Online Dating

Thirteen former employees are speaking out about Badoo, Andrey Andreev’s dating-focused social network and parent company to Bumble. In an expose published by Forbes, the employees describe a lengthy history of workplace misconduct, including sexism, racism, drug use, wild parties and a possible tax evasion scheme.

Many of the lurid details revealed in the Forbes report occurred during Badoo's period of rapid growth from 2010 to 2012. Badoo launched its iPhone app in 2010. The following year, the company soared from 20 million user signups to 100 million in four months, and earned $200 million in revenue. As Badoo grew, so did its salacious reputation. It is estimated that in 2018, Badoo had just over $300 million in revenue.

Four years after a hacking scandal threatened to bring it down, Ashley Madison is celebrating a milestone. The notorious infidelity dating site has reached 60 million members worldwide since launching in 2002.

"Our unique community of like-minded people continues to grow across the globe," said Paul Keable, Chief Strategy Officer of Ashley Madison, in a prepared statement. "We offer discretion to those seeking infidelity, and clearly, with strong results underscoring the company's growth, what we offer is in demand."

Ashley Madison’s latest annual Report on Customer Statistics reveals that more than 14,500 new member accounts were added on average each day in 2018. For every active paid male account, 1.1 active female accounts were created. The site averages more than 440,000 new signups per month and facilitates more than 39.5 thousand affairs per day. In total, over 5.3 million new accounts were registered on Ashley Madison last year.

Dating app Tinder has a hook-up reputation – and because of this, users in more conservative countries in Asia might be hesitant to try the app. In response, Tinder is revamping its image to maintain its growth streak.

Dating app growth overall has slowed in the U.S. as the market becomes saturated, and it is expected to slow even more through 2022. In order to expand its opportunities, Match Group – Tinder’s parent company, has put a lot of resources into the Asian market, including hiring key executives to oversee the region and advertising its suite of apps.

Image: Cosmopolitan

Single life is full of ups and downs, and while the dramatic moments are not always fun to live through, they make for great entertainment. Tinder has partnered with women’s lifestyle magazine Cosmopolitan to create a branded podcast that digs into what dating is really like across the United States.

‘Single, Swipe, Repeat’ is a 12-episode audio show hosted by Faye Brennan, Sex & Relationships Director of Cosmopolitan. Brennan is joined each week by a celebrity guest host to break down the most memorable, hilarious, emotional, romantic and relatable dating stories shared by Tinder users throughout the country.

Image: Zoosk

Online dating conglomerate Spark Networks announced its purchase of Zoosk for $258 million USD. The popular dating app was acquired with a combination of cash and stock, and Spark will have full ownership of Zoosk shares.

According to the terms of the deal, Spark will issue 12,980,000 ADSs (American Depository Shares) to former Zoosk shareholders, valued at $152 million based on the closing price of Spark ADSs of $11.78 on June 28, 2019. It also provides for a cash consideration of $150 million, subject to adjustment, according to the company’s press release. Former Zoosk shareholders owned 49 percent of the company.

A new study found that dating app users tripled in India over the course of 2018, thanks mainly to women.

Dating app usage in the Indian market has huge potential, and not just because of the impressive growth over the last year. Overall user penetration still rather low at 2.7 percent as of 2018, but it’s expected to hit 3.2 percent by 2023 according to online market researcher Statista. Analysts also expect the market to be valued at $100 million in the next five to eight years, according to a report in LiveMint.