Month: September 2024

Gen Z and Millennials Are Leaving Tinder for Hinge in Search of Serious Relationships

Posted on September 6, 2024

HingeFORTUNE – Tinder is struggling as its user growth flatlines, while Hinge is gaining popularity, especially among Gen Z and millennials seeking serious relationships. Hinge's daily active users increased by 17% YOY, while Tinder saw a 10% decrease. Hinge's appeal comes from being perceived as a platform for meaningful connections, while Tinder struggles with its reputation as a hookup app. Match Group faces the challenge of revamping Tinder to attract more serious daters without overlapping too much with Hinge's audience. Tinder is offering new tools like AI wingmen, developed through a deal with OpenAI, to help Gen Z users with flirting and profile design. Hinge focuses on features like limiting active conversations to promote quality interactions and its "Designed to be deleted" strategy, encouraging serious relationships. Tinder also offers "Super Boosts" and more affordable paid features to attract users, though these have seen limited success.

by Sasha Rogelberg
See full article at Fortune

See the top news on Tinder
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See the top news on Match Group

Fireside Chat With Colin Hodge, President of DOWN Dating App

Posted on September 5, 2024

LTR – Colin Hodge, President and Co-Founder of DOWN Dating App, shares the fascinating journey of creating the app, originally known as Bang with Friends. He discusses how the app was born from a spontaneous idea, quickly became a viral sensation, and underwent significant transformations, including a rebrand and a challenging removal from the Apple App Store. Despite these hurdles, Colin emphasizes perseverance and staying true to their mission of promoting sex-positive, shame-free dating. He also highlights the app's evolution, including innovative features like Snap Match, which connects users internationally for real-time flirting and cultural exchange.

[**See the video here on Youtube**]

The August LTR was kindly sponsored by ParshipMeet Group, RealMe, Dating Through Curiosity, along with Courtland Brooks and Matchmaker.com

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Matrimony.com Surges 14% Ahead of Share Buyback Decision

Posted on September 4, 2024

Matrimonycom logo higher resolutionBUSINESS STANDARD – Shares of Matrimony.com surged 14% on the BSE, hitting a 52-week high during Tuesday's intra-day trade, driven by the company's announcement that its board will meet on Sep 5, 2024, to consider a share buyback proposal. The stock has rallied 40% in the past three weeks and surpassed its previous high of Rs 785.05 on Aug 21. Matrimony.com, India's leading online matchmaking company, manages brands like BharatMatrimony, CommunityMatrimony, and EliteMatrimony. It is expanding into adjacent segments, including launching MeraLuv.com, a dating app for Indian Americans, and plans to release Luv.com, a next-gen matchmaking app. Analysts attribute the stock's rise to upcoming changes in India's share buyback tax regime, effective from Oct 1, which shifts the tax burden from companies to shareholders.

See full article at Business Standard

See the top news on Matrimony.com

HubPeople Terminates Agreement With Venntro Media Group Amid Financial Collapse

Posted on September 4, 2024

Hubpeople.ai logoOPW – On Sep 3rd, 2024, HubPeople terminated its agreement with Venntro Media Group after the latter entered administration on Aug 2nd. Venntro, facing over £2M in debt, had earlier shifted from its long-standing revenue-sharing model under WhiteLabelDating (WLD) to a Software-as-a-Service (SaaS) approach. This transition left many of its affiliates in uncertainty. In May 2024, HubPeople partnered with Venntro to help migrate its B2B partners to HubPeople’s Excite and Affinity platforms. By July, HubPeople was also assisting in the transition of Venntro's in-house brands. However, following Venntro's entry into administration, HubPeople ended its service agreement. HubPeople now holds exclusive worldwide rights to market and process the data of 15M users who were previously hosted on Venntro’s platform.

See the top news on HubPeople
See the top news on WhiteLabelDating.com

Match Group Stock Signals Bullish Momentum With Golden Cross Formation

Posted on September 4, 2024

Match GroupBENZINGA – Match Group's stock has completed a Golden Cross, a bullish technical indicator where the short-term moving average crosses above the long-term moving average, signaling potential upward momentum. Currently trading at $37.31, the stock is above its 5, 20, and 50-day exponential moving averages, indicating strong buying pressure. This pattern suggests that the stock may be gearing up for further gains, making it an attractive opportunity for investors. However, while the Golden Cross is a promising signal, other factors such as market conditions and company performance should also be considered.

by Surbhi Jain
See full article at Benzinga

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BBC Interview – Global Dating Trends

Posted on September 3, 2024

BBC – Colleen McClain, a Senior Researcher at Pew Research Center, and Murugavel Janakiraman, Founder and CEO of Matrimony.com, were part of a special edition of BBC's global TV business program, Talking Business. The show explored trends in dating and online dating worldwide. While the UK and US are experiencing a shift from digital to in-person dating, the show delved into how this trend is evolving in India.

[**See the video here on Youtube**]

See the top news on Matrimony.com

Reminder: LTR Edition 35 Happening This Wednesday, September 4th

Posted on September 2, 2024

LTR logo for social mediaOPW – Don't miss LTR (Love, Tech, Relationships) Edition 35 this Wednesday, September 4th, at 1pm EST (New York time). Don't miss this exclusive fireside chat featuring Jim Safka, former CEO of Match.com, and Adam Hanft, former brand strategist for Match.com, as they discuss "The Future of Online Dating" with Mark Brooks.

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 35 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.

Dating Apps Develop AI ‘Wingmen’ to Generate Better Chat-up Lines

Posted on September 2, 2024

Dating apps picFINANCIAL TIMES – Dating apps like Tinder, Hinge, Bumble, and Grindr are developing AI tools to assist users in improving their interactions. For example, Tinder is testing an AI feature to help users build profiles by selecting the best photos, and Hinge plans to launch a chatbot offering feedback on user-generated prompts. Grindr's "Grindr Wingman" generates conversation prompts based on users' profiles and chat history to reduce dating fatigue. Match Group added it is investing in recruiting AI talent as a "game-changing" priority for its flagship dating products. Engineers from Hyperconnect, the South Korean social media company it acquired in 2021, would be redirected to build AI tools at Tinder and Hinge.

See full article at Financial Times

Tinder Launches Exclusive Dating App for Celebrities and Influencers

Posted on September 2, 2024

TinderMIRROR.CO.UK – Tinder is launching a new invite-only dating app tailored for celebrities and affluent individuals. The app has already approached well-known figures like Vanessa Feltz and Hannah Waddingham. This exclusive service aims to compete with other celebrity-focused dating platforms like Raya and will first roll out in the UK before expanding globally.

by Janine Yaqoob
See full article at Mirror.co.uk

See the top news on Tinder

Grindr Issues Warning Amid Rise in Violence Against Users

Posted on September 2, 2024

GrindrMSN – Grindr has issued warnings about a rise in violence against users of the app globally. Perpetrators are increasingly using Grindr to target victims, as seen in a recent deadly attack in Brussels. Since June, there has been a notable increase in reports of violence or theft following Grindr dates. Grindr is using pop-up alerts to caution users, particularly in Brussels, where violent and homophobic ambushes have been reported. The app's anonymity and location-sharing features make it a target for criminals.

See full article at MSN

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