ECONOMIC TIMES – Organic traction for its dating app Hinge is exceptionally strong in quite a few untapped international markets and it has huge potential globally, the company said. "We've seen a recent surge in organic traction in India without any localization. So, we want to respond to these types of positive signals, and we are accelerating our launch in India," Shar Dubey, CEO of the Match Group. The app is on track to launch in its first non-English speaking market, Germany, in the Q2.
Category: Match Group
Match Group Google Play Store Complaint Triggers Dutch Antitrust Probe
TECH CRUNCH – A competition complaint against Google's Android Play Store by Match Group, has led to a preliminary investigation by the Netherlands' Authority for Consumers and Markets (ACM) into whether the tech giant is abusing a dominant position. "Dating-app providers allegedly are no longer able to use a payment system other than Google's payment system. In addition, dating apps claim they are no longer allowed to refer to other payment methods either," the ACM said. A Google spokesperson said: Match Group's apps are eligible to pay just 15% on Google Play, which is the lowest rate among major app platforms. But even if they don't want to comply with Google Play's policies, Android still provides them multiple ways of distributing their apps to Android users, including through other Android app stores, directly to users via their website or as consumption-only apps.
Match Names Zynga President Bernard Kim as CEO, Replacing Shar Dubey
TECH CRUNCH – Just over two years after assuming the top exec position, Match CEO and 16-year employee Shar Dubey is stepping down. Shar Dubey will remain on the company's board and continue to serve as an advisor. Bernard Kim, the current president of Zynga, will become CEO effective May 31 and will join Match's board of directors. Kim has been president of Zynga since 2016 and has overseen a number of key functions, including global marketing, user acquisition, revenue, consumer insights, data science, product management, mergers and acquisitions, and communications.
by Sarah Perez
See full article at Tech Crunch
Mark Brooks: Mr Bernard Kim's experience in gaming is no doubt indicative of where Match will go next. A more gamified, engaging, and immersive Internet dating experience. Match must get AI/VR right, for what I think will be the next big critical media shift.
Match Group Q1 Results – Revenue up 20%, New CEO
MATCH GROUP – Total Revenue grew 20% YOY to $799M. Operating income was $208M, an increase of 10% YOY. Payers increased 13% to 16.3M, up from 14.4M in the prior year quarter. Tinder Direct Revenue grew 18% YOY, driven by 17% payers growth to 10.7M. All Other Brands collectively grew revenue by 22% YOY driven by 14% RPP growth and 7% payers growth to 5.6M.
Key points from Match Group's letter to shareholders:
- Match Group CEO Shar Dubey is stepping down. She will remain as a director and advisor to the company, and Bernard Kim will resume his role as CEO.
- Match Group has published its 2nd annual Impact Report to share its progress on social, environmental, and governance initiatives.
- In Japan, Tinder launched a co-marketing campaign with Netflix for the dating reality TV show Love is Blind: Japan.
- Tinder Coins, its in-app virtual currency, is on track to launch globally this summer.
- Hinge is on track to launch in its first non-English speaking market, Germany, in Q2.
- Hinge is on pace to more than 10x revenue from 2019 to 2022.
- Match, Meetic, Pairs, and POF all successfully leverage tech features from Hyperconnect into their products.
Is Meta Platforms About to Acquire Match Group?
INVESTORPLACE – Rumors heat up that Meta is looking to acquire Match. MTCH stock is up more than 6% today as a result. Current reports guess that Meta or Twitter could each be pursuing Match. However, given today's news that Twitter is accepting Elon Musk's offer to acquire the company and take it private, at the moment it's unclear if the rumors over Match will prove to be anything more. Investors and activists may well be waiting for its fiscal first-quarter earnings call next week to take any definitive steps.
Match Wins Trademark Case Against Muzmatch
NEW YORK TIMES – A London court ruled that Muzmatch infringed on Match trademarks, on Wednesday. Match Group ($3b revenue, 16m paying users) sued Muzmatch for infringing on its trademarked logo, using "match" in its name, and "unfairly benefiting" from the company’s reputation and investment in its brand. The ruling, from London's Intellectual Property Enterprise Court, could mean Muzmatch (6m users, $9m financing) must change its name and pay damages. Founder/CEO, Shahzad Younas, said Muzmatch would appeal. Match objected to the trademark registration for "Muzmatch" in Europe and the United States in 2016. Match also objected to the use of a heart and the font in Muzmatch's logo at the time, which were eventually removed. Match made approaches to buy the company, eventually offering up to $35m in 2019. Mr. Younas turned the offer down. Later that year, Match acquired Harmonica, a Muslim dating start-up in Egypt. "This is just their tactic," he said. "They'll court you, they'll get your data, they'll try and buy you, and when that doesn't work, they'll either go after a competitor or they'll just kill you," Mr. Younas said. "A million dollars for them in legal fees is small change. For us, it's everything."
by Aina J Khan
See full article at New York Times
Mark Brooks: I sympathize with Shahzad and Muzmatch. However, Match has to defend its name and trademark, along with its IP. It's simply not an option for them to not. Therefore, if you have a niche+match or match+niche type name, and anything in the way of scale and an official trademark application, then Match may well come simultaneously knocking, with guns cocked. This of course impairs your M&A valuation. Best to steer well clear of Match in your name in the context of Internet dating. The precedent is set. Match will sound and then fire its cannons at you if you encroach on their apparent domain. This may be unfair, but at least it is predictable.
Muzmatch Loses Legal Fight Against Match Group
MUZMATCH – Muzmatch, the biggest Muslim dating and marriage app, has lost a long court battle with Match Group over its name the company has been using since 2011. Match Group first reached out to Muzmatch in 2016, objecting to its trademark registration for MUZMATCH. They proposed a settlement agreement if Muzmatch promised not to sell the company to a competitor. Muzmatch refused. In 2017, they reached out again with an offer to acquire muzmatch. The two companies talked multiple times and four offers were made (max $35M) which didn’t value Muzmatch fairly, according to founder and CEO, Shahzad Younas. Match Group group has then resorted to the last tool of giant conglomerates with huge legal teams – litigation. This month (April 2022), the judge ruled in Match Group’s favour, stating in his view the word ‘match’ is distinctive of match.com since 2011 (the year muzmatch was born).
Visible and Match Group Team up to Offer a Registry for Singles This Wedding Season
PR NEWSWIRE – Visible, the Verizon-owned all-digital wireless carrier, and Match Group are joining forces to create a limited-time Singles Registry where users can sign up to receive gifts and send them to the special singles in their lives. Anyone can visit VisibleSinglesRegistry.com and build their own wish list from a curated selection of items just for singles. The registry will be live from April 4th – April 30th. As part of this campaign, Visible is donating $10K to Girls Who Code, an international nonprofit working to close the gender gap in technology.
Women in Business With CEO of Match Group, Shar Dubey
IHEART – This week, Chelsea Clinton is sitting down with Match Group CEO Shar Dubey. They discuss the state of women in business, the progress we’ve made (and lost), the impact of COVID-19 on women in the workplace, and what needs to happen next to achieve equality in this industry and beyond.
Match Group Avoids $844M in FTC Claims on Judge’s Ruling
BLOOMBERG – Match Group won't have to pay $844M sought by federal regulators who accused the company of defrauding customers by failing to screen out fake accounts and messages. U.S. District Judge Ed Kinkeade in Dallas dismissed most of the Federal Trade Commission's 2019 lawsuit, saying the Communications Decency Act protects Match as an online publisher. Match must still defend against the FTC's remaining claims, including that Match.com tricks users into subscribing by offering satisfaction guarantees with hidden strings, and that the app's confusing and complicated online cancellation process continues billing customers who think they've canceled their accounts. The FTC also claims Match.com prematurely cuts off some subscribers' access if they complain about the service.