Category: Match Group

Match Group Insider Sells $2.3M Worth Of Stock

Posted on May 31, 2017

Match group logo jan 2017THE CERBAT GEM – May 29 – Match Group insider Amarnath Thombre sold 116,126 shares of the company's stock this week. The shares were sold at an average price of $19.63, for a total value of $2.3M. He now owns 50k shares of the company’s stock, valued at $981,500.

by Doug Wharley
See full article at The Cerbat Gem

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Pimps Are Recruiting Women Through Dating Sites

Posted on May 5, 2017

WJLA – May 4 – Crackdowns on sites like Craigslist and Backpage are pushing pimps into less targeted spheres, like apps and dating sites. A recent study in the peer-reviewed journal “Victims and Offenders,” reports “some pimps utilize dating websites as opportunities to recruit potential customers and/or sex workers.

by Lisa Fletcher
See full article at ABC6

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Tinder CEO Says Usage Fell After Trump’s Election

Posted on May 5, 2017

Tinder search on mobilePEOPLE.COM – May 3 – Apparently the results of the presidential election did not put most U.S. Tinder users in the mood for love. Match Group Chairman and CEO Greg Blatt, said during an earnings call Wednesday that Tinder saw a drop in activity beginning in November and lasting through February, an apparent anomaly during what is typically a busy period for the dating site. "The post election was weird," Blatt said. Although a majority of the app's users preferred Hillary Clinton, a sizable minority were fans of Trump. According to the results of a "swipe the vote" poll released shortly before the election, 53% of Tinder users planned to vote for Clinton, versus 47% for Trump.

by Kathy Ehrich Dowd
See full article at People.com

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Match Group Q1 Results – International Revenue Up 30%

Posted on May 3, 2017

Matchgroup logo simplePRESS RELEASE – May 2 – "Match Group is off to a solid start in 2017," said Greg Blatt, Chairman and CEO. Revenue was $299M, a 15% YOY increase, led by a 30% increase in direct international revenue. Operating income grew to $59M, a YOY 72% increase. Average PMC grew 16% to 5.9M.

The full article was originally published at Match Group website, but is no longer available.

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Match Group And Investing In Tinder

Posted on May 3, 2017

Match group slideSEEKING ALPHA – May 2 – Match Group is an underappreciated growth story with a market capitalization of $5.1B and operating income of $306M last year. Based on a 20X multiple of 2017 operating earnings (~$400M), Match Group has 50%+ upside. Out of all the brands that Match owns, Tinder stands out the most. Tinder grew its PMC (Paying Member Count) 119% in 2016, to ~1.8M people. This growth isn't showing any signs of stopping, Tinder's PMC grew 18% quarter over quarter from Q3 to Q4 (1.386M to 1.631M). Although Match Group has 278.3M total shares outstanding, its float is much smaller. The company was spun out of IAC in late 2015, and its original parent still owns ~80% of the shares outstanding.The biggest drag on Match's valuation has been the company's debt-load. At the end of 2016, Match still had $1.2B in debt, with only $254M of cash. However, this leverage ratio could change quickly. Match paid down $40M in debt in Q4, and has been simultaneously boosting its cash position. As earnings and cash-flow continue to grow, Match will quickly begin paying off its debt-load, and the company's earnings multiple will expand, making shares very attractive at today's price of $18.50.

by Galileo Russell
See full article at Seeking Alpha

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OKCupid Is Hit With A Suit

Posted on April 24, 2017

Okcupid mobile1COOK COUNTY RECORD – Apr 21 – A man who paid premiums to access A-list dating prospects on OKCupid, only to find out most were dead ends, is suing Match Group in a $5M class action complaint, accusing the company of setting him and other users up to get stiffed. He said Match Group, charges its premiums ($10 – $20/month), to connect with "A-List" OkCupid customers who "liked" a user's profile. After coughing up the cash, the users "routinely learn that most of the users who like them have inactive accounts".

by Scott Holland
See full article at Cook County Record

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$314 Million In Sales Expected For Match Group In Q1

Posted on April 18, 2017

Matchgroup logo simpleTHE CERBAT GEM – Apr 16 – Wall Street analysts expect that Match Group will post sales of $314M for Q1. Match Group posted sales of $285M in the same quarter last year, which suggests a positive YOY growth rate of 10%. Match Group is expected to announce its next earnings results on May 2nd.

by Scott Moore
See full article at The Cerbat Gem

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How A Rescue Dog Helped Match.com’s CEO Avoid A $430K Tax Bill

Posted on April 12, 2017

Greg-blatt-thelmaDALLAS NEWS – Apr 11 – Match Group chairman Gregory Blatt became an official Texan in 2009 thanks to his elderly dog, according to a recent ruling by a New York judge. Blatt moved to Texas from New York in 2009 when he became CEO of Match. New York tax authorities were not convinced of Blatt's new Dallas fandom since he kept his New York condo. They audited him in 2011 and determined that he owed $430,065 in personal income tax plus interest and penalties for 2009 and 2010. However, administrative law judge Donna M. Gardiner found that Blatt fully embraced Dallas as his new home – citing his decision to move his large elderly dog to Texas' hot climate, among other factors. Blatt moved back to New York in 2011 after he was promoted to become the CEO of Match's parent company, IAC.

by Dennis Jansen
See full article at Dallas News

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Match.com-Backed Zhenai Plans A-Share Listing Via Reverse Merger

Posted on February 18, 2017

Zhenai screenshot 2017CHINAMONEY NETWORK – Feb 17 – Zhenai, a Chinese online dating site 20% owned by Match.com, is planning a back-door listing via a reverse merger with Shenzhen-listed DEA General Aviation Holding Co., Ltd. DEA, an aviation parts and electronics maker, said it plans to acquire 100% of Zhenai via new share issuance. The deal is still in the process of being finalized and the two parties have not signed a formal agreement, according to the filing. Zhenai claims ~100M registered users. The company also registered $145M in revenues and $14M in net profits in 2016.

by Li Dongmei
See full article at ChinaMoney Network

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How To Score Funding

Posted on February 16, 2017

Pic-raise-capitalTECHCITYNEWS – Feb 14 – Online dating is a lucrative industry – recent research estimates that dating apps contribute a £1B to the UK economy every year. VCs are eyeing the sector. Matthew Bradley, an investor at early stage London-based VC fund Forward Partners, is just one of many. "It's a very competitive market, though there's a gorilla in the form of Match Group." Well-funded companies in the space include Happn ($22M), Hinge ($12M) and Once ($9.1M), but figuring out what investors really look for in a dating-tech company is not always entirely obvious. "A viable revenue model would be a good start," Bradley said. But monetising dating isn't easy. On top of that, dating apps don't always make good advertising platforms. "For most dating tech companies the only way to pay back investors seems to be to reach a critical scale of users and be acquired by the Match Group. That's a high risk game," Bradley said. "Well tested, well funded propositions run by super-clever people will always make a mark," he added. Dating apps throw off a lot of data with swipes, pictures and interactions. "There's also plenty of social data to get your teeth into. I don't doubt that adding intelligence to data-rich companies will improve products," he explained.

by Yessi Bello Perez
The full article was originally published at TechCityNews, but is no longer available.

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