Milestones

Metaverse dating apps have become popular among singles in China, and now one of the most popular - Soul - intends to go public in the Hong Kong market. It is backed by tech giant Tencent, with Bank of America Merrill Lynch and CICC serving as co-sponsors.

Soul lets users create and use avatars (often resembling Japanese anime) to interact over the app, and rivals TikTok for time spent engaging on the app – an average of about 40 minutes per user, according to South China Morning Post. It currently has over 32 million users.

Downloads and engagement have grown in part due to recurring lockdowns across the country from Covid-19 outbreaks. Between 2019 and 2021, Soul’s monthly active users went from 11.5 million to 31.6 million, according to parent company Soulgate.

Google has reached an agreement with app developers who sued over unfair Play Store practices, including charging a 30 percent commission on all in-app purchases. Part of the settlement requires Google to pay developers $90 million in lost revenue over the years, including Match Group.

According to Tech Crunch, in addition to the $90 million payout, Google will be revising its Developer Distribution Agreement to allow developers to contact users outside of the app, and to be more transparent with annual reports detailing app removals and account terminations, for example. In addition, Google will add a new “Indie Apps Corner” to its Play Store to highlight apps made by smaller startups and independent developers, who often get overlooked for the big players.

The settlement doesn’t resolve a larger problem of allowing developers to use third party payment systems and cutting Google Play and Apple Stores out of these commissions, which currently is not allowed in either store. Match Group and others have sued both Apple and Google for the right to have their own in-app payment system without forcing users to go through the stores, and for having to pay a percentage of every purchase to the tech giants.

Dating app Grindr announced it will become a public company through a merger with Tiga Acquisition, and that the combined companies have been valued at $2.1 billion.

According to Bloomberg News, Tiga is a special acquisition company and isn’t offering any private investment in public equity (PIPE) deals but will provide Grindr with an estimated $384 million in cash proceeds, which includes $284 million of Tiga’s cash in trust plus up to $100 million in a forward purchase agreement. The company will use the funds to pay down debt and invest in future growth.

Grindr had several offers from other SPACs before merging with Tiga.

Dating app Bumble has been urging states to pass bills similar to the one it initiated in Texas, which makes it illegal for people to send unsolicited nude photos electronically. In mid-April, Virginia passed such a bill into law.

According to the new law, any adult sending an unsolicited “intimate image” electronically to another adult could be fined up to $500. The law defines intimate image as a “photo, film, video, recording, digital picture or other visual reproduction of a person 18 years of age or older who is in a state of undress so as to expose the human male or female genitals.”  

USA Today spoke with Bumble about how company's head of public policy for the Americas, Payton Iheme, reached out to Virginia Senator Jennifer McClellan for help with the legislation, since the company had success a few years ago passing a similar bill in Texas. The Virginia Senate had voted down another lewd photos bill two years before that carried criminal penalties, but since the new bill introduced civil penalties only, lawmakers felt more comfortable passing it into law.

Tinder announced this week that it has added background checks to its features, thanks to its ongoing partnership with security company Garbo.

Starting now in the U.S., Garbo’s new online background check platform will be available to the general public and launched to Tinder members via the app’s Safety Center. The new service allows easy access to public information about a potential match’s history of violent or harmful behavior, including arrests, convictions, and sex offender registry records.  

According to the company's press release,  Tinder users can tap on a blue safety shield from anywhere in the app to be taken to the Safety Center. From there, they can tap on the Garbo article to be redirected to Garbo’s website where they can provide information about their match – typically only a first name and phone number. If Garbo needs more information, they’ll ask, which may include age.

Dating platform Bumble announced that it will be stopping operations in Russia and Belarus because of the invasion of Ukraine. The company has removed its apps from the Apple Store and Google Play in both countries.

In addition to its signature apps, Bumble has removed its new and popular French app Fruitz, as well as Badoo which is popular across Europe, from app stores in Russia and Belarus, according to The Washington Post.

According to ABC local news in Texas, Bumble said it stands to lose about $20 million in revenue from Russia, Belarus and Ukraine due to the halting of operations. The Washington Post estimates this is less than .1 percent of the Bumble app’s revenue, and 2.8 percent of its revenue across all of its apps.