TECH CRUNCH – The FTC and international consumer protection networks studied 642 websites and apps offering subscriptions, finding that ~76% employed manipulative "dark patterns" to influence user behavior. These patterns include tactics like sneaking auto-renewals (81%), making cancellation difficult (70%), and using social proof (21.5%) to push subscriptions. The report suggests increased FTC scrutiny of these practices amid ongoing legal actions, highlighting concerns over consumer privacy and fair market practices.
Category: Outlets – Tech Crunch
Bumble Users Can Now Report Profiles That Use AI-generated Photos
Pitch Deck Teardown: RAW Dating App’s $3M Angel Deck
TECH CRUNCH – The RAW Dating App aims to shake up the dating scheme by shedding the fake, TikTok-ified, heavily filtered photos and replacing them with a more genuine, unvarnished experience. The app targets young professionals and students, particularly women aged 21 to 27, who seek genuine interactions. The company claims to have raised $3M, though this remains unverified. According to Tech Crunch, the app's pitch deck has notable issues, such as presenting solutions before problems and lacking clear market data, go-to-market strategy, and business model. The competitive analysis is weak, and some slides are poorly defined or titled. Despite these flaws, the solution slide is clear and well-articulated, highlighting the app's approach to solving dating app problems, but the overall presentation needs significant improvement.
Bumble Buys Community Building App Geneva to Expand Further Into Friendships
TECH CRUNCH – Bumble has acquired Geneva, an online platform built around forming real-world groups and clubs. Terms of the deal were not disclosed, but the announcement comes shortly after Bumble revealed that it would be pursuing acquisitions to drive growth. While Bumble is best known for its dating app, the company recently indicated that friendships could be a bigger focus for the company moving forward. Founded out of New York in 2019, Geneva is all about meeting like-minded people in a given area, whether that's to form running clubs or meetups to talk about the latest books. The company had raised ~$36M.
by Paul Sawers
See full article at Tech Crunch
This post also appears on InternetDatingInvestments.com
Bumble Says It’s Looking to M&A to Drive Growth
by Sarah Perez
See full article at Tech Crunch
Mark Brooks: This is definitely a good time to acquire companies in the dating space. It's a buyer's market right now. Match Group seems less acquisitive since the cost of capital has gone up. #3 player ParshipMeet Group used to be very acquisitive, but have been quiet recently. Social Discovery Group hasn't made a move on anything in a while. So it's a good time for Bumble to level up by bringing in innovative disruptive technologies. Consider the buying-interest signal sent.
Match-Owned Archer Hits Over Half a Million Installs
TECH CRUNCH – Despite a general slump in the dating app industry, Match Group's Archer app has achieved ~685K downloads since its launch last year. Aimed at gay, bi, and queer men, Archer offers a fresh take on the gay dating scene by incorporating safety features like AI-monitored chats and selfie verification to combat negative behaviors like body shaming and racism. The app distinguishes between casual and serious daters with different user interfaces. With 74% of its users looking for friendships, Archer is focusing on community-building features and plans to introduce a Stories feature and more AI integrations in the future. Match Group is investing significantly in AI, planning to spend $20-30M in 2024 and collaborating with OpenAI.
Bumble Introduces ‘Opening Move’ Feature to Simplify Starting Conversations
Hinge Adds a Way to Mute Messages Containing Words Users Specify
TECH CRUNCH – Hinge is introducing a new "Hidden Words" feature that allows users to filter out likes with comments containing specified words, phrases, or emojis. This feature, similar to social media mute filters, helps users manage online harassment by redirecting likes with specified terms into a separate "Hidden Likes" section. Users can review or delete these comments at their discretion. Currently, Hinge permits adding up to 1K hidden words to a profile.
Tinder Introduces ‘Share My Date’ Safety Feature
TECH CRUNCH – Tinder has introduced a new feature called "Share My Date," allowing users to share their date plans, including the match's name, meeting location, date, and time, directly from the app. This feature lets users send a link with these details to friends and loved ones, which is editable and can be sent up to 30 days in advance. The link is accessible to both Tinder users and non-users, though non-users see a limited profile version. Inspired by the common practice among singles to inform friends about their dates, this feature is part of Tinder's effort to enhance user safety and enjoyment. The rollout will be in U.S., U.K., Australia, Canada, France, Spain, Italy, Netherlands, India, Germany, Ireland, Japan, Brazil, Singapore, Switzerland, Mexico, Korea, Vietnam, and Thailand.
Pitch Deck Teardown: Queerie’s $300K Pre-seed Deck
TECH CRUNCH – Queerie, a new dating app aimed at LGBTQIA+ folks, wants to raise $300K. The startup shared its pitch deck with TechCrunch. The deck shows promise with its fresh, mission-driven approach. However, it has key areas that need improvement, according to TechCrunch.
- Team Diversity and Expertise: The team lacks diversity and appears overqualified in areas not directly beneficial to a startup's early stages, particularly missing marketing and startup experience.
- Unique Selling Proposition: The app doesn't clearly differentiate itself from other dating apps, missing an opportunity to highlight what makes it unique.
- User Engagement and Traction: Mention of 95 beta testers lacks evidence of meaningful engagement. Confusing timelines and growth projections also detract from the app's perceived viability.
- Financials and Growth Strategy: The financial projections and growth strategy appear unambitious, with insufficient budget for app development and unrealistic user growth expectations.