Match Group – Page 17 – Online Personals Watch

Match Group Tells Users to Verify Their Profiles in Order to Go on More Dates

Posted on February 8, 2024

PR NEWSWIRE – Match Group's platforms will send users coordinated reminders to Photo Verify their profiles utilizing Photo Verification with a selfie video or the platform's verification tools. Verified profiles often receive better engagement, according to Match Group. At Hinge, users with profiles that are Selfie Verified go on ~200% more dates globally than those with unverified profiles. On Tinder – in the 18-25 age group – being Photo Verified bumps up their chance to match by 10% as users feel more confident that their potential match is genuine and looks like their photos.

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Match Group Hasn’t Yet Decided if It Will Opt Into Apple’s New DMA Rules

Posted on February 1, 2024

TECH CRUNCH – Match Group is undecided about adopting Apple's new Digital Markets Act (DMA) rules in the EU, which allow for alternative app stores and third-party payments. During their Q4 2023 earnings call, CEO Gary Swidler expressed uncertainty about how the new regulations would affect their business, similar to concerns raised by Spotify and Microsoft. Apple's compliance with the DMA involves a new commission structure, including a "Core Technology Fee" for those opting in. Critics argue that these rules may not offer the expected benefits in an open app market. However, the European Commission has yet to accept Apple's proposal, leaving room for changes.

by Sarah Perez
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Match Group Reports Q4 2023 Results

Posted on January 31, 2024

MATCH GROUP – Total revenue grew 10% YOY to $866M. Tinder revenue was up 11%, while collectively other brands' revenue was up 9% YOY. Hinge revenue was up 50% YOY. Payers declined 5% to 15.2M. Operating income was $260M, up 144% YOY. Full year 2023 revenue grew 6% YOY to $3.4B. Operating income increased 78% YOY to $917M. Tinder expects to further drive revenue in 2024 with the introduction of weekly subscription packages in markets that were not included in 2023's initial releases. Hinge's international expansion will continue to target Europe.

See full article at Match Group website

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Dating Apps Make Push to Court ‘Generation Z’

Posted on January 31, 2024

WALL STREET JOURNAL – Match Group's Tinder has centered an entire marketing campaign on younger users, and Bumble is adding more price tiers. "We need to adjust our products to try to satisfy Gen Z a little better," Match Group's CFO Gary Swidler said in November. Online dating growth, particularly in markets like the U.S., hasn't meaningfully increased in recent years due to a lack of product innovation, said Cory Carpenter, analyst at J.P. Morgan. Established apps are fighting over the same-sized pie as a result while also dealing with new competitors. Users, increasingly frustrated with dating apps, have found successful connections on online platforms not intended for romance like language-learning platform Duolingo.

by Denny Jacob
See full article at Wall Street Journal

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Match Group Board Approves New Buyback Program of $1B

Posted on January 31, 2024

MARKETWATCH – Match Group received approval for a new buyback program of $1B that replaces its current authorization. The latest authorization comes as Match is dealing with a set of distinct challenges. The company has seen paying users decline for five consecutive quarters, partly in response to changes to the price of its subscriptions. This has fueled concerns about saturation in the online dating space and weighed on its stock price, which has fallen 30% over the last 12 months.

by Denny Jacob
See full article at Marketwatch

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Match Group’s BLK Encourages Black Women to Be Themselves

Posted on January 25, 2024

CAMPAIGN US – BLK, a Match Group dating app, has launched the #RealNotPerfect campaign to empower Black women to embrace authenticity in every aspect of life. The campaign, featuring a series of videos, encourages members to be unapologetically Black and showcases individual stories of Black women overcoming challenges. Users are invited to pledge authenticity, receiving a badge on their profile. Over 8,000 people have joined the campaign so far.

by Sabrina Sanchez
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Ads for Match Group Ran Alongside Disturbing Content on Meta’s Platforms

Posted on January 12, 2024

CNN NEWSSOURCE – Meta advertisers, including Match Group and Walmart, have raised concerns to the tech giant about their ads appearing alongside disturbing sexual content, New Mexico Attorney General Raúl Torrez alleged in an updated complaint in his lawsuit against Meta. The updated complaint comes after Torrez sued Meta and CEO Mark Zuckerberg last month, accusing the company of creating a "breeding ground" for child predators. The lawsuit alleges that Meta exposes young users to sexual content and makes it possible for adult users they don’t know to contact them, putting children at risk of abuse or exploitation. Match Group's CEO allegedly reached out directly to Zuckerberg to note that "Meta is placing ads adjacent to offensive, obscene – and potentially illegal – content, including sexualization of minors and gender-based violence," and said that Match had cut its advertising spending on Meta's platforms.

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Match Group Promotes Faye Iosotaluno to Tinder CEO

Posted on January 10, 2024

TECH CRUNCH – Match Group has named Faye Iosotaluno as the new Tinder CEO, two years after the previous CEO Renate Nyborg left the company in August 2022. During that time, Match Group CEO Bernard Kim held the position. Iosotaluno has been working at the Match Group since 2017. She was promoted from the company’s chief strategy officer position to Tinder’s chief operating officer in 2022 when Nyborg departed. Nyborg is now building an AI companion startup backed by Sequoia and Andrew Ng’s AI Fund.

by Ivan Mehta
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Match Shares Surge on Report Activist Investor Elliott Takes $1B Stake

Posted on January 10, 2024

CNBC – Shares of Match Group surged up to 12% after reports that Elliott Management, a prominent activist investing firm, had acquired a ~$1B stake in the company. This surge came amidst Match's recent struggles with leadership changes and slowing growth, following a period of rapid expansion during the early days of the COVID-19 pandemic. Elliott, known for its successful engagements with major tech companies, is expected to interact with Match's management, though specifics of this involvement are unclear. Match has experienced significant CEO turnover, with seven CEOs since 2012. While some analysts remain optimistic about Match, its stock performance and leadership stability are areas of focus. Elliott's history includes notable campaigns with Salesforce, Pinterest, Crown Castle, and Phillips 66.

by Rohan Goswami
See full article at CNBC

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Elliott Investment Management Acquires $1 Billion Stake in Match Group

Posted on January 9, 2024

BLOOMBERG – Elliott Investment Management has built a stake of ~$1 billion in Match Group. The activist investor plans to push the online dating company to take steps to boost its stock price. Shares of Match Group have fallen 10.5% in the past year, leaving it with a market value of about $10.3 billion.