BLOOMBERG LAW – Feb 16 – Match Group accused U.K.-based Muzmatch of copying Tinder to create a similar digital matchmaking service for Muslims. Match Group called Muzmatch a "Tinder clone" in a patent-infringement suit filed Feb. 12 in federal court in Waco, Texas. Muzmatch copied Tinder's "world changing, draggable-card-based, mutual opt-in app interface" in a dating app dedicated solely to one cultural group, Match claims in the complaint. Both apps offer users digital stacks of cards containing photos of potential romantic matches in close geographic proximity, which the user can accept or discard by swiping.
Category: Match Group
Tinder Patents Swipe Night
GRATISDATINGTIPS – Feb 16 – Tinder's Swipe Night, an interactive adventure that connects users based on the choices they make, turned out to be a great success. So Match Group filed for the protection of the "Swipe Night" method last August in a patent called "System and method for recommending users based on shared digital experiences". The patent was published by the WIPO (World Intellectual Property Organization) on February 11, 2021.
Tinder, Bumble and Hinge Show Surge in Americans Looking for Love Online
by Yan Wu
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Match Group to Launch “Tinder Made” Merch
GRATISDATINGTIPS.NL – Feb 12 – Two recent trademark registrations by the Match Group show that Tinder has ideas for its own product line. Match Group registered a trademark with the United States Patent and Trademark Office (USPTO) on January 20, 2021 to protect the term "Tinder Made". Tinder plans to sell protective covers and cases for cell phones; stands for handheld digital electronic devices; lights for use with mobile phone cameras; clothing, footwear and headwear; bags; cups and water bottles; and more.
Match Stock Hits High on Hyperconnect Acquisition as Tinder Growth Slows
INVESTOR'S BUSINESS DAILY – Feb 10 – Match's stock popped 7.7% to an all-time closing high of 171 on the stock market today. The Hyperconnect acquisition comes just as Match rival Bumble goes public. Hyperconnect garnered $200M in fiscal 2020 from two mobile apps, Azar and Hakuna. Match expects the South Korean company to grow revenues 40% to 50% in 2021. Japan recently became Match's second biggest market, behind the U.S. But Tinder growth has slowed in the U.K., Brazil and India amid the coronavirus pandemic. Match has pivoted to video chatting amid the Covid-19 outbreak.
by Reihardt Krause
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Match Group to Acquire Hyperconnect for $1.7B
PR NEWSWIRE – Feb 10 – Match Group is acquiring Hyperconnect for $1.725B in cash and stock. The transaction is expected to close in Q2 2021 pending customary regulatory approvals. Hyperconnect is a leading social discovery and video technology company based in Seoul, South Korea that operates Azar and Hakuna Live. Azar is the highest grossing 1-on-1 live video and audio chat app globally, allowing users to connect with others from around the world, instantly translating voice and text. Since launch in 2014, Azar has tallied 540M downloads. Hakuna Live is an interactive, social live streaming app that enables group video and audio broadcasts with various features including virtual gifting, AR powered avatars, profile enhancements, and communities built around shared interests. Since launch in 2019, Hakuna Live has been downloaded ~23M times with strong momentum in South Korea and Japan. Hyperconnect is profitable and generated ~$200M in revenue in 2020, a 50% increase from 2019.
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Mandy Ginsberg: Year After Stepping Down as Match Group CEO
DALLAS MORNING NEWS – Feb 8 – She's on the board of Uber Technologies and just joined the board of online thrift retailer thredUP. Her home in North Dallas was in the path of the October 2019 tornadoes. Then she discovered in January 2020 that her doctor had been trying for two months to reach her for a serious talk. That's when she decided to step down as CEO of Match Group. "I had to reevaluate," she said. The decision was easier because Match was performing well, she said, and she would be succeeded by a woman. Ginsberg said she was attracted to the thredUP board because it's mission-based. "I saw the passion for the business in [CEO] James Reinhart. If you can't help the world, why bother?" Secondhand can have a bigger place in the market, she said. It's an alternative to fast fashion, and it's not a new idea that "one person's trash is gold to someone else." Ginsberg is also on the board of Uber Technologies and said that being exposed to other companies that are disrupting markets and where "the sky's the limit is so much fun." She's not ruling out running a company again someday, and she believes it’s only a matter of time until women have parity in the C-suite.
Match Owns Dating’s Past, Present and Future
Campaign: Match Group’s BLK Sets Out to Reclaim “Once You Go BLK”
PR NEWSWIRE – Feb 4 – BLK, the largest dating app made for Black singles, launched a new advertising campaign, Once You Go BLK, to reclaim and reappropriate the antiquated phrase "Once you go Black, you don't go back." This campaign includes original content and video testimonials with BLK users, tailored to acknowledge how real people date, across the Black cultural spectrum.
Match Group 4Q and Annual Results, Tinder Reports $1.4B Annual Revenue
MATCH GROUP – Feb 2 – Total Q4 revenue grew 19% YOY to $651M. Operating income was $213M, up 17% YOY. Adjusted EBITDA was $245M, up 13% YOY and the average subscribers increased 12% to 10.9M, up from 9.8M in the prior year quarter. Full year 2020 revenue grew 17% YOY to $2.4B. Operating income and Adjusted EBITDA were $746M and $897M, respectively, increasing 16% and 15% YOY, respectively. Tinder Direct Revenue was $1.4B for 2020, an 18% increase YOY.