HOSPODÁŘSKÉ NOVINY – Dec 9 – Tinder former CTO Ryan Ogle is now working on a business networking app that would compete with LinkedIn. The app is expected to launch at the beginning of next year. "LinkedIn works more or less like an inventory that is being used by HR professionals. Most people have a profile on LinkedIn but they hardly use it. There are not so many interactions going on and this is what we would like to change", says Mr. Ogle. According to Mr. Ogle, the new business social app would work like Tinder. The app will match people based on their location, interests and work experiences.
Category: Match Group
Amanda Ginsberg Is Officially CEO Of Match Group
MARKET EXCLUSIVE – Dec 7 – On August 2, 2017, Match Group reported that Amanda W. Ginsberg, then CEO of Match Group Americas, was appointed CEO of the Company, effective January 1, 2018, succeeding Gregory R. Blatt, who would remain in his role as Chairman and Chief Executive Officer of the Company through the end of the year. But Ms. Ginsberg assumed the role of CEO of Match Group on Dec 5.
Match Group Announces Pricing Of Senior Notes Offering
PR NEWSWIRE – Nov 17 – Match Group has agreed to sell $450M aggregate principal amount of 5.000% senior notes due 2027 in a private offering. The Offering is expected to close on Dec 4, 2017, with gross proceeds from the Offering of ~$445.6M. Match Group intends to use the proceeds to redeem its existing senior notes due 2022, and to pay accrued interest and expenses associated with the redemption.
Match Group’s New Executive Management Appointments
PRNEWSWIRE – Nov 15 – Match Group has made a series of internal leadership appointments to coincide with Mandy Ginsberg's planned assumption of the Company's CEO role by January 1, 2018. These include:
- Elie Seidman, currently CEO of OkCupid, will become Tinder's new CEO, reporting into Ms. Ginsberg.
- Amarnath Thombre, currently Chief Strategy Officer at Match Group, will become CEO of Match Group Americas, where he will oversee Match, Match Affinity Brands, PlentyOfFish, OkCupid and Match's Latin America businesses, reporting into Ms. Ginsberg.
- Hesam Hosseini, currently CEO of PlentyOfFish, will become CEO of Match and Match Affinity Brands, reporting into Mr. Thombre.
Match Group is actively recruiting to fill the CEO positions at both OkCupid and PlentyOfFish.
Match Group Rumored To Offer $1B For Bumble
FORBES – Nov 14 – Bumble began monetizing via in-app purchases only in Aug 2016 and will cross $100M in sales this year, a figure that – aided by the introduction of tailored, hyperlocal advertising – is projected to double in 2018. Herd turned down a $450M buyout offer from the Match Group earlier this year, according to sources with knowledge of the conversations. And these sources maintain that Match approached the company again this fall to discuss a valuation well over $1B. Match declined to comment. ~10% of Bumble's users pay $9.99 for a monthly subscription. At Tinder, just ~5% of users pay for a similar service. Bumble took an initial ~10M investment from Badoo's founder Andrey Andreev for launch marketing in exchange for 79% of the company. Bumble has 70 employees, ~85% of whom are women. Bumble has recently launched BFF, an offshoot that focuses on platonic connections between women, and Bizz, which offers a challenge to LinkedIn. Bumble BFF has been tried by ~3M users, but just 500K are active in a typical month. Bumble Bizz is too new to evaluate.
by Clare O'Connor
See full article at Forbes
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Match Group Q3 Results: Revenue Up 19%
MATCH GROUP – Nov 7 – Total Revenue was $343M, a YOY 19% increase. Direct Revenue grew to $330M, an increase of 21%, driven by 18% growth in Average PMC to 6.6M and a 1% increase in ARPPU. Average PMC at Tinder exceeded 2.5M, adding a record 476,000 PMC during the Q3, driven primarily by product changes and technology improvements. Operating income was $91M, flat to Q3 2016, and Adjusted EBITDA increased 12% to $120M, both burdened by $11 million in expenses related to the Tinder option conversion and exercises.
For Match Group Investors, A Look Beyond Tinder
BARRONS – Oct 12 – Match Group shares rocketed higher on Wednesday, despite an analyst's view that the stock is now priced appropriately. Goldman Sachs analyst Christopher Merwin sees potential in new video features that are set to roll out soon. That said, he thinks that the company's investments could weigh on its profits going forward. Those video features may boost engagement on Match and other legacy dating sites, but they also could boost the company's server costs. Match shares were up 3.6% Wednesday. The stock has jumped ~50% since the start of the year.
CEO Interview With CEO Of Match Group, Mandy Ginsberg
KERA.ORG – Oct 6 – CEO host Lee Cullum goes inside the business of online dating with Mandy Ginsberg, CEO of Match Group. Ginsberg says innovating through technology is crucial in an increasingly competitive market. Watch the full video interview here.
Shares Of Match Are Up 31% Since The Tinder Gold Launch
BARRON'S NEXT – Oct 5 – About a month ago, Tinder finally gave users a chance to pre-sort their potential matches. With Tinder Gold, users only see people who've already liked them. That little paid feature has lit a fire under parent company Match Group's stock. Shares of Match have soared 31% since the Gold launch, and Match's shares are up 9% this week alone, as Tinder continues to place highly in the App Store's rankings of top-grossing apps.
by Emily Bary
See full article at Barron's Next
Match Group – Market Leader Of World’s Most Enduring Industry
SEEKING ALPHA – Oct 2 – MTCH stock is a lot like love: it arouses feelings of excitement in some, while evoking fear in others. The industry has very low barriers to entry and established players must always consider the threat of incoming competition. However, once established, the top brands usually retain their position. Match's market share is estimated to be 25.7%, with eHarmony coming in at 12%. Match Group is to online dating almost what Facebook is to social media. Some investors look at Match Group's steadily declining average revenue per paying user (ARPPU) as an indication that customers are less willing to pay. However, management noted in its Q1 '17 conference call that each of its top six brands had either flat or higher ARPPU YOY, an indication of stable pricing. The declines are related to product mix shifts toward lower-cost Tinder services and toward international customers which also have lower ARPPU. Match's business, pairing up people looking for a romantic connection..is as timeless as any business around. Fast forward 5, 10, or 15 years and online dating stigma may be a thing of the past, particularly given the up-and-coming generation growing up on Tinder.