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Category: POF

Match Group Q3 Earning Call Highlights

Posted on November 6, 2020

Match group logo jan 2017OPW – Nov 6 – Yesterday, the Match Group announced Q3 financial results. Revenue was up 18% YOY ($640M). Operating income was $200M, up 14% YOY.

  • Average Match Group subscribers reached 10.8M, up 12% YOY. North American average subscribers grew 9% YOY, and international subscribers grew 16%.
  • Tinder's average subscribers increased a little over 900K YOY, 16% growth.
  • Tinder's developed markets are performing well, but in India and parts of Latin America and Southeast Asia, the virus is still impacting Tinder users.
  • 23% YOY direct revenue growth at the non-Tinder brands in Q3. These brands added ~275K average subscribers YOY.
  • Solid live streaming revenue growth at Plenty of Fish.
  • Newer brands like Chispa and BLK are contributing significant revenue growth. Hinge has been the standout this year, with 82% year-to-date growth in downloads and outstanding progress on monetization. Collectively, these new and emerging brands, including Pairs, grew 88% in the Q3.
  • For Q4, Match Group expects total revenue of $640M to $650M, which would represent 17% to 19% YOY growth.
  • Hinge monetization efforts made this year have worked (launch of Standouts and Roses – similar to Super Like on Tinder)
  • Tinder Platinum is being tested in 10 markets, plans to roll it globally by the end of the year.
  • Match Group launched a new brand Upward which is targeted to the Christian community in the U.S.

See the top news on Match Group

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Q&A With Kate Manolis, COO of PlentyOfFish

Posted on October 16, 2020

Pof kate manolis linkedinAUTHORITY MAGAZINE – Oct 13 – Kate spent the past 12 years helping drive POF to be one of the world's most popular dating apps.

Q: What led you to this particular career path?
A: I fell into tech completely by accident, starting in a junior role at a small tech company in the early 2000s where I met the founder of Plenty of Fish. I stayed and grew with that company for 5 years until 2008, at which point I was invited to join POF to help it scale.

Q: Can you share the most interesting story that happened to you at PlentyOfFish?
A: The most interesting thing is how we were able to run a company of Plenty of Fish's scale with so few people. Initially, my friends and family responded to my new job with "Oh…why?" and now people respond with "Oh…WOW!". To have lived and worked through that transition has been fascinating.

Q: Why do you think it is so important for a company to have a diverse executive team?
A: Working with people from different backgrounds will ensure more creative, innovative ideas and approaches. I am also proud to work for an organization that has a strong female leadership.

Q: What makes a great executive?
A: A great executive is someone who is capable of recognizing opportunity and setting a vision. It's less about monitoring work or assigning tasks, and more about empowerment. A great executive is someone who has a vision but trusts their team to execute on that vision.

Q: What is the most striking difference between your actual job and how you thought the job would be?
A: I did not imagine POF reaching the scale that it has. When I joined, it was a website run out of an apartment – and I was the first employee. 7 years later, PlentyOfFish would become Canada's 4th biggest tech exit. I did not think I would end up being an executive at a subsidiary of a $30B company.

Q: What are your "5 Things I Wish Someone Told Me Before I Started"?
1. Expect to work a lot.
2. The job is never done.
3. It's lonely at the top. It's important to build your network outside of your day-to-day team and company.
4. Learning never stops.
5. Hire the right people.

by Candice Georgiadis
See full article at Authority Magazine

Mark Brooks: I (under Courtland Brooks) was a contractor at POF when Kate came on board as the first employee. Markus was working out of his apartment and it became very apparent he needed someone to help him grow the company personnel and establish a company culture. Kate is a great heart and soul and torch bearer for the POF company culture.

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Plenty of Fish to Partner With Self-care App Shine

Posted on October 3, 2020

Plentyoffish shine logosPR NEWSWIRE – Oct 2 – According to a recent study from Plenty of Fish, one-third of U.S. singles have experienced increased levels of anxiety over the past six months. To help daters find some relief and prioritize mental health, Plenty of Fish is partnering with Shine, a self-care app created by women of color, to provide free Shine Premium memberships to 5K Plenty of Fish members.

See full article at PR Newswire

See the top news on POF

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The Meet Group: World’s Largest Virtual Speed Dating Event

Posted on September 18, 2020

Tmg pof speed date eventBUSINESSWIRE – Sep 16 – The Meet Group will host the world's largest virtual speed dating event, partnering with Plenty of Fish to each donate $10,000 for a total of $20,000 to Feeding America on Sun 20th Sep. Available to MeetMe, Skout and POF members. "The pandemic has forever changed the nature of dating, tilting it toward video," said Geoff Cook, CEO of The Meet Group. "With 1.2m broadcasters and 8.9m viewers per month, our livestreaming solutions are changing the nature of dating apps, adding an element of social entertainment while providing meaningful connection and an antidote to loneliness. We are thrilled to partner with Plenty of Fish to host the world's largest speed dating event."

In a recent survey of MeetMe daters, 76% of respondents said they feel they are better able to connect with people over video. The average participating member on The Meet Group's livestreaming platform spends 30 mins a day streaming or watching and 7.6m matches were made on NextDate since March. "As one of the first dating apps to bring livestreaming to our members, we've continued to see enthusiasm for distance dating," said POF CEO Malgosia Green.

See full article at Businesswire

5.5m+ Plenty of Fish members have used the livestreaming feature since launch and 250k+ POF members use the feature daily. 50% of livestreaming users are Gen-Z and millennials.

See full article at PR Newswire

See the top news on The Meet Group
See the top news on POF

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MeetMe’s Live Video Dating: Dating Online With an Audience

Posted on September 2, 2020

Meetme icon 2020BBC – Sep 2 – On dating app MeetMe, users broadcast live from their phones and then interact with people who tune in. This live vlogging format includes a series of live dating game shows. Livestreamers are paired up to see if there is any chemistry between them. Viewers comment on a "stream" underneath, in real time. MeetMe is part of a suite of dating apps run by The Meet Group. Others include Skout, Tagged (for African-American audience) and Lovoo (an app developed in Germany, which MeetMe bought). Between them they have ~15M users, and on average 180K dating games are played each day, with ~1M people watching the live dates unfold. CEO Geoff Cook describes the platforms as "a public version of speed dating". Plenty of Fish is also currently offering live dating experiences. Badoo has recently experimented with the idea as well. 

Watch the video.

by Dougal Shaw
See full article at BBC

Mark Brooks: Geoff Cook, CEO of The Meet Group, made a couple of impactful statements in the BBC video interview.  Geoff said, "I certainly believe daters no longer have the risk appetite for meeting many different people in person based on something as shallow as a right swipe." This risk, of course, is heightened right now because of covid.  However, there's always been additional risks when daters meet in-person for the first time. Especially the risk of disappointment when people have misrepresented themselves in their dating profile and photos. The best thing about video is, video doesn't lie, so when people meet in-person, they're less likely to be disappointed, or catfished. Geoff also stated "…Live-streaming video helps…by really emphasizing personalities" which I think is why this new video dating norm will be here to stay. It's so tough for dating apps to really help people get a sense of chemistry.  But with video, users can actually get their first sense of chemistry. That's huge! (Full Disclosure: The Meet Group are a client of Courtland Brooks)

See the top news on The Meet Group

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Dating Is Costing Brits £1,300 a Year

Posted on July 29, 2020

Pof logo 2019 higher resolutionMARIECLAIRE.CO.UK – July 28 – Looking for love is costing single Brits ~£1,349 a year. Plenty of Fish surveyed 2K single adults and found that on average, they go on thirteen dates a year with each meet-up costing ~£106.06.

by Jadie Troy-Pryde
See full article at MarieClaire.co.uk

See the top news on POF

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Dating Apps Pivot to Video

Posted on July 2, 2020

WALL STREET JOURNAL – July 1 – With social distancing recommendations and laws in effect across the country, meeting people online and developing relationships virtually has never been more popular. Georgia Wells, WSJ's technology reporter and Mark Brooks, CEO of the Courtland Brooks consultancy-agency explore what this shift means for the future of online dating.

See full article at Wall Street Journal

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The Meet Group Gains New Strength With Innovations in Interactive Dating

Posted on June 30, 2020

Themetgroup logoINVESTORPLACE – June 30 – Blind dating gets a modern upgrade, making MEET stock a potential winner even amid the pandemic. The Meet Group has recently announced the rollout of an interactive game known as Blind Date. This will be an addition to The Meet Group's popular NextDate game, which "is like speed dating, except that there's an audience and the contestant gets to choose the specific people they'd like to connect with," according to CEO Geoff Cook. The Blind Date game will be integrated into The Meet Group's MeetMe, Skout, and Tagged. It will also be integrated into Match Group's Plenty of Fish. Blind Date should serve to increase user engagement. MEET stock could easily reclaim its former high point as the company's innovative spirit could bring people back into the dating game again.

by Louis Navellier
See full article at Investorplace

See the top news on The Meet Group

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As Video Dating Soars, Diller’s Match Spinoff Can Make Investors A Killing

Posted on June 30, 2020

Match group logo blue 2019FORBES – June 29 – Tinder is now the number one downloaded dating app worldwide, while products like OkCupid and PlentyofFish make up Match's 9.9M paid users up from 4M in 2015. The Spinoff of Diller's 80% stake in Match could not have come at a better time for the dating app company, as it expertly morphs into video dating. If successful, it will roll out its new-era live camera dates across the group's brands, as singles' desire for interaction grows. The transaction will allow IAC to clean its balance sheet by transferring all debt (~$1.9B) to the Spinoff and end up holding $2.9B in cash. Currently, Diller and his family collectively own a 6.9% stake in IAC. His personal economic stake in MTCH ensures that he has an incentive to keep the company’s growth prospects intact. With a ~5% stake post-Spin (considering a distribution ratio of ~2.37x), a large portion of his net worth will be tied to MTCH.

by Jim Osman
See full article at Forbes

See the top news on Match Group

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The Meet Group Releases Blind Date to MeetMe, Skout, Tagged, and Plenty Of Fish

Posted on June 23, 2020

Pof blind datePRESS RELEASE – June 23 – The Meet Group, a leading provider of interactive dating solutions, has released Blind Date, a new interactive game rolled out to The Meet Group's MeetMe, Skout, and Tagged mobile apps, as well as Match Group's Plenty of Fish. The new feature will allow users to meet and date through a timed video chat that is based on personality rather than appearance. "A recent survey of MeetMe users found that 91% of members wish that dating was more focused on personality, and 77% would chat with someone before seeing what they looked like," said Geoff Cook, CEO of The Meet Group. "We are seeing that our members value personality over attractiveness, and with Blind Date, they are given the opportunity to chat first and gain a sense of who they are connecting with."

See full article at The Meet Group website

See the top news on The Meet Group
See the top news on POF

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