Contributed by: kellyseal Monday, April 29 2019 @ 10:04 am
Match Group announced some changes in key leadership and company structure in light of its new focus on the Asian market.
As U.S. and European markets make up the bulk of revenue for Match Group, the company sees great untapped potential in Asian markets, where young single populations are booming. According to Tech Crunch[*1] , there are more than 400 million singles in Southeast Asia and two-thirds have not tried a dating app.
Match Group is focusing on Japan, Taiwan, India, South Korea and Southeast Asia with three new general managers hired to oversee expansion in these areas. One manager is Junya Ishibashi, who will become general manager of Match Group for Japan and Taiwan. Taru Kapoor will be general manager of Match Group India, and Lyla Seo is now GM of Match Group for South Korea and Southeast Asia.
Alexandre Lubot will remain CEO of Match Group EMEA & APAC, overseeing brands across Europe, the Middle East and Asia.
Match Group owns a host of popular dating apps, including Tinder, OkCupid, and Hinge among others. The company has invested in marketing these apps over the past year, distinguishing them from each other in an attempt to address the needs of daters with different objectives. Also, Match Group aims to compete directly with Facebook Dating, which has already launched in some countries, though not yet in the U.S.
Match Group’s timing coincides with Bumble’s recent launch in India, in which the female-friendly app partnered with Indian actress Priyanka Chopra for the rollout. India has been a challenging market for dating apps because of the cultural resistance to them. Historically, Indian men using the apps vastly outnumber the women, and Indian women who do use the apps are overwhelmed with messages. With Bumble’s careful rollout in India, they are addressing this issue upfront by helping females network for jobs and expand social circles via the app, instead of putting the focus solely on dating.
For Match Group, launching Tinder could be more of a challenge in India, as its recent “Swipe Life” marketing campaign is centered around casual dating.
Match Group CEO Mandy Ginsberg remains optimistic. “Taru was originally hired to grow Tinder in India, but a little more than a year ago we increased her responsibilities to oversee the growth of other Match Group products in the country,” she said in a statement. “During that time Tinder has become a big brand in India, but Taru also has meaningfully grown OkCupid’s user base in India over the last six months due to her keen understanding of the market and culture.”
Tech Crunch reported that Ginsberg hopes that in five years’ time, a quarter of Match Group’s revenue will come from Asia. Currently, half of the company’s revenue comes from outside the U.S.