BUSINESS INSIDER – Dec 4 – Match Group CEO Mandy Ginsberg was interviewed at Business Insider's IGNITION 2018, where she discussed the changing scene of online dating and the tech industry's "bro culture." Ginsberg said that the online dating industry is "fiercely competitive". Ginsberg has taken steps within her own company to ensure she's treating women equally to men in the male-dominated tech industry. Tinder has grown to 300 employees working solely on the app. Match Group as a whole has ~1k employees, a large workforce in which Ginsberg has advocated gender equality and representation. She has recently ordered an audit of Match Group to ensure male and female employees were being paid equally for the same work. The auditors found her employees were paid equally.
Category: Match Group
IAC’s CEO Joey Levin: Winning Is a Long Term Game
BUSINESS INSIDER – Dec 4 – "Whatever we operate, we own forever," said IAC CEO Joey Levin in an interview with Business Insider, meaning IAC evaluates its businesses like it'll own them forever, instead of treating them on fixed timelines. Companies are often put on short-term timelines to measure their success, but Joey Levin says his company has ditched this type of evaluation when it comes to the businesses it owns.
Work Culture at Plenty of Fish
OPW – Nov 3 – Plenty of Fish (POF) is one of the largest global online dating companies; Vancouver-headquartered tech success story and now one of the top revenue-driving brands in the Match Group.
Match Group Partners with Syndio to Ensure Pay Equity
PR NEWSWIRE – Dec 3 – A recent analysis found out that Match Group has 100% pay equity by gender. The company partnered with Syndio for this pay analysis, and committed to annual pay audits. Syndio is a SaaS solution that offers organizations across the globe a way to find pay issues based on race or gender (or any other category), fix those issues, and stay in compliance over time.
Match CEO Mandy Ginsberg to Speak at Ignition 2018 Next Month
BUSINESS INSIDER – Nov 19 – Match Group has been tangled up in a lawsuit – and countersuit – with Bumble since March. In May, Facebook announced plans to launch Facebook dating. Match Group is faced with the challenge of defending their market share. Match CEO Mandy Ginsberg will be discussing that at IGNITION 2018, Business Insider's flagship conference, in December 3-4, 2018 in New York.
Sean Rad on Tinder Innovation, and Suing Match
OPW – Nov 8 – Sean Rad spoke at Web Summit yesterday. Here's the OPW.news 4 minute highlight video. Sean talks about:
- getting demoted
- Tinder innovation by cross-examination
- suing Match Group
Post by Mark Brooks, CEO IDEA
Tinder Doubles Down On Its Casual Nature
TECH CRUNCH – Nov 8 – Tinder has never really shaken its reputation as a "hook up" app, instead of one designed for more serious dating. Now, it seems Tinder is planning to embrace its hook up status. According to Match Group CEO Mandy Ginsberg, Tinder is launching its first-ever brand marketing campaign that will promote the "single lifestyle" with billboards and other digital initiatives. "The market defined the brand, versus the business defining the brand," said Ginsberg, referring to its "hook up app" reputation. The company will also invest more in Hinge going forward. Ginsberg said Hinge will help the company to address the "previously underserved" audience of 20-somethings looking for a serious relationship. The plan is to make Hinge the anti-Tinder, then pull in users as they exit Tinder in search of something real.
by Sarah Perez
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Tinder Now Has 4.1M Paying Users, Expects $800M In Revenue This Year
TECH CRUNCH – Nov 7 – Match Group surpassed analyst's forecasted revenue of $437M, reporting Q3 revenue of $444M, a 29% increase YOY. Match says it expects to bring in a total of $1.72B in annual revenue. Despite positive earnings, the company's 4Q outlook failed to satisfy Wall Street. Match said it expects $440 – $450M in revenue in Q4, falling short of the $454.5M analyst estimate. Shares of Match sank 10% in after-hours trading as a result. Year-to-date, Match's stock is up ~60%. Tinder continues to be Match's growth engine, responsible for half its paid users and half its projected annual revenue. Tinder is expected to bring in $800M in revenue in 2018. Hinge, another app-based dating service acquired by Match in June, is on its way up. Match says it's seen a 5x increase in downloads since it first invested. Match also announced that it would, for the first time, issue a special cash dividend of $2 per share on Match Group common stock and Class B common stock, to be paid out on Dec. 19.
by Kate Clark
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Match Group Q3 Results: Revenue Up 29%
MATCH GROUP – Nov 7 – Total Revenue grew 29% YOY to $444M, driven by 23% subscriber growth and 6% ARPU growth. Average subscribers increased to 8.1M, a 23% YOY increase. Operating income was $140M, up 54% YOY, while Adjusted EBITDA increased 38% to $165M.
Barry Diller On the Internet Revolution: Really Young, Truly Radical, Very Troubled
WEBPRO NEWS – Nov 3 – Barry Diller, Chairman and Senior Executive of IAC and Expedia, recently reflected on the relative youthfulness of the Internet and areas which are still ripe for entrepreneurs. IAC owns Tinder and Match. People forget that the Internet revolution is still really young, only 22 or 23 years. It took 10-15 years just to get up enough bandwidth to actually have rich media being served through it. We are really at the very earliest stage of this.
Part 1
Part 2