by Jacob Gershman & Sara Randazzo
See full article at WSJ
See all posts on ChristianMingle
See all posts on Spark Networks
Category: Outlets – Wall Street Journal
South Asian Dating App Dil Mil Raised $2.7M
WSJ – Mar 31 – Dil Mil Chief Executive KJ Dhaliwal realized apps like Tinder, Hinge and Coffee Meets Bagel weren't inclusive of the needs of the South Asian community, where dating can be taboo and arranged marriages still occur. Mr. Dhaliwal said 90% of South Asians marry within their own community and those users needed their own app. His matchmaking app Dil Mil has now made ~1.3M matches. The company recently raised another ~$2.7M. It has raised $3.8M in seed financing to date.
by Cat Zakrzewski
See full article at WSJ
This post also appears on InternetDatingInvestments.
Lisdoonvarna, Tiny Irish Town, Draws Big Crowds Looking For Love
WSJ – Dec 9 – This year, ~60K singles descended on Lisdoonvarna, a former spa town, for a six-week-long matchmaking festival. Matchmaking has become a cottage industry for the town of ~700 residents, which gets an annual boost from those looking for love. People meet at the dances throughout the festival, starting at noon and often ending at 3am. Most attendees are Irish, but more English and Americans have been coming in recent years.
Baihe To Buy Chinese Dating Site Jiayuan
WSJ – Dec 7 – Jiayuan.com International, the largest online dating platform in China, agreed to be bought by Baihe for $7.56 per share in a deal that values the company at ~$250M. The deal is expected to close in Q1 of 2016. Jiayuan executive Linguang Wu will become co-executive of the new company, which will be changing its name.
by Austen Hufford
See full article at WSJ
This post also appears on InternetDatingInvestments.
Match Group Files For IPO
WSJ – Oct 16 – Match Group, owner of Tinder, OkCupid and Match.com has filed to go public on Friday. Their shares would be listed on Nasdaq under the symbol MTCH. The preliminary filing indicated Match would raise up to $100 million. Match Group's parent company IAC will retain over 50% of voting rights after the IPO.
The company logged $888.3 million in revenue in 2014, up about 11% from the previous year, according to its filing with the Securities and Exchange Commission. Match's net income for 2014 was $148.4 million, up 18% year over year. All Match's dating properties have more than 59M MAU and approximately 4.7M paid members.
by Georgia Wells & Maria Armental
See full article at WSJ
This post also appears on InternetDatingInvestments.
Proper Grammar Is Really Hot On Dating Sites
WSJ – Oct 1 - Match.com asked ~5K singles what criteria they used most in assessing dates. Beyond personal hygiene, it was grammar. 88% of women and 75% of men care about grammar most, putting it ahead of a person’s confidence and teeth. The Grade, a new dating app, checks messages for typos and grammar errors and assigns each user a letter grade from A+ to F. One reason people judge grammar and spelling snafus so harshly is that they can reflect the level of effort, or lack thereof, that folks put into their bio. Certain types of typos are also associated with fraud.
by Georgia Wells
See full article at WSJ
The Ashley Madison Hacker Might Be Tweeting
WSJ – Aug 27 – The Royal Canadian Mounted Police and the Federal Bureau of Investigation are investigating the hack of Ashley Madison. Security blogger Brian Krebs thinks he has a clue. A self-described hacker who calls himself Thadeus Zu on Twitter appears to have had intimate knowledge of the hack, has defended the hackers and appears to be a fan of the AC/DC song, "Thunderstruck," which played a key role in the breach. "It's not uncommon for people involved in hacks to have trouble keeping their mouths shut," said Mr. Krebs.
by Danny Yadron
See full article at WSJ
Online Dating Fuels New Danger For Gays In India
WSJ – July 8 – Since India’s Supreme Court re-criminalized gay sex in 2013, homosexuals have increasingly become targets of robbery and extortion, gay men and activists say. The trend has also been fueled by the rise of Internet dating. In Dec '13, India’s Supreme Court found the law, which dates to the British colonial era, wasn’t unconstitutional and could be changed or repealed only by Parliament, effectively overturning a 2009 lower-court ruling that made consensual gay sex legal. The law is known as Section 377. Gay-dating apps and websites, including Grindr and PlanetRomeo BV, have been expanding in India. In the six months through the end of April, Grindr's users had grown by ~50% YOY. The Internet gives many men a false sense of security, and men are often blackmailed for violating Section 377.
by Gabriele Parussini
See full article at WSJ
Match Group’s IPO Could Be A Success Story
WSJ – June 25 – IAC/InterActiveCorp has followed through on a long-expected plan to pursue an IPO of Match Group. Mr. Diller, IAC’s chairman, isn’t breaking up with Match Group entirely. The company is planning to sell a stake of less than 20% in the division, which includes fitness and educational businesses. Investors cheered the move, sending IAC’s shares up $3.93, or 5.1%, to $81.19. Match Group is IAC’s strongest growth engine, bringing in 29% of overall revenue in 2014. For all the buzz around dating sites, there hasn’t yet been a significant win for VCs in terms of an IPO, said Mark Brooks, CEO of Courtland Brooks, an adviser to dating companies. That’s been a challenge for entrepreneurs. "We need a success story, and I think the Match Group could be a success story," he said. If the IPO doesn’t go over well with investors, "we can kiss the opportunity of future funding goodbye."
by Georgia Wells & Lukas I. Alpert
See full article at Wall Street Journal
It’s Harder To Turn Profit In The Online Dating Business
WSJ – June 10 – Dating sites in the U.S. are expected to make $1.17B and dating apps $628.8M this year, up from $1.08B and $572M respectively in 2014, according to IBISWorld. “There are too many players and not a lot are generating sufficient revenue,” said Britanny Carter, analyst for IBISWorld. Even major players are under pressure: Zoosk withdrew its plans for an IPO and laid off 15% of its staff. Grindr recently hired investment bank Raine Group to help it find a buyer. But Grindr CEO Joel Simkhai said his service is profitable. Most of the apps that are generating revenue with a combination of ads and freemium features. Users still pay to join some dating sites because it allows them to meet others who have chosen to pay to meet people as well. "It demonstrates a lot of commitment when someone has put a coin on the table," said Mark Brooks, CEO of Courtland Brooks, a company that helps dating companies with business development. eHarmony logged ~$275M in revenue, its highest level in several years.
by Georgia Wells
See full article at WSJ