Category: Match Group

Tinder to Pull out of Russia, Citing Human Rights Concerns

Posted on May 2, 2023

TinderEURONEWS – Match says it will withdraw from the Russian market altogether by 30 June in an effort to uphold its stated commitment to respecting human rights. Match has previously come under pressure to store Russian users' data and messages in Russia in compliance with intelligence service requirements, raising concerns that LGBTQ users in particular could see their data shared with a notoriously hostile government. Like several other western social media giants, the company has refused. Last summer, it was fined 2M roubles (€22,868) by a Moscow district court in a case brought against several platforms including WhatsApp, Snapchat, Spotify and Hotels.com. Match's withdrawal from Russia has been relatively slow compared to some other players in the online dating marketplace. Bumble announced it was blocking app downloads in both Russia and Belarus in March 2022.

See full article at Euronews

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Match’s FTC Investigation Over OkCupid Photo Sharing for Facial Recognition Tech Continues

Posted on May 2, 2023

OkCupidCOURTHOUSE NEWS – A federal court in Washington denied Match Group's request to seal the case brought against it by the FTC regarding its deal to provide OkCupid's images to a start-up developing facial recognition technology. The New York Times published an article in July 2019 about the use of images of people's faces to build facial recognition technology, citing Clarifai's access to OkCupid's photos as an example. This prompted the FTC to initiate a non-public investigation into whether Match engaged in unfair competition by sharing consumer information, including photos, of OkCupid users.

See full article at Corthouse News

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Muzz Loses Appeal Against Match Group

Posted on May 2, 2023

Muzz Loses Appeal Against Match GroupBBC.COM – The Court of Appeal upheld a June 2022 ruling that the average consumer would have thought Muzmatch – now Muzz – was part of Match Group, which also owns Tinder. Muzz has criticised the ruling, calling the legal action "deeply worrying for other start-ups in the dating sector". Muzz launched in the UK in 2015 as Muzmatch, a dating app specifically for Muslims. Match Group has attempted to purchase the business on four separate occasions, including making an offer of £28M ($35M), which was turned down.

See full article at BBC

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Why Are Most Dating Apps So Similar to Each Other?

Posted on May 2, 2023

Dating apps for social mediaMAKE USE OF – Dating apps often seem similar due to several factors. Firstly, many mainstream apps like Tinder, Match, OKCupid, and Hinge are owned by the Match Group, which dictates the overall approach and design of these platforms. Secondly, the freemium model, where basic services are free but premium features are locked behind a paywall, is common across the industry, leading to similar user experiences. Mobile optimization for smaller screens and a need for a mass appeal also contribute to a uniform design language. Additionally, many users are on multiple platforms, which might make the experience feel repetitive. Lastly, the lack of a foolproof algorithm for successful matching and the apps' desire to keep users engaged leads to the use of similar gamified elements across platforms. Despite these similarities, subtle differences might make one app more suited to a user than others.

by Megan Ellis
See full article at Make Use Of

Underdog Muzz Stands Defiant Against Match Group’s Intimidation Tactics in Trademark Dispute

Posted on May 2, 2023

Muzz logoARABIAN BUSINESS – Muzz, the world's largest Muslim dating app, has accused Match Group of aggressive intimidation tactics following a lengthy legal battle. Muzz recently lost its trademark in a UK appeal and was forced to change its name. Match Group is accused of using this power to intimidate other players, especially those with fewer resources for legal defense. Despite settling in the US and rebranding from muzmatch to Muzz, the UK appeal failed. Muzz has now urged the Federal Trade Commission to investigate Match Group's anti-competitive behavior. Match Group had reportedly attempted to acquire Muzz four times and subsequently filed a complaint when they didn't get the acquisition. Muzz views these actions as a calculated attempt by Match Group to maintain its dominance by litigating smaller competitors. The legal battle has been draining for Muzz, both personally and professionally, with costs approaching $2M.

by Tala Michel Issa
See full article at Arabian Business

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Match Group to Release Q1 Results and Analysts Predict Strong Future Growth

Posted on April 26, 2023

Match GroupBESTSTOCKS – Match Group is set to release its Q1 earnings data on May 2nd, with expected earnings of $0.40 per share for the quarter. Analysts have provided various ratings and price targets, with the average rating being "Moderate Buy" and an average price target of $70.38. The company's Q1 report could show progress toward growth targets and boost investor confidence in its position in the online dating market.

by Elaine Mendonça
See full article at Best Stocks

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Malgosia Green Will Lead Match Group’s Asian Expansion

Posted on April 17, 2023

Match Group Malgosia GreenFAST 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.

by Jessica Bursztynsky
See full article at Fast Company

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Institutional Investors Adjust Stakes in Match Group Amid Dating Industry Stock Turbulence

Posted on April 17, 2023

Match GroupBEST STOCKS – AustralianSuper Pty Ltd, an institutional investor, recently reduced its stake in Match Group by 89.1% during Q4 2022, selling ~2M shares. Match Group has seen significant activity from institutional investors and hedge funds. True Signal created a new stake valued at $971K, Xponance saw an 11.2% growth in its holdings, and Ieq Capital increased its shares by 240.4% in Q3. Other new shareholders include Louisiana State Employees Retirement System and Calamos Advisors. As of April 16, 2023, 93.53% of Match Group's stock is owned by institutional investors and hedge funds.

by Yasmim Mendonça
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Muzz Fights Third Lawsuit from Match Group and Calls for FTC Investigation

Posted on March 27, 2023

Muzmatch MuzzLINKEDIN – Match Group has sued Muzz (formerly muzmatch) for the third time over a patent related to digital matchmaking (Patent 666 – "Matching Process System and Method"), day after their appeal hearing in the UK. Muzz asserts that it declined Match Group's acquisition offers and has invested ~$1M in countering their legal actions. Muzz is calling on the Federal Trade Commission to investigate Match Group's dominant position and treatment of competitors.

See full post at LinkedIn

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Survey Shows 80% of Young Adults in Japan Did Not Date During the Pandemic

Posted on March 23, 2023

Pairs logoPRESS RELEASE – Eureka, a subsidiary of Match Group and the operator of Japan’s Pairs dating app, conducted a survey to study changes in young adults’ attitudes toward love this spring. The survey of 1,000 respondents found that 50% are eager to go on a date that would lead to a romantic relationship this spring. Additionally, 88.5% of respondents are using a dating app. Of those who were still single, 80% claimed that they did not go on a date during the pandemic.

See full article at PR Times

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