Category: Match Group

Match Group Q3 Financial Results

Posted on November 1, 2023

Match Group logo for social mediaMATCH GROUP – In Q3 2023, Match Group reported its highest ever quarterly total revenue of $882M, a 9% increase YOY. Key financial highlights include:

  • Tinder's revenue rose by 11% YOY, reaching $509M
  • Hinge saw 44% YOY increase in revenue, amounting to $107M, driven by substantial user growth, especially in English-speaking and European markets
  • Match Group Asia and Evergreen & Emerging segments saw a decline in revenue by 5% and 3% YOY respectively
  • Operating Income stood at $244M, marking a 16% YOY growth
  • Adjusted Operating Income reached $333M, reflecting a 17% YOY growth

Tinder's Revenue growth was driven by U.S. pricing optimizations, resulting in a raised RPP of $16.28, even though there was a 6% decline in payers. Hinge's success continued, with a 33% YOY increase in payers and an RPP growth of 8% YOY. In contrast, certain brands in Asia and the Evergreen & Emerging segments experienced revenue declines.

See full article at Match Group website

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Match Partners With Calm on World Mental Health Day

Posted on October 11, 2023

Match GroupPR WEEK – Match has partnered with the meditation app Calm to support users' mental health. For World Mental Health Day, they're offering five free Calm sessions on topics like self-love and discounts on both apps. The collaboration addresses the mental challenges of online dating, especially amidst pandemic-induced anxieties.

by Eric Berger
See full article at PR Week

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Tinder Partners With Mean Girls Actor Jonathan Bennett to Help Users Avoid Online Fraudsters

Posted on October 4, 2023

MATCH GROUP – Tinder is collaborating with "Mean Girls" actor Jonathan Bennett and Advocating Against Romance Scammers to raise awareness about online financial scams. October 3rd has been designated World Romance Scam Prevention Day. The campaign warns users about the dangers of online scams, particularly the growing trend of crypto scams. Tinder and Hinge are emphasizing the importance of users not sending money or taking investment advice from unfamiliar individuals. The initiative is part of Match Group's ongoing commitment to user safety across its platforms.

See full article at Match Group website

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JPMorgan Analyst Recommends Investing in Match Group, Citing Tinder’s Growth

Posted on September 14, 2023

TinderBLOOMBERG – JPMorgan analyst Cory Carpenter advises investors to invest in Match Group, anticipating that its Tinder app will see double-digit growth in the upcoming quarter. Carpenter upgraded his price target for Match from $55 to $60, despite negative investor sentiment, and dubbed it his "top pick" over competitor Bumble. He argues that concerns about market saturation in online dating are exaggerated and predicts a 10% compound annual growth rate for the industry through 2026. While Bumble's shares have declined, Match has gained ~3% in 2023.

by Joel Leon
See full article at Bloomberg

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Match Group Releases Its Guiding Principles for Integrating AI Into Its Dating Apps

Posted on September 12, 2023

Match GroupFAST COMPANY – Match Group has outlined seven guiding principles for integrating AI into its platforms. These principles focus on authenticity, equity, explainability, accountability, safety, privacy, and integrity, with a commitment to ethical and responsible innovation while using AI to enhance user experiences.

by Jessica Bursztynsky
See full article at Fast Company

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Dating Apps Put a Hefty Price Tag on Finding Love

Posted on August 28, 2023

Hinge XWALL STREET JOURNAL – Hinge recently added a plan at $50/mo, and is examining a plan for Tinder at ~$500/mo. Bumble is considering a tier above its $60/mo plan. Grindr plans to add more premium offerings. Match has made up ground, with revenue per payer rising in the past two quarters. Bumble reported paying users rose 20% to 3.6 million in its most recent quarter from a year earlier.

Match which will roll out a superpremium tier on Tinder in the fall. "If you actually take a small fraction of our payers at higher price points, you actually get a number that's in the tens of millions of dollars on an annual basis," CEO Bernard Kim said.

Bumble CEO Whitney Wolfe Herd sees premium services delivering new opportunities. "We see that there's a lot of runway to expand there."

Even if uptake is slow, there is precedent behind the move to raise prices. Mark Brooks, CEO of Courtland Brooks, which helps online dating companies grow, said that other brands, such as eHarmony and Tawkify, have for years priced their premium services above what Tinder, Hinge and Bumble charged. The stakes are high in showing users that paying is worth it, Brooks said. Otherwise, they could defect to competing platforms. "They've got to actually really deliver on it, because they'll get crucified if they don't," said Brooks.

by Denny Jacob
See full article at Wall Street Journal

Taru Kapoor Is Leaving Tinder

Posted on August 25, 2023

Tinder Taru KapoorAFAQS – She was working as the General Manager for Tinder and Match Group in India. In a LinkedIn post, she said that she will be finishing up over the coming weeks. Kapoor joined Tinder as India's General Manager in 2015, and was promoted to General Manager of South Asia and Turkey for Match Group in 2018. Kapoor launched and established Tinder's operations in India.

See full article at Afaqs

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AI’s Growing Role in Online Dating

Posted on August 25, 2023

AI in online datingINTELLIGENCER – Online dating fatigue is pushing platforms like Match Group, which operates Tinder and OkCupid, to integrate AI for a better user experience. Match Group aims to use AI for photo selection and matchmaking insights. However, AI tools like ChatGPT are already used by some users to enhance their profiles. As AI becomes more prevalent, concerns about authenticity and an optimization "arms race" arise. The future of AI-driven dating remains to be seen.

by John Herrman
See full article at Intelligencer

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Match Group Bolsters Dating Apps With AI, Appoints Former Zynga Exec

Posted on August 23, 2023

Match GroupTECH CRUNCH – Match Group, responsible for apps like Tinder and OkCupid, is boosting its AI efforts. They've hired former Zynga executive, Mark Kantor, to spearhead innovations. Kantor's team, named ASL (Art x Science Lab), will delve into generative AI to improve user experience. Initiatives include an AI-driven photo selector for Tinder and the potential for AI-generated dating bios.

by Amanda Silberling
See full article at Tech Crunch

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Background Check Provider Garbo Ends Its Partnership With Match Group

Posted on August 18, 2023

Tinder Garbo background checksTECH CRUNCH – Tech nonprofit Garbo has ended its collaboration with Match Group, which began in 2021 to enhance user safety. Garbo offered background checks focusing on violent histories for Match's apps, including Tinder. However, after criticisms and reported internal disagreements, Garbo is ceasing its background check service to concentrate on new digital safety technologies. The move comes amidst leadership changes at Match and differing views on the implementation of Garbo's tools. Garbo expressed disappointment in Match Groups' lack of commitment.

by Sarah Perez
See full article at Tech Crunch

Also read the Wall Street Journal article

Mark Brooks: Background checks are a very tough nut to crack and require extremely nuanced knowledge on how to combine numerous databases to properly serve our dating context. This challenge remains undone, but there are a couple of promising providers.

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