FORTUNE – June 27 – Globally, there are 600M singles online – a number that's expected to jump to 700M by 2020 – yet the industry's biggest player by far, Match Group, is estimated to claim just 10% of that. If Match Group wants to stay No. 1, it will need to defend its turf. Those who know Match Group CEO Mandy Ginsberg say she is likely to be up to the task. She knows the industry inside and out, and she takes Match's mission almost as a personal responsibility. The company's biggest competitors include eHarmony, Spark Networks, Badoo and Bumble. Bumble claims 34M total registered users. Of its active users, roughly 10% are paid; last year the company is said to have pulled in $100M in subscription revenue. It has a Goliath-size backer: Wolfe Herd created Bumble with the help of Andrey Andreev, the founder of Badoo. Andreev owns 79%, Wolfe Herd 20% (the remaining 1% is split between two additional employees). For a few years, Tinder and Bumble coexisted but things recently turned testy. In March, Match filed its suit against Bumble, accusing it of patent infringement and stealing trade secrets. Four days later, Bumble fired back with an angry letter. A few days after that, it filed its own suit against Match, claiming Match had fraudulently obtained sensitive information during acquisition talks. But both companies were hit with a much bigger tsunami of news on May 8, when Zuckerberg made his announcement. Match Group is working on new female-friendly features, like a Gentleman's Badge, a designation recently added into its European Meetic brand that men earn through certain behaviors, such as filling out an entire profile or engaging in lengthy email correspondence; men with the badge get 33% more attention from women.
by Leigh Gallagher
The full article was originally published at Fortune Magazine, but is no longer available.
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Summarized by the IDEA team
FORBES – July 25 – After Bumble CEO Whitney Wolfe Herd left Tinder, which she also co-founded, she was determined to change the online dating game, and founded the women-empowering dating app that, while similar to Tinder in its simple photo-swiping functionality, differs from it in one very interesting way – Bumble requires the woman to make the first move.
