Month: August 2024

Reminder: LTR Edition 34 Happening This Wednesday, August 14th

Posted on August 12, 2024

LTR logo for social mediaOPW – Don't miss LTR (Love, Tech, Relationships) Edition 34 this Wednesday, August 14th, at 1pm EST (New York time). This edition promises to be both insightful and engaging, featuring two renowned experts in the dating industry. We will hear from Colin Hodge, co-founder and President of the DOWN Dating app, who will engage in a fireside chat with Mark Brooks. Then, Eric Resnick, Author, Online Dating Expert, and founder of ProfileHelper.com, will present "How to Fix the Dating Industry."

If you hold a full-time leadership role at an Internet dating company, you are welcome to join IDEA for free and LTR events for free.

See the LTR Edition 34 speakers and invite page here

Email mark@courtlandbrooks.com to RSVP.

This LTR is kindly sponsored by ParshipMeet Group, RealMe, Dating Through Curiosity, along with Courtland Brooks and Matchmaker.com.

Indian Company Info Edge Q1 Profit Increases by 75% to $31M

Posted on August 12, 2024

Jeevansathi logoZEE BUSINESS – Info Edge, the parent company of Naukri.com and the online matrimonial service Jeevansathi, reported a 75.6% increase in consolidated profit for Q1 FY25, reaching ₹258.8 crore ($30.8M). This growth was driven by strong performance in its recruitment, real estate, and matchmaking businesses. Revenue from operations increased by 8.1% to ₹677 crore ($80.6M), with significant contributions from the real estate and education sectors. The previous year, Info Edge had a net profit of ₹147.4 crore ($17.6M) for the same period.

See full article at Zee Business

See the top news on Jeevansathi

Dating App Thursday Expands to San Francisco

Posted on August 12, 2024

ThursdayTECH CRUNCH – Thursday, the dating app, which is available only on Thursdays, has expanded to San Francisco. By limiting access to one day a week, it encourages users to schedule real-life meetups promptly, addressing "swiping fatigue". Thursday limits matches to 10 per day, encouraging serious dating efforts. Users can increase this cap with a subscription. The app also organizes in-person singles events through Thursday Event. Founded in 2021, Thursday is available in six countries, including the U.S., U.K., and Australia, and plans to reach 100 cities by the end of 2024.

by Lauren Forristal
See full article at Tech Crunch

See the top news on Thursday

Bumble Reports Revenue Growth With Increased User Base but Declines in ARPPU

Posted on August 9, 2024

Bumble inc
PRESS RELEASE – Total Revenue increased 3.4% to $268.6M, compared to $259.7M. Bumble app revenue increased 4.8% to $218M, compared to $208M. Badoo app and other revenue decreased 2.2% to $50.6M, compared to $51.8M. Total paying users increased to 4.1M, compared to 3.6M. Total average revenue per paying user decreased to $21.37,  compared to $23.23. Net earnings were $37.7M compared to net earnings of $9.3M.

See full article at Bumble website

See the top news on Bumble
See the top news on Badoo

Grindr Reports Strong Revenue Growth and $25M Operating Income in Q2 2024

Posted on August 9, 2024

GrindrPRESS RELEASE – Grindr reported a 34% increase in revenue for Q2 of 2024, reaching $82M, with an operating income of $25M. Despite a net loss, the company achieved an adjusted EBITDA margin of 45%. Grindr has raised its full-year guidance, anticipating a revenue growth of 27% or greater and an adjusted EBITDA margin of over 42%. The company attributes its success to continued global user growth and enhanced product offerings, aiming to further improve user experiences and drive growth.

See full article at Grindr website

See the top news on Grindr

Laura Matter Creates ‘Noii’, a Dating App With a Focus on Real-Life Connections

Posted on August 9, 2024

Noii logoSRF – Laura Matter, who has never dated using apps, co-founded a dating app called "Noii," which emphasizes real-life connections. Unlike traditional platforms like Tinder and Bumble, Noii offers video dates and offline events such as speed dating on a ski lift or a train. The idea was born during the COVID-19 pandemic when Matter observed the superficiality of current dating culture. Along with Vladislav Lisavcov and Thomas Kuschel, she launched Noii in 2022.

by Anna Uebrelhart & Nadia Trepp
See full article at SRF

See the top news on Noii

Dan Ariely – Keynote Fireside Chat, Lessons/Learning From Behavioral Economics

Posted on August 9, 2024

LTR – Professor Dan Ariely, an expert in psychology and behavioral economics from Duke University, discusses his journey and insights into behavioral economics, dating, and human motivation. Known for his best-selling books "Predictably Irrational" and "The Upside of Rationality," Professor Ariely explains the importance of understanding and reducing friction in decision-making processes. He shares his research on online dating, highlighting the impact of system design on user behavior. Professor Ariely also touches on broader themes such as the challenges of motivation, the complexities of human relationships, and the potential of AI in improving decision-making. His personal experiences, including his burn injuries, add depth to his perspective on human behavior and social science.

The June LTR was kindly sponsored by ParshipMeet Group, RealMe, along with Courtland Brooks and Matchmaker.com

Grindr Cooperates With Police After Alleged Homophobic Attacks in Canberra

Posted on August 9, 2024

Grindr logoABC – Grindr is working with Aussie police to investigate three alleged homophobic attacks in Canberra, where men were reportedly lured by fake profiles, assaulted, and subjected to slurs. The app, emphasizing a zero-tolerance policy for discrimination and harassment, has teamed up with Canberra's LGBTQIA+ group Meridian to deliver in-app safety messages. Users are urged to verify identities via video call and meet in public places. Police are also investigating a potential link to a similar incident in New South Wales. In Victoria, police are addressing similar attacks on gay men, stressing vigilance and the importance of user safety.

by Monte Bovill
See full article at ABC

See the top news on Grindr

Bumble Shares Plunge 30% Amid Lower Revenue Forecast and User Growth Challenges

Posted on August 9, 2024

BumbleMARKETWATCH – Bumble saw its stock plummet over 30% after reducing its 2024 revenue growth forecast to 1%–2%, a sharp drop from the previous 8%–11% estimate. Despite a recent app redesign that improved user engagement, CEO Lidiane Jones highlighted the need for long-term strategies to boost customer value. Bumble's Q2 earnings were $37.7M, beating expectations, but revenue rose only 3.4% to $268.6M, below forecasts. The average revenue per user fell to $21.37, and the company predicts lower-than-expected Q3 revenue. Bumble shares have declined about 45% this year, contrasting with the S&P 500's 9% gain.

by Claudia Assis
See full article at Marketwatch

See the top news on Bumble