SEEKING ALPHA – June 13 – Match Group and Bumble say they've settled all litigation between the two. They're not disclosing any more information, but say they're both "pleased with the amicable resolution." Match had accused Bumble of patent infringement in March 2018, and has been accusing Bumble of "exploiting" the COVID-19 crisis to delay the lawsuit for tactical advantage.
Category: Match Group
The Untold Truth of Steve Harvey’s Dating Website
NICKI SWIFT – June 12 – Steve Harvey is a man of many talents: he's a comedian, talk show host, game show host, author, and businessman. And in 2009, he wrote a book titled – Act Like a Lady, Think Like a Man: What Men Really Think About Love, Relationships, Intimacy, and Commitment, introducing himself as an expert in the dating and romance scene. In 2014, Steve Harvey launched Delightful, an online dating site in partnership with Match Group. Delightful's slogan, "Find love and keep it", is how the site branded itself. Delightful contains lots of advice and insight from Steve Harvey.
IAC & Match Set Deadline to Choose Separation Compensation
SEEKING ALPHA – June 11 – IAC and Match Group have set a deadline for Match stockholders to choose their form of compensation for Match's separation from IAC. They'll need to choose by 5 p.m. NYC time on June 18. If the deal is completed, each Match stockholder will be able to receive for each share: one share of common stock in "New Match," and either $3 in cash, or a fraction of a share with a value of $3.
IAC Sets up Sales of Match Group Shares for Separation
SEEKING ALPHA – June 9 – IAC has set agreements with a number of third-party investors for the sale of 17M Class M shares (at $82/share) of Match Group, in connection with the two companies' pending separation. The completion of that deal would change the Class M shares into common stock of the post-split Match.
Match Opts to Keep Race Filter for Dating as Other Sites Drop It
BLOOMBERG – June 9 – Grindr and Scruff are nixing the feature in response to Black Lives Matter protests against police brutality. Match is defending the controversial filters as a way to empower minorities, setting off a debate about whether or not the feature should exist at all. "In many cases we've been asked to create filters for minorities that would otherwise not find each other," said Match spokesperson Justine Sacco. On one of Match's dating apps – the company wouldn't specify which – nearly half of East Asian users set ethnic preferences. "It's important to give people the ability to find others that have similar values, cultural upbringings and experiences that can enhance their dating experience," Sacco said. "And it's critical that technology allows communities the ability to find like minded individuals, creating safe spaces, free from discrimination.
by Amy Thomson, Olivia Carville & Nate Lanxon
See full article at Bloomberg
Jared F. Sine, Chief Legal Officer & Secretary for Match Group, Sells The Company’s Stock
MARKETBEAT – May 20 – Match Group insider Jared F. Sine sold 6,230 shares of the firm's stock last week. The stock was sold at an average price of $78 for a total value of $486,438. Following the completion of the sale, he now directly owns 13,132 shares in MTCH, valued at $1,025,346. A number of equities analysts have recently commented on MTCH shares. Citigroup raised their price objective on Match Group from $90 to $100 and gave the stock a "buy" rating in a report on Friday, May 8th. Nomura Securities also gave the stock a "buy" rating. BidaskClub upgraded Match Group from a "sell" rating to a "hold". SunTrust Banks and Deutsche Bank both gave the stock a "buy" rating.
Muslim Matchmaking Platform Hawaya Expands Across GCC
ZAWYA – May 18 – Following its success in Egypt, Hawaya (previously Harmonica, acquired by Match Group in 2019), a Cairo-based mobile dating app that approaches matchmaking with respect for Muslim traditions and cultures, has announced the expansion across the GCC (Gulf Cooperation Council – Saudi Arabia, Kuwait, the UAE, Qatar, Bahrain, and Oman. Hawaya was founded in 2017 by an Egyptian entrepreneur, Sameh Saleh, who crafted the app to help his sister go through a safe journey towards marriage. The name Hawaya was inspired by the word "Hawa" which means "love" in Arabic.
The Top Dating Industry News for May 12th
OPW – May 12 – Tinder's Video Dating Feature, Match Group Q1 Financial Results, Helen Fisher on Dating in Pandemic, The Meet Group Q1 Financial Results.
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Match Is Offering $500 Million in Bonds That Mature in 2028
MARKETWATCH – May 12 – Match Group is offering $500M in senior notes that mature in 2028 in a private offering. Proceeds will be used to redeem the company's 6.375% senior notes due 2024 and for general corporate purposes.
by Ciara Linnane
See full article at MarketWatch
See the top news on Match Group
This post also appears on InternetDatingInvestments.com
Dating Apps Buck the Downward Ad Spend Trend
by Imogen Watson
See full article at The Drum
See the top news on Match Group See the top news on Hinge
See the top news on Tinder See the top news on Bumble