THE STREET – June 5 – Glenn Schiffman has been IAC's CFO since 2016. Echoing recent comments made by Match execs, who recently disclosed a goal of getting 25% of the company's revenue from the Asia-Pacific region by 2023, Schiffman said growing Match's Asian footprint is a priority. Schiffman also said Match hasn't seen any change in its competitive environment, as it battles upstarts such as Bumble and deals with Facebook. And he argued Match's current penetration rates leave it with a lot of room to grow.
Category: Match Group
Match Group Could Win Big if the U.S. Regulates Apple and Google
MARKETWATCH – June 5 – Shares of mega-cap U.S. tech companies have come under pressure in recent days amid concerns about increased regulation of technology giants, but companies that have had to play by Big Tech's rules stand to benefit from increased government scrutiny. Match Group would be an "outsized" winner of a scenario in which the U.S. government took a closer look at Apple and Google app-store practices. It is estimated that about half of Match Group's revenue is subject to app-store fees.
US Singles Are Crossing Party Lines Again After 2016 Elections
ABC NEWS – May 23 – Many Americans have dated people with a different political affiliation, but that changed after the 2016 election, according to Match Group. In fact, in 2016, there was a period when Americans seemed less interested in dating in general. "For a couple weeks after the election, our traffic went down significantly," said Match Group CEO Mandy Ginsberg. "We saw our female traffic going down. It was a little bit worrisome because you need women on the apps," Ginsberg said. But over time things have gone back to normal. Ginsberg said that in general, people tend to date over political, socioeconomic, racial and educational divides. However, different apps within Match Group tend to attract people with certain political leanings. Tinder doesn't ask for any political affiliation information. PlentyofFish is considered more "red state" app, according to Ginsberg, OkCupid is a "blue state app."
Females ‘Ship’ MatchGroup’s New Dating App
WALL STREET JOURNAL – May 21 – Match Group has teamed up with millennial digital brand Betches to create Ship, which was launched in January. Ship allows friends to vet potential mates for one another. On its first-quarter conference call in early May, Match said Ship is seeing strong engagement in big cities. The company said ~70% of registrations thus far are female and ~60% of matches are made by friends.
Match Group Paid Millions in Stock Awards That Could Help Tinder co-Founder’s $2 Billion Lawsuit
THE VERGE – May 8 – Match Group had to pay Tinder employees $9.4M in stock compensation this quarter because of the app's rapid growth. That might be consequential in the $2B lawsuit the company faces from Tinder co-founder Sean Rad. Rad claims Match purposely undervalued Tinder in an effort to avoid paying out billions of dollars in stock to the team's original employees. An independent valuation earlier this year valued Tinder at $10B, which would trigger performance-based payouts. This new valuation, which comes only two years after Match valued Tinder at $3B, could lend Rad's case some merit.
Match Group Stock Bounced Back, Facebook Hasn’t Killed Tinder
BARRON'S – May 8 – It has been a year since Facebook announced it was getting into online dating and Match Group stock fell to $35. But it closed at $60 yesterday, and it was recently up 6% in after-hours trading after the company announced Q1 results. Tinder performed well, with subscribers and ARPU described as the main reasons for Match's revenue growth. Facebook, meanwhile, continues to move ahead with dating services. It is expected in the US later this year.
by David Marino-Nachison
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The Match Group Released Q1 Results
The Match Group Share Price Is Up 451%
SIMPLY WALL ST – May 5 – Match Group shares are 451% higher than three years ago, up 17% over the last quarter. Prices do not always reflect underlying business performance. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. Match Group was able to grow its EPS at 31% per year over three years, sending the share price higher. This EPS growth is lower than the 77% average annual increase in the share price. This indicates that the market is feeling more optimistic on the stock, after the last few years of progress. It is quite common to see investors become enamoured with a business, after a few years of solid progress.
Match Group to Increase Headcount in Asia
FINANCIAL TIMES – Apr 15 – Match Group is planning to expand headcount in Asia by 40% this year and overhaul its executive team, as part of a push into the region's online dating market. The group is planing to invest tens of millions of dollars a year on a hiring spree as well as additional marketing in the region. Several directors for individual brands in Asia will now become general managers across all the Match apps. In the past two years, the company has opened offices in South Korea, Japan and Indonesia, and continued to expand its presence in India. The plan is to open an office in Singapore in the coming months. But it does not operate in China, where Tinder is banned. The company is hunting for opportunities for either "incubating or buying" a Chinese dating app.
Sex Attacks Involving Dating Apps on the Rise
