in 2019, Geneva is all about meeting like-minded people in a given area, whether that's to form running clubs or meetups to talk about the latest books. The company had raised ~$36M.

by Paul Sawers
See full article at Tech Crunch

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Grindr to Open Its Largest Engineering Hub in Chicago

Posted on May 20, 2024

Grindr pic1AUDACY – Grindr is planning to open what will be its largest global engineering hub in Chicago's Loop. Grindr is initially planning to have 50 employees at the engineering center. As the company grows, that number could increase. Grindr's headquarters are in Los Angeles, but the majority of its engineers are in Chicago.

See full article at Audacy

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Tinder Dating Study: Chivalry Is Not Dead

Posted on May 16, 2024

Tinder GENT'S POST – Tinder's "The Green Flags Study" surveyed 8K people from the US, UK, Canada, and Australia, revealing that both men and women are seeking serious relationships, with 68% of women and 53% of men looking for true love. Contrary to common beliefs, only 29% of men prefer casual flings. Traditional romance is still valued, with modern chivalry including gestures like ensuring a date gets home safely. 74% of men are fine with dating higher-earning women, though only 50% of women believe this.

by Samir Mourani
See full article at Gent's Post

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ParshipMeet Group Q1 Financial Update

Posted on May 16, 2024

ParshipMeet GroupOPW – The ParshipMeet Group reports a 9% decrease in revenues for the Dating & Video segment, totaling EUR 107M, down from EUR 117M in the Q1 2023. Specifically, revenues in the Dating unit fell by 12%, influenced by intense market competition and the ongoing impact of Germany's Fair Consumer Contracts Act, which significantly affects the subscription models of Parship and ElitePartner. Additionally, revenues in the Video unit decreased by 4%, also due to a highly competitive environment.

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Hinge Tests New Feature to Limit Likes for Users With Unanswered Chats

Posted on May 16, 2024

Hinge unanswered messages limit featureFAST COMPANY – Hinge is testing a feature that restricts users with eight or more unanswered chats from liking new matches until they reply or close existing conversations. This initiative by Match Group aims to improve engagement and reduce dating app burnout.

by Jessica Bursztynsky
See full article at Fast Company

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Tinder and Bumble to Explore New Avenues Amidst Revenue Challenges

Posted on May 16, 2024

Match Group Bumble logosBLOOMBERG – Tinder and Bumble are diversifying their services beyond dating due to slowing sales growth and declining user engagement. Bumble anticipates a growth slowdown to 9% this year, down from 31% in 2021, and is repositioning itself as a broader human connection platform. Meanwhile, Match Group reported lower-than-expected revenue projections and a drop in paying users. Financially, this has led to a significant reduction in the market valuations of these companies, with Match Group's valuation falling from a peak of $50B to $8B, and Bumble's valuation also substantially decreasing. In contrast, Grindr has shown resilience and growth potential in its niche market despite facing legal challenges.

by Alex Webb
See full article at Bloomberg

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Bumble Apologises for ‘Anti-celibacy’ Ads After Furious Backlash

Posted on May 15, 2024

Bumble anti-celibacy adMASHABLE – Bumble has apologised for its poorly received ads referencing celibacy, calling them a "mistake." The marketing campaign is being slammed across social media, with users accusing the dating app of undermining women's choices and shaming them for refraining from sex. In a statement posted to Bumble's official Facebook, Instagram, and TikTok accounts, the company acknowledged its misstep and announced that it would be removing its heavily criticised anti-celibacy ads from its global marketing campaign.

by Amanda Yeo
See full article at Mashable

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Playdate Seeks Next Round: £1.5m Investment

Posted on May 14, 2024

Playdate logoOPW – Playdate, for UK single parents, is raising a £1.5m Round to scale the business in UK and launch in US. PlayDate's previously raised £440k Pre-Seed funding from a social impact VC and 3 angel investors in Feb 2023. This year Playdate has built their team out including the former Bumble and Facebook Dating Product Manager, grown userbase 5x, won numerous awards, and made it onto the UK's Startups 100 2024 Index. Their mission is to make dating accessible and hassle-free for the 320m single parents across the globe. Contact the Founder, Nevine Coutry at nevine@gotoplaydate.com.

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Hinge’s New Feature Lets Users Filter out Dating Profile Clichés

Posted on May 14, 2024

Hinge hidden wordsNEW YORK TIMES – Dating app Hinge introduced a feature called Hidden Words, allowing users to filter out profiles using specific words, phrases, or emojis. Common phrases like "fluent in sarcasm" and "pineapple belongs on pizza" have become overused and undesirable in online dating profiles. This feature highlights how specific language can become an "ick" or turnoff for many users.

by Sam Corbin
See full article at New York Times

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