Category: Outlets – Tech Crunch

Bumble Says It’s Looking to M&A to Drive Growth

Posted on May 13, 2024

BumbleTECH CRUNCH – Bumble said during its Q1 earnings call that it plans to use M&A "opportunistically" to help it better prioritize inorganic growth. Unlike its Match Group, Bumble hasn't been very active in pursuing growth via M&A. Its first acquisition was the French dating app, Fruitz, in Feb 2022, followed by an app for couples, Official, in 2023 for $10M. Now, Bumble says it will look to acquire other businesses that align with its growth goals. CEO Lidiane Jones said Bumble would consider a smaller app if it's doing something particularly innovative that Bumble could utilize in its apps or invest in.

by Sarah Perez
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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.

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Match-Owned Archer Hits Over Half a Million Installs

Posted on May 6, 2024

Archer logoTECH 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.

by Lauren Forristal
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Bumble Introduces ‘Opening Move’ Feature to Simplify Starting Conversations

Posted on May 1, 2024

Bumble Opening moveTECH CRUNCH – Bumble has launched a new feature called "Opening Move" to simplify the messaging process for women by allowing them to pre-write opening lines. This part of a larger app update also introduces options to preset questions, specify dating intentions, and enhance profile content. Bumble experimented with the Opening Move feature in various markets, including New Zealand and Australia, siad new CEO Lidiane Jones. According to Bumble, during the testing phase, the feature led to higher reply rates and longer conversations.

by Lauren Forristal
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Hinge Adds a Way to Mute Messages Containing Words Users Specify

Posted on April 25, 2024

Hinge hidden words
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.

by Ivan Mehta
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Tinder Introduces ‘Share My Date’ Safety Feature

Posted on April 22, 2024

Tinder Share My Date
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.

by Lauren Forristal
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Pitch Deck Teardown: Queerie’s $300K Pre-seed Deck

Posted on April 8, 2024

Queerie icon
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.

by Haje Jan Kamps
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Bumble’s New CEO Talks About Her Critical Mission

Posted on March 29, 2024

Bumble Lidiane JonesTECH CRUNCH – Lidiane Jones, the new CEO of Bumble, is tasked with revitalizing the company amidst challenges like user fatigue and declining share prices. Her strategy includes leveraging AI, expanding margins, and enhancing the user experience to make dating fun again. Bumble plans to relaunch its app, potentially redefining its signature "women make the first move" approach to give women more control and flexibility based on what works for them. Jones also emphasizes the importance of security, considering AI and policy advocacy to ensure online safety. "Background checks are one that we are exploring. It is a priority for me," she said.

by Connie Loizos
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A Third of Bumble’s Texas Workforce Moves out After ‘Heartbeat Act’

Posted on March 18, 2024

Bumble for social mediaTECH CRUNCH – A third of Bumble's Texas workforce moved out of the state after the passage of the 'Heartbeat Act' abortion bill. The company supports remote work and has joined a lawsuit against the Texas abortion law, citing its impact on business and talent retention. Bumble has also enhanced healthcare benefits to cover reproductive rights.

by Sarah Perez
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Twitter’s Former Head of Trust & Safety, Yoel Roth, Joins Match Group

Posted on March 12, 2024

Match Group Yoel RothTECH CRUNCH – Yoel Roth, former head of Trust & Safety at Twitter, has joined Match Group as VP of Trust and Safety. Roth, who faced harassment at Twitter, will now focus on ensuring safety across Match Group's dating apps, including Tinder and Hinge. With experience in handling online abuse, Roth aims to enhance user protection, particularly against scams and fraud. He also advocates for collaboration with app stores to improve safety measures. His move comes at a time when online dating safety is a growing concern, with a recent Pew Research study showing declining trust in the safety of online dating.

by Aisha Malik
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Bumble Cuts ~350 Employees

Posted on February 29, 2024

Bumble Lidiane JonesTECH CRUNCH – Bumble reported disappointing Q4 2023 results with a $32M net loss and revenue of $273.6M, falling short of expectations and leading to a ~10% stock price drop. In response, CEO Lidiane Jones announced a 30% workforce reduction and a plan to overhaul the app, focusing on AI, safety, and appealing to younger users. The company faces stiff competition from Match Group and has struggled with slowing growth and a user base hesitant to pay for premium features.

by Kyle Wiggers
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