FORBES – Feb 10 – Tinder has been warned about weaknesses in its Android and iOS apps that allow hackers to tear apart the software and rebuild it so they don't have to pay for premium content. San Francisco startup Bluebox Security created such an app in its labs. "Bluebox's findings have an inconsequential to zero impact on Tinder and its revenue because virtually no one has the capability to do this," said spokesperson Rosette Pambakian. Andrew Blaich, lead security analyst at Bluebox, said a malicious hacker could craft an app that had the paid-for features turned on by default and sell it on third-party stores.
Category: Outlets – Forbes
Tinder’s Success In India
FORBES – Feb 4 – Tinder, which launched globally in 2012, reported a 400% jump in downloads in India last year. By last Sep India was already Tinder’s top market in Asia and among the top 15 global markets. Tinder opened its first international office in Delhi last month, headed by Taru Kapoor, a Harvard MBA graduate who previously worked with The Boston Consulting Group and Sequoia Capital India.
4 Reasons To Swipe Left On Match Group’s IPO
FORBES – Nov 11 – 33.3M shares of Match Group are going on sale for $12 – $14 a piece. IAC wants to use the cash to lower its debt while leaving IPO investors with little economic control of Match and no voting control.
4 reasons to swipe left on this IPO.
- Shareholder unfriendly structure
This IPO gives the public shares with very little voting power. It is a common stock with 1.6% voting power. - Proceeds go to repay parent debt
After acquiring POF, Match will have $1.3B in long-term debt. - Disappointing valuation
Match’s valuation is way below what analysts expected. - Weak underwriters
The names of the lead underwriters on an IPO send a signal to investors about its quality. Topping the list are Goldman Sachs and Morgan Stanley.
Antidate Puts The Women In Charge Of Online Dating
FORBES – Nov 6 – On Antidate dating app, female members get to look at the profiles of men in their neighbourhood who’ve signed up to Antidate. But the men only get a look at women who've said they like the look of them. Mo Saha and Hatty Kingsley-Miller are the apps founders. The pair came up with the idea three or four years ago, they've developed the Antidate app largely without funding. Now, however, courtesy of a funding win that gives the business six months of breathing space, both Saha and Kingsley-Miller are working on Antidate full-time.
Sued Ashley Madison In Trouble If They Rely On Terms And Conditions
FORBES – Oct 23 – Ashley Madison is being sued in Canada, the US, and likely in other countries. These class-action lawsuits, seeking ~$500M in damages, will take years. A majority of the focus will be on the "Terms and Conditions" and “Privacy Policy". Recently, a federal judge in California granted Lyft’s motion to dismiss a class action lawsuit filed against it by its drivers. The reason? A provision in Lyft’s Terms of Service waives class actions and forced arbitration. Ashley Madison, however, might not be as lucky: some self-imposed update procedures are likely to get those Terms and Conditions completely thrown out. Ashley Madison's Terms and Conditions are intended to protect Ashley Madison. In summary they state:
- It's not our problem if your data gets hacked.
- We are not liable for damages, and you can’t sue us for more than $5K.
- You may be interacting with fembots.
- If you sue us, you must do it via arbitration and you may not do it as part of a class action lawsuit.
Ashley Madison gives itself the right to update its Terms and Conditions at anytime, and expects users to check for updates. This won't work in California. Safeway was just ordered to pay out $31M in a class action lawsuit, due in a part to never having provided conspicuous notice of changes to its own online Terms and Conditions.
by Brian Powers
See full article at Forbes
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Tinder CEO Sean Rad: From Boss, Booted, And Back
FORBES – Oct 9 – Following his demotion by IAC, Rad continued to focus on Tinder's success, by supporting the new CEO, saying,"I saw my role as making sure that person succeeds." Tinder is now up to 10 billion matches (last year the number was 3 billion) with Rad at the helm once again. "We're getting smarter at putting the right people in front of you. There is a higher chance you’ll like them and that's driving the number of matches users get and the quality of matches. We see more matches per user, and longer and deeper conversations. Higher quality connection are getting formed." He notes the success of the new Super Like feature, "users have sent over more than 20M Super Likes. Users are 3x more likely to get a match, and conversations are 70% longer when started from a Super Like."
Bumble Dating App Is For Women That Know What They Want
FORBES – Sep 26 – Dating app Bumble launched in December and is backed by Andrey Andreev, the founder of Badoo. Users create profiles by linking to their Facebook profiles. Users are then suggested matches, and much like Tinder, have the option to swipe right or left. When both parties swipe right on each other's images, they are both alerted to the match, though only the woman has the option to initiate a conversation. The app has recently introduced "VIBee" status which rewards frequent and respectful interaction.
Most Dating Sites Have Bad Password Practices
FORBES – Sep 10 – An analysis of the security practices of 24 leading online dating sites has concluded that only seven use secure-enough password practices. Password management company Dashlane assessed each site on 19 different criteria, including the minimum length for a password to be acceptable, and whether there was a requirement for a mix of letters and numbers. Only Zoosk and OkCupid score ~50%. Most mainstream Internet services generally get 75 or above; Apple scores 100%. eHarmony scores 38, while Match.com, Gleeden and Adult Friend Finder all get 30%. At the bottom end of the scale, Badoo and POF with 22.
Instant Chemistry Calculates Romantic Chemistry Through Genetics
FORBES – July 23 - Instant Chemistry helps couples understand the science behind their attraction. The site was founded in 2013 by Ron Gonzalez, who has a PhD in neuroscience. In the early days, Instant Chemistry worked with a dating site Singledout. They ended this partnership 8 months later. Gonzales doesn't regret. He received several emails from couples asking if they could use his test to determine whether they are a good match. Instant Chemistry’s kit tests for three Human Leukocyte Antigen (HLA) immune system genes and four behavioral genetic variants. It also includes a psychological assessment. Although the market for DNA testing for love hasn’t yet been proven, Instant Chemistry’s growing customer base gives Gonzalez high hopes.
by Maggie Zhang
See full article at Forbes
Jiayuan Committed To Buyout
FORBES – July 13 - Jiayuan is still committed to the privatization process that could end with its departure from New York and re-listing of its shares in its home China market. The reason is that investors are far more likely to get excited about a stock when they’re familiar with its name and business model, giving it a better valuation than it would get from less familiar buyers in overseas markets. That's why most companies choose to make their primary listings in their home stock markets.