YAHOO FINANCE – Match Group is getting added to the broader stock market index, and its shares are soaring 9% in response during extended-hours trading. The changes in the S&P 500 are part of the index's quarterly shufflings based on the latest market activity. In order for Match to keep their spot, it must maintain a minimum market cap of $13.1B. Match shouldn't have any trouble as it currently boasts a market cap of $41B.
Category: Match Group
Match CEO and Bumble Create Relief Funds for Employees Affected by Texas Abortion Law
Match Group Prepares for ‘Cuffing Season’
CNBC – Sep 2 – Match Group Americas CEO Amarnath Thombre joins Closing Bell to discuss Match Group’s stock, which is down 13% in the last two months. He’s hopeful that the incoming fall and winter will drive singles to seek companionship and start using Match’s apps.
Dating Apps Are Turning to Video and Audio to Link People up
CNBC – Aug 28 – The pandemic has caused a level of disruption that's allowed companies to consider what the future of dating apps without mindless swiping might look like. Bumble's "Night In" trivia feature lets users set up a virtual trivia date if they match with someone. It also allows users to send voice memos. Tinder has "Swipe Night," a live, interactive dating feature where singles follow a storyline together. The addition of videos and audio will let people interact in a way that hasn't been done yet with online dating, with the hopes they'll spend more time on the apps. 40% of Tinder users plan to continue using video even when the pandemic is over. Earlier this summer, Match Group closed its $1.7B acquisition of Hyperconnect, a social networking company. That will allow the company to focus on its research & development, adding more live chat features and video experiences to its apps. Match COO Gary Swidler said Match Group expects at least two of its brands to use Hyperconnect tech before the end of the year, while a number of other brands will implement its tech by the end of 2022.
by Jessica Bursztynsky
See full article at CNBC
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Harassment Is the Status Quo on Dating Apps. This Woman Is Trying to Change That
LOS ANGELES TIMES – Aug 20 – Last fall, Match Group hired Tracey Breeden to lead safety and social advocacy. Her job is to coordinate safety efforts across the company's vast app empire and find organizations to cut down on in-app harassment and off-the-app violence. That led to her spearheading the background check partnership; bringing in a domestic violence prevention group to review the way harassment is supported and advising on Tinder features like "Are You Sure?" (a warning for out-of-pocket messages); the ability to block contacts; and plans to introduce optional ID verification next year. According to an Oct 2019 Pew Research Center survey, 57% of women on dating apps ages 18 to 34 said someone had sent them a sexually explicit image or message they didn't ask for, 44% said they've been called an offensive name and 19% said someone had threatened to physically harm them. Match Group's data shows that "Are You Sure" has helped reduce inappropriate messages by 10%. Breeden's biggest push at Match Group has been the partnership between Tinder and Garbo, a nonprofit background check company. Under the deal, Match Group made a "seven-figure" investment in Garbo to get it ready. Beta testing starts this fall; users will have the option to pay less than the cost of "a cup of coffee" to run checks on potential dates, she said.
Bumble and Match Have Love Left to Give
How Background Check Startup Garbo Protects Online Dating Users
FAST COMPANY – Aug 10 – Kathryn Kosmides's experience leaving an abusive relationship inspired her to create an easy way for people to find out more about who they're dating. She created the nonprofit background check platform Garbo, which allows individuals to access public records of violent crimes for a nominal fee. With just a first name and phone number, Garbo users can look up records for someone they've matched with on an online dating app. Following a seven-figure investment by Match Group in March, Garbo's technology will be piloted on Tinder later this year. Garbo doesn't disclose sensitive personal details like home addresses when users search for a record. The platform already filters out non-violent offenses like marijuana possession and minor traffic violations.
Match Beta Test Targets Dating App Complaints
TECH CRUNCH – Aug 10 – Today Match introduces features addressing user complaints like how much time it takes to find a relevant match and ghosting. An anti-ghosting feature will push users to either continue a conversation or unmatch the recipient instead of leaving them hanging.
"Matched by Us," is a new recommendation system that presents one, free match a week. Users see each other and don't wait for a "like" back to engage in a conversation. Match has been internally testing adding human curation to suggestions, an actual match-making service. "Right now, human curation is one area that we're really excited about and want to crack," CPO Dushyant Saraph said. The new features are rolling out to Match's U.S. userbase in beta, as the company kicks off a new brand campaign targeting adult daters.
Match Group have 15m paying customers across its brands, up from 13m YOY. Quarterly revenue was $708m, with net income of $141m. Match Group plans to add audio and video chat, including live video, to its dating brand portfolio. Match's dating app is among those that will benefit from Hyperconnect integrations as Match explores "building out live experiences."
by Sarah Perez
See full article at Tech Crunch
Mark Brooks: Putting the people back into personals. The future of dating apps is 'live'. Match experimented with matchmakers under CEO Jim Safka, bought a 20% stake in Chinese hybrid matchmaking service Zhenai in 2011, and flirted with Three Day Rule in 2014. eHarmony also experimented with a brand extension into live high-end matchmaking in 2013.
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Tinder Is Testing Virtual Currency
GRATIS DATING TIPS – Aut 5 – In the latest letter to shareholders, Match Group says it is testing in-app virtual currency on Tinder. The company says the tests are "performing well." The virtual currency will be tested globally in the H2 of 2021.
by Michael Slender
See full article at Gratis Dating Tips
U.S. Firms Drum up Support for S. Korean Bill Designed to Curb App Store Operators
YONHAP – Aug 3 – A U.S.-based group of companies that has voiced opposition to commissions major app stores collect from developers expressed support Tuesday for legislative movement in South Korea to pass a bill that seeks to curb the so-called app store taxes. Last month, the National Assembly's Science, ICT, Broadcasting and Communications Committee decided to approve amendments to the Telecommunications Business Act, which seeks to ban app market operators from forcing certain payment systems on developers by unfairly using their position. The bill, which would be the first of its kind globally if voted into law, currently awaits further review by the Legislation and Judiciary Committee before being handed off for a wider vote by the National Assembly. Mark Buse, Match Group's senior VP and a founding member of the Coalition for App Fairness, met ruling Democratic Party lawmakers at the National Assembly in support of the bill. The U.S.-based group consists of major tech companies, including hit video game "Fortnite" maker Epic Games, music streaming giant Spotify Technology SA and Match Group.