Hinge

The share value for dating app conglomerate Match Group was downgraded from buy to hold in mid-September by a Wall Street analyst who projects the company will fall short on revenue goals until the end of the year.

According to Seeking Alpha, Loop Capital Analyst Laura Champine said Tinder remains a “wildcard” on the heels of Renate Nyborg’s exit from the company, the app’s market share losses to Bumble, and “cannibalization” of Tinder by the company’s other star app Hinge. She also lowered her price target from $70 to $60 a share, adding that “we see potential for further misses” going into the next quarter. 

Champine added that CEO Bernard Kim will be able to “bring in exciting talent” from outside the company, which she takes as a promising sign. Still, she said of the company’s star app: "Tinder has not been executing in line with expectations…Match blamed Tinder for its lower outlook overall and said product launches had been poorly executed of late. The brand needs to do a better job attracting new customers," according to Seeking Alpha.

A new survey from dating app Hinge found that young Gen Z daters are no longer interested in hookup culture, thanks to the isolation they felt from the pandemic.

Forty-five percent of Gen Z daters surveyed felt that they had changed their dating habits for the better since the pandemic began - and are only interested in relationships that would be “additive” to their lives, according to a report from New York Post.

In addition, 39 percent of those surveyed said they were pickier about who they dated since the pandemic, and 91 percent of these respondents said this was because they didn’t want to waste time on the wrong person.

Hinge announced a new feature called Not-so-Frequently Asked Questions to help its users discuss sensitive topics when they aren’t quite sure how to approach the subject.

The new feature is designed with LGBTQ+ daters in mind according to Gizmodo, and aims to help answer the questions many people have but that they are afraid to ask, like questions around substance abuse, gender identity, or even how to set up a date with your ex’s ex.

Some personal subjects have traditionally been off limits when you are first meeting someone or striking up a conversation over a dating app, but Hinge wants to change this. Important topics require discussion up front before delving into a new relationship – like questions about faith, substance abuse, sexual identity, and sexual exploration. Plus, discussing personal topics honestly helps people better connect, which is one of Hinge’s main promises.

Revenue growth for dating conglomerate Match Group has fallen in a disappointing second quarter for the company. The market responded and the company’s stock fell more than twenty percent, bringing its stock price down 42 percent of its value since the beginning of the year.

Match Group held its earnings call with investors, reporting revenue of $795 million compared to $804 million that analysts expected. In addition to this, Match Group lowered revenue forecasts for Q3 from $800 to $790 million according to CNBC News, which includes the impact from foreign exchange rates falling compared to the dollar. To complicate things for Match Group, it also means that there would be no growth at all between the quarters.

There were some hopeful signs despite the news. The company pointed out that overall revenue grew twelve percent compared to this time last year. In addition, the number of paid users increased 10 percent to 16.4 million according to the shareholder report, and revenue per paid user rose three percent to $15.86.

Hinge announced that it has launched a new feature called “Dating Intentions” to encourage users to be more honest and upfront about what kind of relationship they are looking for.

According to Tech Crunch, the feature allows users to select a dating goal from a drop-down menu, which will be displayed in their profile. Some options include “life partner,” “long-term,” “open to short-term,” “short term, open to long-term,” “short term,” and “figuring out my dating goals.”

Online daters have grown increasingly frustrated with forming relationships that go nowhere, or that are layered in ambiguity. Some find it difficult to ask their dates what they are looking for in a relationship in the early stages, which leads to a lot of misunderstanding and heartache down the line, after they’ve invested emotionally in the relationship. Hinge hopes the new feature will help alleviate that, or at least help spark a conversation before the first date so both parties know what to expect.

Dating app Hinge announced it has started a fund to support aspiring therapists and counselors from the LGBTQ and BIPOC (black, indigenous and people of color) communities. It will be providing $10,000 in scholarship to ten people towards their education in these fields, according to Mashable.  

From May 18 through June 17, applications for the fund will be open to U.S. college and graduate students in the mental health field, who can apply via the website HingeAdvocatesofTomorrow.com. According to Mashable, applicants complete the form and respond to two prompts about the mental health and wellness needs of the LGBTQ and/or BIPOC communities, and from there, twenty finalists will be selected. The finalists will be asked to create a video about how the scholarship will support their individual journey as well as their career.

Hinge has also collaborated with artist and mental health advocate Fariha Rosin, who authored a book on mental health resources for marginalized communities. She said in the company’s press release: “These times can be really dark and overwhelming in a lot of ways and that’s why we need mental health advocates. This initiative is helping people become the light bearers, creating generational ripple effects of healing.”