Marketing

Bumble surprised investors and analysts with its latest earnings report, which showed better-than-expected revenue in the last quarter of 2022. Shares of the company’s stock rose about 2 percent as a result.

According to Seeking Alpha, Wall Street analysts had expected fourth quarter revenue to reach only $235.9 million, but the company reported revenue of $241.6 million, up from $207 million in the same quarter the previous year.

Bumble also reported 3.4 million paying users during the fourth quarter of 2022, compared to 3 million in the same quarter of 2021. Total average revenue per paying user was about $23.01 for the fourth quarter of 2022, compared to 22.68 the year before.

Tinder unveiled several new safety features, including “Incognito Mode” where users can control their visibility as well as how they interact with others on the app. The new features were rolled out February 6th to coincide with Safer Internet Day.

According to Tech Crunch, “Incognito” is a bit more advanced than just being able to hide your profile – users who opt for this feature can still Like and Pass on potential matches, but only those they have “Liked” will be able to see them.

The new feature is available for paid subscribers for Tinder+, Gold and Platinum members only.

Match Group is expected to lay off up to 200 employees, or about 8 percent of its workforce (currently around 2400 employees before the cut) after sharing a disappointing outlook for the first half of 2023 in its latest earnings call.

According to Reuters, the company blamed “significant” poor product execution at Tinder, in addition to dealing with a tough economy and a strong dollar. CEO Bernard Kim brought in a new management team and is in the process of rebranding Match Group’s star app.

The layoffs were primarily in recruiting, with CFO Gary Swidler noting that the company is restricting its hiring to Hinge and other growth businesses, with notable cuts to Tinder staff.

Image: Bumble & Netflix

Dating app Bumble has teamed up with leading streaming service Netflix to launch a game that is themed around some of its most popular shows, including Emily in Paris, Squid Game, Selling Sunset, and Stranger Things, among others.

According to Netflix’s blog post, the new game called Netflix Nights In will challenge matches to find out how deep their knowledge goes about their favorite shows by answering questions like: “How much was Davina’s infamous listing in Selling Sunset?” In a twist, the game requires matches to answer the question before responses are revealed, and both will be able to see their compatibility based on their answers.

Stars from fan favorites like Ashley Park from Emily in Paris or Jonathan Daviss from Outer Banks will present new questions each week in the app, according to Netflix.

Dating app Hinge has introduced a $60 per month subscription plan for “highly motivated daters,” offering the app’s most premium service for a hefty price tag.

The new plan will offer subscribers more exposure and better recommendations for potential matches, according to Bloomberg who broke the story. For example, top-tier subscriber “likes” will be seen before others’ likes, giving them quicker access to people who interest them.

The new tier pricing almost doubles the cost of the existing premium service of $35 per month, but is still well below matchmaking rates, which run thousands of dollars per month. The new plan was mentioned in an earnings call in November, and while the company confirms it will be launching, it has not been officially announced.

Bumble has partnered with Kele Confectionery to offer its users in Singapore the chance to obtain a complimentary bin of treats in celebration of Chinese New Year. In addition, the dating app launched a new video intended to help break down barriers for single women during the holiday, when added pressures are put on them.

Sending a “love letter snack” to the object of your affection during Chinese New Year is an age-old practice in Singapore, and Bumble is hopping on the tradition to spread the love, and to get people to download the app. Since Bumble’s motto is “women make the first move,” the company has been focusing its efforts to appeal to young single women in more conservative cultures in the APAC region, like Singapore.

According to website The Drum, Lucille McCart, APAC communications director of Bumble, said about the promotion: “Our findings in Singapore indicate that cuffing season occurs around Chinese New Year to Valentine’s Day, owing to social pressures around being coupled up during this period. Bumble Love Letters is our contemporary spin on this age-old practice. We want to revive the tradition of initiating a date with treats but also encourage singles to show love to the ultimate date – themselves.”