Category: Match Group

Tinder to Kill Virtual Currency, Management Changes

Posted on August 3, 2022

Tinder for social media2TECH CRUNCH – Match Group announced a series of changes to Tinder's management team alongside the announcement of disappointing Q2 earnings. Notably, Tinder CEO Renate Nyborg will be departing the company after less than a year in the top job. Match Group is also killing Tinder's plans to adopt new technology, like virtual currencies and metaverse-based dating. Alongside the departure of Nyborg, Tinder will have a reorganized management team that also includes:

  • Faye Iosotaluno, formerly Match Group's chief strategy officer, as Tinder's COO
  • Mark van Ryswyk, as Tinder's chief product officer.
  • Melissa Hobley, formerly OkCupid's CMO, as Tinder's CMO.
  • Tom Jacques, as Tinder's chief technology officer.
  • Advisor Amarnath Thombre. The current CEO of Match Group Americas and 15-year Match Group veteran will advise the Tinder management team on product roadmap and growth.

by Sarah Perez
See full article a Tech Crunch

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Match Q2 Results

Posted on August 3, 2022

Match Group for social mediaMATCH GROUP – Total Revenue grew 12% YOY to $795M. Operating loss was $10M driven by a $217M impairment of intangibles relating to the Hyperconnect acquisition. Operating income was $286M, up 9% YOY. Payers increased 10% to 16.4M, up from 15M in the prior year quarter. Tinder direct revenue grew 13% YOY. All other brands collectively grew direct revenue 12% YOY.

See full article at Match Group website

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How an Indian Woman Revolutionised the Way Couples Hook up

Posted on August 2, 2022

Match Group Shar DubeyTHE WEEK – Shar Dubey was CEO of Match Group. She stepped down in May but continues to be director and adviser. Raised in Jamshedpur, she was the only woman to be accepted at the Indian Institute of Technology (IIT). She then pursued a master's degree at Ohio State University and she became the first woman engineer and the first foreigner to be hired by a Pennsylvanian aerospace manufacturer. When Mandy Ginsberg called her in 2006 looking for someone to manage Chemistry, she had never laid a finger on a dating website. And yet she decided to apply. Mandy and Shar formed a duo that would last for ~15 years. Dubey strongly contributed to the transformation of Tinder into a cash machine.

by Anais Moutot
See full article at The Week

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Russian Court Fines Tinder for Data Law Violation

Posted on July 29, 2022

Match Group for social mediaREUTERS – A Russian court fined Match Group 2M roubles ($33K) for an alleged failure to store user data within Russian territory. The fine follows similar steps against WhatsApp and Snapchat.

See full article at Reuters

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Online Dating Is Great for Investors, Complicated for Customers

Posted on July 18, 2022

Online dating for social mediaWALL STREET JOURNAL – Together, Wall Street expects Match and Bumble to generate ~$4B this year. Online dating provides more specific results from a wider net. Tinder has ~10M people paying to meet someone on the app. But pitfalls abound. People use dating apps because everyone else seems to be using them. A recent study by the Marriage Foundation found couples who met online were six times more likely to get divorced in the first three years of their marriage than those who met in college or through family or friends. Romantic love may need to adapt to technology rather than the other way around.

by Laura Forman
See full article at Wall Street Journal

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Match Group Expands Background Checks to Match.com and Stir

Posted on July 14, 2022

Match.com GarboCNBC – Users on Match.com, which is popular among serious daters, and Stir, which is for single parents, will now have access to screen potential dates through the apps. Match Group has been working with Garbo, a nonprofit background check platform that shows public records including arrests, convictions and sex offender registry information, since a 2021 investment in the company. Match Group then launched a pilot program with Garbo on Tinder. Each search costs $2.50 plus a 75-cent processing fee per transaction. The company declined to comment on how many people have used the service through Tinder.

by Jessica Bursztynsky
See full article at CNBC

Mark Brooks: The RealMe is also very worthy of your consideration, and bring together a large pool of background check resources from around the world. RealMe have an industry-specific offering for the dating industry and are a client of Courtland Brooks and support OPW. See dating offering.

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CONFIRMED: Match Group Acquires The League

Posted on July 13, 2022

Match Group The League logosOPW – Match has just closed an acquisition of The League, a premium, niche dating app with a curated member base focused on matching career-oriented users looking for serious relationships. The app has an admissions-based model where potential users can apply to join by submitting their social media profiles. Users are then waitlisted until they pass a screening algorithm and review process. It can be used for free members buy a subscription, which doubles their matches.

Mark Brooks: What Should Match Group Do Next? Please join the conversation. Voice your opinion on this Swell.

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This post also appears on InternetDatingInvestments.com

Google Files Counterclaim to Match’s Antitrust Lawsuit

Posted on July 13, 2022

Match Group for social mediaTECH CRUNCH – The two tech giants have been battling it out in court after Match sued Google this May over its alleged monopoly power in Android app payments. Match is claiming Google has too much control over the Google Play app marketplace and uses anti-competitive tactics to maintain its hold on that ecosystem. Epic Games is also suing both Apple and Google. The companies largely want to offer their own in-app payment systems to avoid the commissions that come with having their apps distributed through the Google Play store and App Store. Now, Google has filed its counterclaim in this ongoing lawsuit, where it argues that Match is misleading the court in saying Google only provides payment processing fees and that Match Group seeks to access the global distribution platform for free. Plus, Google argues that its 15% fee for Match Group subscriptions is "half the amount" other major platforms charge – a reference to Apple, but misleading since both platforms reduce commissions from 30% to 15% in an app's second year.

by Sarah Perez
See full article at Tech Crunch

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Is Match Group Acquiring The League?

Posted on July 12, 2022

The league iconOPW – A little bird told us that Match Group is about to acquire The League, a dating app that connects high-achieving individuals with one another, using a selective admissions-based model. The League was launched in 2014 by Amanda Bradford. Watch this space for updates.

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Match Group Joins the United Nations Global Compact

Posted on July 12, 2022

United Nations Match GroupPR NEWSWIRE – United Nations Global Compact is the world's largest corporate initiative advancing sustainable and socially responsible business practices. By joining the initiative, Match Group has committed to sending regular updates to the UN Secretary-General tracking its progress in implementing the Ten Principles of the UN Global Compact, which focuses on fundamental responsibilities in the areas of human rights, labor, environment, and anti-corruption.

See full article at PR Newswire

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