LINKEDIN – Linda Kim has announced her departure as CEO of Hyperconnect, the video technology company acquired by Match Group in 2021. Kim had led Hyperconnect through its integration into Match Group and most recently oversaw products including Azar and Hakuna. She announced the move on LinkedIn, where she described her tenure as one of the most rewarding chapters of her career.
TURKIYE TODAY – Turkish telecom regulator BTK has blocked access to multiple chat and dating apps, including Azar, LivU, and Tango, following court approval from Ankara’s 3rd and 4th Criminal Judgeships of Peace. Other restricted platforms include Flirtfy, CoMeet, Camsurf, Roulette Chat, LivCam, and more. The ban, confirmed by EngelliWeb, applies to a wide range of social and video chat apps.
FAST COMPANY – Azar, a one-on-one video chat app owned by Match Group, has launched in the U.S., targeting Gen Z users who make up 60% of its global base. The app allows random video chats with paid options for filters like gender or location and has facilitated over 100B chats worldwide. Its launch comes amid rising loneliness in the U.S., but concerns remain about safety, as the platform lacks age verification despite employing AI and moderators.
MATCH GROUP – In Q3 2024, Match Group's revenue grew by 2% YOY, reaching $895M. The period saw a 3% decline in total payers to 15.2M, while revenue per payer increased by 5% to $19.26. Operating income fell 14% to $211M due to impairment costs associated with phasing out certain live streaming services, although adjusted operating income rose 3% to $343M. Share repurchases continued, totaling $241M for the quarter.
Tinder's performance showed improvement, with a 4% decline in payers, less than Q2's 8% drop. Hinge achieved significant growth, with direct revenue up 36% YOY and reaching record downloads in the U.S. and Europe. Match Group Asia saw steady growth for Azar, especially in Europe, while Evergreen and Emerging brands continued expanding into specific demographic markets.
Match Group expects Q4 revenue between $865-$875M, with slight growth excluding revenue from discontinued services. An Investor Day scheduled for December 11, 2024, will outline further strategic insights.
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TECH CRUNCH – Azar, a random video chat app owned by Match Group, has facilitated ~100B global chats and is now entering the U.S. market. Targeting mostly Gen Z users, it seeks to revive the popularity of random chat platforms like Chatroulette and Omegle, but faces challenges due to the negative reputation of these apps, including safety concerns. Azar employs AI and human moderators to prevent inappropriate content, distinguishing itself from its predecessors. Though not a dating app, some use it for that purpose, and its real-time translation feature connects users across languages. CEO Linda Kim believes their focus on safety will help Azar succeed in the U.S.
MATCH GROUP – In the Q1, Match Group revenue grew 9% YOY to $860M. Tinder direct revenue increased 9% YOY to $481M. However Tinder payers declined 9% YOY to just under 10M, due to the continuing effects of last year's price optimizations and MAU declines. Tinder payers were down ~255K on a sequential basis. Subscription revenue grew 17% YOY while à la carte revenue, which comprises ~20% of Tinder's direct Revenue, fell 13% YOY primarily due to MAU declines and lower purchase volumes per user. Hinge direct revenue grew 50% YOY to $124M, driven by a 31% increase in payers to 1.4M. Hinge continued to resonate with users in English-speaking and Western European markets, with total downloads across all markets growing 20% YOY in Q1. Match Group Asia businesses' revenue declined 6% YOY to $71M. Direct revenue growth at Azar was more than offset by continued declines at Pairs and Hakuna. Q1 Operating Income was $185M, down 7% YOY.
EKN – Hyperconnect celebrates its 10th anniversary with a focus on global challenges. Known for innovative AI and video tech, it aims to continue connecting users worldwide. Notable platforms include 'Azar' and 'Hakuna Live'. With a tech-driven approach and strategic partnerships, Hyperconnect remains committed to enhancing global connectivity. CEO Linda Kim emphasizes the company's dedication to innovation and addressing evolving market needs.
PR NEWSWIRE – Hyperconnect's real-time video communication platform, Azar, experienced significant Q3 download growth in the European market, achieving double-digit YoY download rates in France (60%), Germany (32%), and the UK (72%), according to Sensor Tower. Azar, allowing communication without country or language restrictions, ranked first in the Apple App Store's social networking category across 5 countries in Oct 2023. The platform's growth in Italy and Spain, with rates of 17.7% and 18.5%, respectively, also contributed to its success. Hyperconnect's strategic local marketing activities, such as participating in music festivals and hosting offline events, supported Azar's rapid expansion in the European market.
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MATCH GROUP – Aug 4 – Total revenue grew 27% YOY to $708M. Operating income was $210M, up 7% YOY. Adjusted EBITDA was $263M, up 15% YOY. Payers increased 15% to 15M, up from 13M last year. Tinder Direct Revenue grew 26% YOY, driven by 17% Payers growth to 9.6M. All Other Brands collectively grew Direct Revenue 28% YOY. In Q2 Match Group closed the acquisition of Hyperconnect, which brings two new brands into its portfolio – Azar and Hakuna. Combined, these two brands have ~570K Payers with RPP approaching $35 and ~90% of their revenue coming from à la carte. Azar, launched in 2014, enables users to video chat with people around the world, powered by real-time language translations. The user base is predominantly in Asia and growing in Europe. Hakuna, launched in 2019, is an interactive, social live streaming app that enables group video and audio broadcast. For Q3, Match Group expects total revenue of $790M to $805M, representing 23%-26% YOY growth.
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WALL STREET JOURNAL – Mar 6 – Dating apps are taking a platonic turn. An analysis by venture-capital firm Andreessen Horowitz showed friend discovery is the fastest-growing category of mobile social apps in the U.S. Citing data from Apptopia, with friendship apps like Itsme, Wink and Yubo being the fastest-growing apps nationwide. Bumble BFF accounted for 9% of its total monthly active users as of Sep 2020. That traffic seems to have come mostly organically. Match Group has also been chasing friendships and other platonic connections. It estimates this market is twice the size of dating. Match Group paid $1.7B in cash and stock for South Korean social-media company Hyperconnect in its biggest acquisition ever. Hyperconnect is already generating profits and did $200M in revenue in 2020, up 50% YOY. Hyperconnect owns two video apps in Azar, which is the highest grossing one-to-one video chat app in the world; and Hakuna, which offers group live video, audio and avatar-based streaming.
