GDI – Feb 19 – Mark Brooks is one of the online dating industry's leading experts with almost two decades of experience under his belt. He's worked with companies like POF and Social Discovery Ventures in the past, and created his own consultancy business in 2005. Mark joined GDI's Dom Whitlock to talk about some of the biggest ongoing stories, including Match Group's separation from IAC, Facebook Dating and romance fraud. Listen now on Apple Podcasts, Spotify and SoundCloud.
Category: Match Group
Facebook Says Its Dating Service Is Hot, But It’s Probably Not
FORTUNE – Feb 15 – About two and half years after it first debuted, Facebook's dating service has shown limited signs of progress. Instead, indicators suggest the service may be having difficulty challenging major dating rivals and rolling out in certain countries. Facebook Dating, which the company first introduced in Colombia in 2018, debuted in the U.S. in September and is currently available in 20 countries. Facebook Dating recently hit an unexpected roadblock when it tried to expand to Europe. Former CEO of Match Group Mandy Ginsberg, who announced plans to step down last month, says the company hasn't seen Facebook Dating impact any of its brands, which in 2019 collectively attracted ~ 9.8M subscribers. Gary Swidler, Match Group's CFO who recently also took over the role as chief operating officer said: "You can't underestimate them. But the reality is they're in 20 countries, and when you look at our numbers, there's no impact."
by Danielle Abril
See full article at Fortune
See the top news on Facebook Dating
See the top news on Match Group
IAC CEO: Leadership, Market, Scale Determine if Company Is Worth Investing in
FOX BUSINESS – Feb 15 – IAC CEO Joey Levin provides insight into why people should invest in online dating apps and explains how his company has climbed the economic ranks. Video.
The Top Dating Industry News for Feb 11th
OPW – Feb 11 – Match Group's financial results, $2.2B Spent on Dating Apps, Tinder lost Chief Product Officer, New Pew Research Report, Matrimony Acquired Astro-Vision.
For the top weekly dating industry news in ~2 minutes subscribe to OPW's Two Minute Tuesdays (TMT) podcast on Breaker , Google Podcasts
, Spotify
, Anchor
, Overcast
, Radio Public
or Apple Podcasts
.
Match Group Reportedly Approaches The Meet Group About a Takeover
THE STREET – Feb 7 – Shares of Match Group jumped yesterday following a report that it had contacted rival The Meet Group about a takeover. It's not certain a deal will be completed, the sources said.
by Dan Weil
See full article at The Street
See the top news on Match Group
See the top news on The Meet Group
Match Group Q4 Results – Annual Revenue $2.1B
MATCH GROUP – Feb 4 – Match Group total Q4 revenue grew 20% YOY to $547M. The number of subscribers increased 19% to 9.8M, up from 8.2M in Q4 2018. Tinder subscribers were 5.9M in Q4 2019, up 36% YOY. Tinder direct revenue grew 39% YOY. Operating income was $180M, up 19% YOY. Full year 2019 revenue reached $2.1B, up 19% YOU. Tinder 2019 revenue was up 43% YOY – $1.2B. Operating income was up 17% YOY – $649M.
The Top Dating Industry News for Feb 4th
OPW – Feb 4 – Match Group's new CEO, Andrey Andreev moves on, US Inquiry Over Underage Use, Tinder & GDPR, Grindr hit with a class-action lawsuit.
For the top weekly dating industry news in ~2 minutes subscribe to OPW's Two Minute Tuesdays (TMT) podcast on Breaker , Google Podcasts
, Spotify
, Anchor
, Stitcher
, Overcast
, Radio Public
or Apple Podcasts
.
OKCupid’s International Expansion
YAHOO FINANCE – Feb 4 – OKCupid has recently been pushing into international markets by offering a more tailored type of online matchmaking, based on each country’s cultural norms and predilections. In India, a testing ground for OKCupid, downloads increased by 1.4M in the three months ended September 2019, outpacing Bumble and local Indian dating app Shaadi. Recently, OKCupid set its sights on Israel and Turkey, and will soon be launching in Indonesia, Malaysia, Australia and the UK. Match Group, which declined to break out OKCupid results individually, saw direct international revenue rise 32% in the most recent quarter, or more than double its growth rate in North America.
Dating Apps Face US Inquiry Over Underage Use and Sex Offenders
ASSOCIATED PRESS – Jan 31 – Bumble, Grindr, The Meet Group and the Match Group are the current targets of the investigation by the U.S. House Oversight and Reform subcommittee on economic and consumer policy. The subcommittee is seeking information on users' ages, procedures for verifying ages, and any complaints about assaults, rape or the use of the services by minors. It is also asking for the services' privacy policies and details on what users see when they review and agree to the policies.
by Barbara Ortutay
See full article at Associated Press
See all posts on Bumble See all posts on The Meet Group
See all posts on Grindr See all posts on Match Group
Match Group CEO Mandy Ginsberg Steps Down
WALL STREET JOURNAL – Jan 28 – Match Group CEO Mandy Ginsberg (50) is stepping down. President Shar Dubey will be CEO starting March 1. Mandy served at Match Group for 14 years and was CEO since 2017. Match's stock quadrupled during her tenure.
"When I started in 2006, we were just launching the second brand at Match and only 3% of relationships were from dating apps (that number is a whopping 50% today in North America and Western Europe and growing every day across the globe!)."
In October, a tornado left her Dallas home unlivable, and she also has experienced what she called "health hiccups." She opted for a preventive double mastectomy due to high risk of breast cancer. The implants she received are linked to cancer, and so last Friday she underwent another surgery due to a recall of the implants. "I need to take care of myself and so will take some time off this year to do just that."