Bumble

Tinder appears to be losing its steady growth of not only paid subscribers, but also new app installs. Bernard Kim is heading the dating app as well as its parent company Match Group and has installed a new executive team he hopes will turn the ship around.

According to Bloomberg, Tinder hit a high of almost 80 million users in 2020, in part due to a global pandemic and more people turning to dating apps while they were in lockdown. Since, the app has declined to 75.7 million users in 2021 and just last year fell to 71.1 million users.

At the same time, new users for Hinge and Bumble have increased. For Bumble, new installs of its signature app have jumped over 60 percent, from 18.1 million in 2020 to 29 million in 2022. And Hinge is showing strong growth as well, with 11.1 million new users in 2022 compared to 8.4 million in 2020.

Image: Vox Media

Vox Media’s award-winning podcast series Land of the Giants, which is about the biggest tech companies and their impact on our culture, will focus on dating apps for its second season.

Hosted by Lakshmi Rengarajan, who spent several years at Match Group, and The Cut’s Sangeeta Singh-Kurtz, the two explore the industry as a whole and the experience of dating app users. The series delves into how dating apps have changed how we approach dating, and how the dating app industry designs apps to keep people coming back.

The series was inspired by New York Magazine’s special issue evaluating the last ten years of dating apps, according to The Cut. After surveying thousands of daters about their experiences with popular dating apps like Tinder, Hinge and Bumble, New York Magazine found that people felt caught in a cycle where they enjoyed the swiping experience for a few weeks, but then when nothing much changed, they deleted their dating apps - only to return to them again.

Dating app Bumble has launched a new series of videos catering to countries within the Asian-Pacific (APAC) market, specifically India, Singapore, and The Philippines, to lessen the stigma surrounding its dating app premise: that women make the first move.

APAC countries, especially India, are fast-growing markets for dating apps as younger daters opt for technology over traditional dating methods like matchmaking. However, approaches to dating and matchmaking vary greatly between countries according to Lucille McCart, communications director for Bumble APAC said in an interview with The Drum. For example, religion and religious customs are more important in Singapore and the Philippines compared to markets like Australia and New Zealand.

As a result, Bumble has launched new videos catering to specific markets. The videos for Singapore and the Philippines are called “It Starts With Hello,” designed to create more levels of comfort for women starting a chat over the app. “In Singapore, 87% of people surveyed believed that men should take the lead and only 7% said that this is what is expected of women. Things are slowly changing in this regard, and Bumble is here to advocate for further progress,” McCart told The Drum.

Dating app Bumble recently surveyed its users to get a clearer picture of what singles are looking for as we head into the New Year, and found that attitudes are shifting when it comes to gender, sex, and work-life balance.

Surveying 14,000 of its users, Bumble’s findings point to some major shifts taking place in the dating world, notably around work-life balance. Workaholism is no longer prized, especially among younger daters who prefer to make time for breaks and leisure. More than half of all respondents said they are actively creating more space for rest, and 13 percent said they would no longer date someone with a very demanding job.

The pandemic’s effect on the workplace and peoples’ ability to keep working from home has also shifted attitudes about who to date. Thirty -three percent of respondents around the world say they are now more open to travel and cultivate a relationship with someone who doesn’t live in the same city.

Image: Bumble

Dating app Bumble hopes to share more positivity over its app with the launch of its new feature Compliments.

According to Tech Crunch, Compliments lets a user write a compliment to another user, even before they match. The recipient will be notified of an unread compliment when they log in to the app, putting it front and center. Each user is allowed one message per day to send in the Compliments feature.

To send someone a Compliment, users can look through a person’s profile and see what they would like to message about. The Compliment can be sent on whatever strikes a chord – something they wrote in their bio, a profile prompt response, or anything else. When the user has a Compliment in mind, they can click on the yellow icon at the bottom left corner of a profile (with a heart inside of a speech bubble), and a text box will open where the Compliment can be written. There is a limit of 150 characters per Compliment.

The value for dating app Bumble’s stock has dropped 14 percent after the company lowered revenue forecasts for the fourth quarter, and Gen Z users have increasingly stopped renewing their subscriptions.

Bumble expects Q4 revenue to be between $232 million and $237 million according to Reuters. This is lower than Wall Street projections of $254.5 million, according to Refinitiv data. Still, the company pointed out that paying users for the third quarter increased to 3.3 million from 2.9 million last year, a sign of growth despite the downturn.

According to Motley Fool, on a call with investors, Bumble CEO Whitney Wolfe Herd said that the economic slowdown affected spending for “certain segments of its user base,” notably younger daters, who were not renewing subscriptions at the normal rate. Motley Fool also noted that shares had already fallen 38 percent this year as investors fled dating and tech stocks in general, following a surge of interest and rising subscriptions in dating apps during pandemic lockdowns.