FAST COMPANY – Malgosia Green is three months away from uprooting her life in Vancouver and fully immersing herself in Singapore as CEO of Match Group Asia. She was appointed to the newly created role earlier this year by Match Group CEO Bernard Kim. Prior to taking over as CEO of Match Group Asia, Green led Plenty of Fish for five years. Malgosia Green will be focusing on expanding the company's presence in Asia, particularly in Japan, where there is significant potential for growth. ~50% of women and 70% of men in their 20s in Japan are single, according to a 2022 white paper from the Japanese Gender Equality Bureau. Green also aims to bring the Hinge app to new Asian markets in the coming quarters. It currently operates in India. Much of Green's mission is focused on Hyperconnect, the Seoul-based social media and video tech company Match acquired in 2021 for $1.73B. Part of that development will be in AI, Green says.
Category: Hinge
Hinge Is Rolling out Its $50 per Month Subscription Today
Love You on Tinder. On Hinge, Not So Much.
NEW YORK TIMES – With many dating apps available to suit virtually any preference, each with its own unofficial norms and expectations, it's no surprise that users modulate their personalities from one dating app to the next. Whereas an app like Hinge incentivizes leading with details that suggest users are serious about finding a relationship, an app like Feeld welcomes those who put their kinkiest foot forward. Users adjust accordingly. David Coursi, a 29-year-old copy editor at an advertising agency, said that he almost had a missed connection with one woman he first matched with on Tinder – until she found him to be more appealing on Hinge.
by Gina Cherelus
See full article at New York Times
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Match Group Q4 2022 Results
MATCH GROUP – Total Revenue declined 2% YOY to $786M. Operating income was $107M, a 54% decrease YOY. Payers declined 1% to 16.1M. Tinder direct revenue was flat over the prior year quarter with 3% payers growth to 10.8M. All other brands collectively had a direct revenue decline of 5% YOY driven by an 8% payers decline. Hinge revenue grew 30%YOY.
Match Group Forecasts Q1 Revenue Below Expectations
REUTERS – While a tough economy and a stronger dollar had also crimped its business, poor product execution at Tinder was the "significant" culprit, Match said. Dating app Hinge's business was also hit by product delays, among other headwinds. Shares of Match Group fell ~11% in trading after the bell. Match reaffirmed its 2023 revenue growth forecast of 5% to 10%. It expects revenue growth to reach double digits by the fourth quarter on increasing momentum in the second half. The company forecasts Q1 revenue between $790M and $800M, lower than analysts' estimates of $817.3M. Revenue fell 2% to $786M in Q4, also missing expectations of $787.3M. Total payers fell 1% to 16.1M.
by Vansh Agarwal & Shreyaa Narayanan
See full article at Reuters
Match Shares Rise 5.5% on Hinge’s Pricier Membership Testing
MARKETWATCH – Match Group shares edged up 5.5% to $50.48 following news that a higher priced ($50-$60) membership tier for its Hinge dating app is being tested. However, Match's stock price is down 57% over the last 12 months.
Hinge Tests $60 Plan for ‘Motivated Daters’
BLOOMBERG – Hinge sees new opportunity for fast-growing Gen-Z users. Meanwhile, Tinder is testing user interest in new $500 monthly plan. Hinge has a $35 a month offering. The new $50-$60 price offering will be introduced globally in Q1 to offer "highly motivated daters" enhanced features to boost their exposure. The people that subscribers "like" will be seen faster by other users and the offering will provide better recommendations of profiles Hinge thinks the user will be most interested in.
by Michael Tobin
See full article at Bloomberg
Mark Brooks: Many years ago POF tested its first paid offering. For $6 a month, users could get a big round badge on their profiles saying 'serious dater.' That was it. No other benefits. It did well. On the whole, we're leaving money on the table, and users with more money and motivation, and less time, will spend considerably more.
Hinge Allows Users to Add Their “Relationship Type” to Their Profile
TECH CRUNCH – Hinge rolls out a feature that allows users to add their "Relationship Type" to their profile, whether that be "monogamous," "non-monogamous," or "figuring out my relationship type." The update lets users express precisely what they’re looking for to more efficiently minimize unsuited matches. Like Hinge's "Dating Intentions" profile feature, there's a "Backstory" open-text option, so users can add more context about their relationship type.
Match Could Gain From Hinge’s Sustained Growth and Tinder Recovery
BENZINGA – Match Group said Q3 revenue increased 1% YOY to $810M, which beat average analyst estimates of $795M. Paying users increased 2% YOY to 16.5M. Match Group plans to focus on Tinder growth as it heads into 2023. Match Group expects Q4 revenue to be between $780M and $790M. Keybanc analyst Justin Patterson views Match as an improving execution story that should benefit from sustained growth at Hinge and a recovery in Tinder. He views 2023 guidance for 5-10% revenue growth and at least flat margins as reasonable.
by Anusuya Lahiri
See full article at Benzinga
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Hinge Will Try to Thwart Scammers With Video Verification
WIRED – Hinge will begin rolling out video selfie verification, next month. Hinge will ask users to take a video selfie within the app to confirm they are real. Match Group then plans to use machine learning technology and human moderators to compare facial geometries from the video selfie to photos on the user's profile. Once the video is confirmed as authentic, a user gets a "Verified" badge on their Hinge profile.