YAHOO LIFESTYLE – Gen Z and millennials are using voice notes before first dates to gauge personality and interest, a trend that surprises older generations. Hinge reports voice note conversations are 87% more likely to lead to a date, with users finding them helpful in assessing compatibility.
Category: Hinge
Dating App Ad Spending in 2024 Set to Surpass 2023, With Bumble Leading the Charge
Hinge CEO Says He Bribed Students With KitKats
FORTUNE – Justin McLeod, founder of Hinge, started the dating app while at Harvard Business School. Initially struggling to attract users, he bribed students with KitKats and managed to attract only a few dozen sign-ups daily. To fund the app, McLeod collected checks of $5K to $10K from anyone willing to invest. He even deferred a job offer from McKinsey with a six-figure salary to focus on Hinge, eventually turning it into a success. By 2015, Hinge raised $26M before being acquired by Match Group. Today, McLeod remains Hinge's CEO, with the app earning $396M in 2023. He advises Gen Z entrepreneurs to balance idealism with practicality, encouraging them to take action rather than overthink their career paths.
Hinge Introduces ‘Your Turn Limits’ to Boost Responsiveness and Quality Matches
HINGE – Hinge has launched "Your Turn Limits," a feature aimed at increasing responsiveness by requiring users with many unanswered messages to respond or end conversations before connecting with new matches. In testing, it boosted responsiveness by 20%, with 48% of users focusing more on quality over quantity of matches.
Activists Push for Change at Match Group Following Post-Pandemic Slowdown and Valuation Drop
FINANCIAL TIMES – Starboard Value revealed in July that it had built a 6.6% position in Match Group. Elliott Investment Management, according to S&P Global Market Intelligence, amassed a stake of 4.5% earlier this year and got Match to add two new board members and sign an information-sharing pact. Anson Funds Management, a smaller fund, also has a stake. Activists have good reasons to push for change. Dating apps enjoyed a surge in popularity during Covid-19 but have struggled with a post-pandemic slowdown in growth. At its 2021 peak, Match was worth ~$50B. Its value now stands at just $9.3B. Bumble, which went public in 2021, is down 90 % since its IPO. Match still remains highly cash-generative, with $829M in free cash flow last year. Starboard thinks there is an upside if Match can turn around Tinder, cut costs and ramp up buybacks. The activist sees potential in Hinge. However, it also urged Match to consider selling itself if it cannot revitalize the business.
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Gen Z and Millennials Are Leaving Tinder for Hinge in Search of Serious Relationships
FORTUNE – 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
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Dating Apps Develop AI ‘Wingmen’ to Generate Better Chat-up Lines
Hinge’s New Campaign Highlights Real Love Stories as Users Delete the App
THE DRUM – Hinge's latest campaign, "The Moment I Knew," features five short films and outdoor ads showcasing real-life relationship stories where couples realized they no longer needed the app and deleted it. Each film ends with Hinge's mascot, Hingie, humorously meeting its end. The campaign, part of "Designed to be Deleted," highlights the app's goal of helping users find lasting love. The visuals, captured by photographer Marie Tomanova, combine genuine, quirky moments with a touch of humor.
Hinge Turns Real-Life Matches Into BookTok-Inspired Romance Stories
Video – Dating Apps ‘Have to Go Back to the Drawing Board’ for Gen Z
YAHOO FINANCE – Dating apps struggle to adapt to Gen Z preferences, favoring in-person connections over traditional swiping. While Grindr has thrived due to its broad social features within the gay community, other apps like Bumble and Tinder are rethinking their strategies to better resonate with younger users. Hinge has found success by focusing on serious relationships rather than swipe-based interactions. Despite Gen Z's shift toward offline interactions, dating apps still see growth, but they must innovate to remain relevant in this evolving market. Grindr shares are up by over 38% year-to-date, while Bumble is down by 58% in that same window. Match Group is down ~6% in 2024 but has seen a slight uptick in its share price over the past month.