BUSINESS INSIDER – MatchGroup is suing Muslim-oriented dating startup Muzmatch in the UK. Match accused Muzmatch of "free-riding" off its reputation, alleging the app copied the look and feel of its logo and apps and used the word "Match" and "Tinder" in its SEO and meta tags to boost traffic. It claims users could confuse Muzmatch for its own services. Match Group has previously sued Bumble and threesome app 3nder, now called Feeld. Muzmatch's founder Shahzad Younas claimed Match's legal action came after he turned down four acquisition offers from Match in 2018 and 2019. When acquisition talks failed, Match purchased a different Muslim dating app, and sued his firm, the filings stated. The two-day UK trial took place on Monday 17 and Tuesday 18, and the judge expects a decision will be made in six weeks.
Category: Match Group
Match Group Files Multiple Lawsuits Against Muzmatch Following Failed Acquisition Offers
MUZMATCH – Match Group is suing Muzmatch in the UK with the trial set for 17th/18th Jan. "We fight, because we must. It is crucial that products built for our community are built by our community, and that we do not allow ourselves to be dictated and controlled by others", says Shahzad Younas, founder and CEO of Muzmatch, the London-based dating app for Muslims which has recently hit 5M members globally. Shahzad Younas founded Muzmatch in 2011. He quit his career as investment banker to focus entirely on his startup and learning how to build a mobile app. Muzmatch app was launched in 2015 with hundreds of new members joining globally. In 2016 Shahzad registered trademarks for MUZMATCH in the US and Europe. Match Group immediately filed an objection, saying it was passing off their match.com heart design TM. Match Group lawyers sent letters claiming they would not allow another dating company to have "match" in their name. Muzmatch revamped the brand – removed the heart logo and changed the font used in the muzmatch logo. Match Group continued to file objections to the EU Trademark. In 2017, Muzmatch was accepted to Y Combinator Summer 17 batch, raising a $1.75M seed round. In 2018 Match Group made their first offer to acquire Muzmatch for $15M. As Muzmatch continued to grow, Match Group attempted to acquire the app multiple times offering $25M in Nov '18 and $35M in Jan '19. In 2019 Match Group acquired muslim app Harmonica and sued Muzmatch in the UK IPEC courts alleging trademark infringement. Match Group also filed a lawsuit against Muzmatch in Texas this year alleging patent infringement (use of swipe gesture) and cyberpiracy (use of Muzmatch brand). Muzmatch decided to settle the case and removed the swipe feature.
Why Match Group Lost 12% in 2021
THE MOTLEY FOOL – Match Group put up strong growth, but expectations were even higher. The stock was volatile for most of the year but then dipped toward the end of 2021, tracking with a sell-off in other growth stocks. The stock jumped 10% in October to reach its high point for the year on news that Google would slash in-app subscription fees to 15%, but the company missed estimates in its third-quarter earnings report in November and offered weak guidance for Q4. Match stock is down 5% through the first three days of 2022, showing that the stock could still face pressure from rising interest rates. However, Match remains a good bet for long-term growth.
Match Group Has Filed a Lawsuit Against Muzmatch
NOKIA MOBILE PHONE NEWS – After accusing Muzmatch, a UK-based Muslim matchmaking app, of copying their product and services, Match Group has launched a legal battle with it. The Match Group has accused Muzmatch of trademark infringement, claiming that its mission is to "spark meaningful connections for every single person worldwide." According to The Times, Match Group first wrote to Muzmatch in 2016 alleging trademark infringement before attempting to acquire it a year later. It made four offers to buy Muzmatch, including one for $35M, but Muzmatch turned them down. In 2019, Match purchased Harmonica, an Egyptian-based Muslim dating app, and renamed it Hawaya. According to Match Group, Muzmatch used the word 'match' in its metadata, and also used keyword tags such as 'match-muslim' and 'uk-muslim-match,' which the company claims are an attempt to 'ride on the coattails' of its trademarks. Muzmatch has denied the allegations, claiming that Match does not have a monopoly on the term "match" in the dating industry. On January 17, a hearing is scheduled at the UK Intellectual Property and Enterprise Court in London.
by Maria Daisy
See full article at Nokia Mobile Phone News
Buy Match to Exploit Apple’s Outdated Payment System
FORBES – A Dutch antitrust authority ruled that Apple must allow dating apps to use alternative payments or face a weekly fine of $5.6M. Investors should consider buying Match Group. A filing at the Securities and Exchange Commission in June revealed Match had 15.1M paying subscribers, up 15% from a year ago. Annualized revenue was $2.7B and profits reached $978M. Match shares closed on Thursday at $133.44. The stock trades at 72.6x forward earnings, and 13.1x sales. Market capitalization has fallen to $37.2B, following a share price decline of 11% in 2021. Shares can easily trade to $190 during the next 12 months on the Apple news alone, a gain of 42% from current levels.
Apple Must Let Dating Apps Offer Alternate In-app Payment Options
THE VERGE – Apple must allow dating app developers to offer non-Apple payment systems for in-app purchases or face a hefty fine, according to a detailed ruling released today from the Netherlands Authority for Consumers and Markets (ACM). The regulator has been investigating the company's App Store practices since 2019, but Reuters reports that it decided to focus on dating apps after receiving a complaint from Match Group. This decision doesn't apply to other app categories, like games or productivity apps, in the country. If the company fails to do so by January 15th, it faces a 5M Euro-per-week fine, up to a maximum of 50M Euros.
Why the CEO of Match Group Took a Stand on the Texas Abortion Law
NEW YORK TIMES – When Texas lawmakers this summer passed a restrictive abortion law, Shar Dubey, the CEO of Match Group, confronted it head-on. "As a Texas resident, I am shocked that I now live in a state where women’s reproductive laws are more regressive than most of the world, including India," she said in an email to employees, while announcing she was creating a fund to support Match employees affected by the new law. For Ms. Dubey, who has maintained a relatively low profile, it was an unusual foray into political activism, and a reminder of the power she wields as one of the few top female executives in the technology industry.
Q: You were one of the only women in your class at I.I.T. Was it a welcoming environment?
A: I happened to become the only girl in my class of ~100 boys. I almost quit in the first week. A girl who was a couple of years senior to me told me, "If you're going to quit, who else is going to lose out? Grit it up and go figure out how you're going to survive this." And I did.
Q: How did you make your way to Ohio State for grad school?
A: After I graduated, I went back to my hometown and got a job with the steel company. I saved up $800 and took my first plane ride of my life to Columbus, Ohio.
Q: What was the first job that you got after graduating from Ohio State?
A: It was at an aerospace engineer manufacturing company in rural Pennsylvania.
Q: What was the hardest thing you're dealing with as CEO right now?
A: Maintaining the trust equity that comes with building relationships.
Q: Match has been more welcoming of some online regulations than many of the big tech companies. Can you explain where your positions diverge?
A: For most of Big Tech, privacy comes first. Apple famously doesn't unlock a phone, even for a terrorist. We've always known that safety was existential for our category, because we're introducing strangers on our platform who eventually go meet in real life.
Q: Do you feel like the big tech companies are taking enough responsibility for the real-world consequences of what happens on their platforms?
A: It's super challenging, and in the absence of real laws and enforcement, we're all making stuff up. One of the things which is easier for us, as a one-on-one introduction platform, is that we have a much harder stance on bad behavior. A cuss word is enough for us to kick you out of the platform.
Q: How has dating changed during the pandemic?
A: People became more realistic and honest about themselves and who they were looking for.
Sharmistha Dubey Named Tech Leader of the Year at Vogue Women of The Year 2021
VOGUE – Sharmistha Dubey, CEO of Match Group, won Tech Leader of the Year at Vogue Women of The Year 2021. Dubey grew up in Jamshedpur in the 1970s and '80s, when the internet and technology as we know them both today didn't exist. Her father was a professor of mechanical engineering and he encouraged her to get an engineering degree at IIT, where she was the lone woman with hundred men. Dubey later saved up to apply for a master's degree at Ohio State University, and after stints at various technology companies, she landed at Match in 2006, as director of product for an online dating start-up called Chemistry. In 2017, Dubey raised many eyebrows at Tinder when she suggested it introduce a feature called Likes You, to show users which profiles had already liked them before they swiped left or right on them. Dubey knew that this was a feature people would pay for and cleverly offered it only on Tinder Gold. Tinder blew up in popularity nearly overnight and that feature directly fuelled its rise into the billion-dollar company that it is today. Dubey was named CEO of Match Group in early 2020.
How Match Group Made Online Dating More Engaging During the Pandemic
SILICONANGLE – During the COVID-19 pandemic, the scope of human interaction shrank to the size of a computer screen. Match Group relied on long-time partner AppDynamics, a Cisco Systems, to adapt its platforms to make online dating more engaging with features like video calls.
Match Settles for $441M in Valuation Case
SEEKING ALPHA – Tinder's co-founder and eight current and former execs sued Match and IAC for $2B in damages in 2018 alleging the valuation of the company was manipulated during a 2017 bank analysis that set the value for stock options. Match Group has agreed to pay plaintiffs $441M cash and will dismiss all claims presently on trial and in arbitration related to the 2017 Tinder valuation. Match rose 1.4% in premarket trading.