CHRON – Feb 12 – The Texas Lawbook and the DFW Chapter of the Association of Corporate Counsel announced Thursday night that Jared Sine is the winner of the 2018 Outstanding Corporate Counsel's General Counsel of the Year Award for a Large Legal Department. During his 30 months as general counsel and corporate secretary at Match, Sine has tripled the size of the legal department.
by Mark Curriden
See full article at Chron
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INVESTORPLACE – Feb 10 – The time to buy MTCH stock was down at $30 in late 2018; now, it's time to sell. Last week, shares of Match popped on an otherwise down day for markets after the Q4 numbers that impressed investors and included a healthy subscriber growth outlook. The stock rose 5% in response. But, the truth is that the time to buy MTCH stock was back in late 2018 when the market was freaking out about the potentially slowing growth at Tinder against the backdrop of a decelerating global economy. A lot has changed since then. For starter’s, MTCH stock has almost doubled. The Relative Strength Index on MTCH stock has jumped above 70, which is traditionally considered overbought territory. Historically speaking, whenever the RSI in MTCH stock has jumped to these levels, the stock proceeded to pullback over the subsequent several weeks.
by Luke Lango
See full article at Investorplace
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FORBES – Feb 10 – Sam Yagan is currently the CEO of ShopRunner which has raised ~$100M from the likes of Alibaba Group or August Capital. Previously, he served as CEO of The Match Group and led it through a period of growth culminating in its $400M IPO. Yagan cofounded OkCupid in 2003 and it was acquired by Match for $90M in 2011. Earlier, he founded SparkNotes, which he sold for $30M.
In this episode you will learn:
by Alejandro Cremades
See full article at Forbes
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SEEKING ALPHA – Feb 10 – Match Group intends to commence an offering of $300M aggregate principal amount of senior notes due 2029 in a private offering. The interest rate and other terms of the Notes will be determined at the time of sale. Match Group intends to use the proceeds to repay borrowings under its existing revolving credit facility, to pay expenses associated with the Offering, and for general corporate purposes.
by Pranav Ghumatkar
See full article at Seeking Alpha
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TECH CRUNCH – Feb 7 – Last year, Match Group acquired a 51% stake in Hinge. The company has now confirmed that it fully bought out Hinge in the past quarter, and today owns 100%. Terms of the acquisition were not disclosed. Match believes Hinge can offer an alternative to those who aren't interested in using casual apps, like Tinder. As Match explained in November, it plans to double-down on marketing that focuses on Tinder's more casual nature and use by young singles, while positioning Hinge as the alternative for those looking for serious relationships. The company said it would also increase its investment in Hinge going forward, in order to grow its user base. "Hinge downloads are now 2.5 times more than the next largest app, and 40% of Bumble downloads," said Match Group CEO Mandy Ginsberg.
by Sarah Perez
See full article at Tech Crunch
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MATCH GROUP – Feb 7 – Total Revenue grew 21% YOY to $457M, driven by 17% Average Subscriber growth and 4% ARPU growth. Tinder added 233K new subscribers, bringing its total subscriber count to 4.3M. Combined with Match's other apps, overall subscribers totalled 8.2M. Operating income was $151M, an increase of 18% YOY, and Adjusted EBITDA increased 15% YOY to $176 million.
See full article at Match Group's website
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by Emily Bary
See full article at Marketwatch
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WIPR – Feb 6 – Video streaming website Vimeo and Match Group will face a patent infringement suit after a US district court partially rejected claims brought by British Telecommunications (BT). The US District Court for the District of Delaware ruled on Monday, Feb 4, that two of BT's infringement claims would proceed to trial. The British telecoms company accused Vimeo and Match Group, both subsidiaries of IAC, of infringing six of its patents. The IAC subsidiaries filed separate motions to dismiss BT's claims, citing insufficient evidence of infringement. The district court found that BT had made "plausible" arguments for infringement of the '105 and '200 patents.
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WALL STREET JOURNAL – Feb 4 – Match Group is betting love seekers will still pay up for privacy in their dating lives. Given Facebook's struggles over data leaks recently, that seems like a solid bet. Data suggest Match's users prefer the separation of their dating lives from their social lives. Originally, new users joining Tinder had to do so with Facebook. Now they are given the option of signing up via SMS. Match reported in May that 75% of new users sign up via SMS rather than Facebook after the change, which took effect in 2017. Match Group shares are now up more than 48% for the last six months, fetching a valuation of about 35 times forward earnings.
THE VERGE – Jan 22 – Match Group and the media brand Betches are partnering to launch an iOS dating app that allows users to help their friends pick out potential dates. The app is called Ship, and it lets users swipe for their friends and chat about profiles in a group chat within the app. Match supplies the tech expertise for Ship while Betches provides the branding, marketing, and bigger idea. Betches started as a website and is now a viral social media and digital humor company with ~6M Instagram followers and ~3M monthly unique visitors. Match is likely leveraging that built-in group to see if they can serve as a pool of daters from the onset. For now, there isn't a revenue model for Ship, although that'll probably change, assuming it attracts enough people to be successful.
by Ashley Carman
See full article at The Verge