FAST COMPANY – Grindr is introducing a web version for paying users to access the platform on desktop computers. The web version, known as "Grindr Web," features larger photos and the ability to view six profiles at a time while chatting and browsing potential matches. Initially available to "XTRA" and Unlimited subscribers, Grindr Web may expand to non paying users during its beta phase.
Category: Reporters – Jessica Bursztynsky
Malgosia Green Will Lead Match Group’s Asian Expansion
FAST COMPANY – Malgosia Green is three months away from uprooting her life in Vancouver and fully immersing herself in Singapore as CEO of Match Group Asia. She was appointed to the newly created role earlier this year by Match Group CEO Bernard Kim. Prior to taking over as CEO of Match Group Asia, Green led Plenty of Fish for five years. Malgosia Green will be focusing on expanding the company's presence in Asia, particularly in Japan, where there is significant potential for growth. ~50% of women and 70% of men in their 20s in Japan are single, according to a 2022 white paper from the Japanese Gender Equality Bureau. Green also aims to bring the Hinge app to new Asian markets in the coming quarters. It currently operates in India. Much of Green's mission is focused on Hyperconnect, the Seoul-based social media and video tech company Match acquired in 2021 for $1.73B. Part of that development will be in AI, Green says.
Tinder Explores $500/Month Subscription With ‘Tinder Vault’ for High-Value Dating Experiences
Grindr Reports Revenue Growth of 34% in Fiscal Year 2022 Results
FAST COMPANY – Grindr reported 2022 earnings of $195M, a YOY growth of 34%, and expects its revenue to grow by 25% in 2023. The app also reported an increase in monthly average users to ~12M and paying users grew to 873,000 from 703,000 YOY. Grindr's CEO, George Arison, says that the company is looking at launching a lower subscription tier and improving its monetization by optimizing pricing segments better. The company is also adding more features to its app to convert non-paying users to paid or partly paid offerings. Despite the decline in Grindr's stock price since its debut in November, Arison is confident that the stock price "will take care of itself" as the company continues to show growth potential.
Hinge Is Rolling out Its $50 per Month Subscription Today
Facebook Groups Became the New Matchmaker
FAST COMPANY – Burned out on dating apps, singles are turning to Facebook's private Groups. Depending on the group, users will share pictures of themselves or of a friend who is looking for a relationship, and then will field the responses. Date Him New York, for example, has amassed 2K members since its creation in August.
Match Group Expands Background Checks to Match.com and Stir
CNBC – Users on Match.com, which is popular among serious daters, and Stir, which is for single parents, will now have access to screen potential dates through the apps. Match Group has been working with Garbo, a nonprofit background check platform that shows public records including arrests, convictions and sex offender registry information, since a 2021 investment in the company. Match Group then launched a pilot program with Garbo on Tinder. Each search costs $2.50 plus a 75-cent processing fee per transaction. The company declined to comment on how many people have used the service through Tinder.
by Jessica Bursztynsky
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Mark Brooks: The RealMe is also very worthy of your consideration, and bring together a large pool of background check resources from around the world. RealMe have an industry-specific offering for the dating industry and are a client of Courtland Brooks and support OPW. See dating offering.
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Tired of Swiping Left, Singles Are Turning to New Matchmaking Services for Dates
CNBC – Some singles, sick of swiping, are going back to matchmakers. There's an emerging crop of apps looking to bring matchmaking to a new generation, mixing old methods with modern technology. One newcomer is Lox Club, a members-only dating app founded in 2020 by CEO Austin Kevitch. Lox Club charges $96 for 12 months. The company offers access to matchmakers, who can set users up with one another or give feedback on the person's profile. Another company is Ambyr Club. Ambyr, launched late last year, hosts two to three events a month at trendy locations for a select group of 10 men and 10 women. Ambyr pairs the 20 people based on who they think would be a good fit. All members have gone through an interview and background check. Applicants pay a $60 application fee and $150 for each event, if they're chosen. Ambyr says it has a 15% acceptance rate and ~200 members in its database. In November, Match.com introduced a human matchmaking element to its dating service. For $4.99 per week, Match employees will flag two profiles a week in an effort to narrow down the options.
by Jessica Bursztynsky
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Match CEO and Bumble Create Relief Funds for Employees Affected by Texas Abortion Law
Dating Apps Are Turning to Video and Audio to Link People up
CNBC – Aug 28 – The pandemic has caused a level of disruption that's allowed companies to consider what the future of dating apps without mindless swiping might look like. Bumble's "Night In" trivia feature lets users set up a virtual trivia date if they match with someone. It also allows users to send voice memos. Tinder has "Swipe Night," a live, interactive dating feature where singles follow a storyline together. The addition of videos and audio will let people interact in a way that hasn't been done yet with online dating, with the hopes they'll spend more time on the apps. 40% of Tinder users plan to continue using video even when the pandemic is over. Earlier this summer, Match Group closed its $1.7B acquisition of Hyperconnect, a social networking company. That will allow the company to focus on its research & development, adding more live chat features and video experiences to its apps. Match COO Gary Swidler said Match Group expects at least two of its brands to use Hyperconnect tech before the end of the year, while a number of other brands will implement its tech by the end of 2022.
by Jessica Bursztynsky
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