Milestones

Match Group is taking the dating app experience to the next level by testing a new “metaverse” where users can create avatars that interact with each other over the app.

According to Tech Crunch, news of these plans came during the company’s third quarter earnings call, where despite performing below expectations, executives were upbeat and looking toward the long-term future of its dating apps by harnessing this technology.

Match Group CEO Shar Dubey noted in the call that Hyperconnect, a social discovery platform the company purchased earlier this year, was testing the avatar-based dating experience dubbed “Single Town,” where users interact in real time as they meet in virtual spaces (like a bar) and have live audio conversations. If two users express interest in each other (via their avatars), they can choose to continue their conversations through messaging. Eventually, the company plans to leverage the technology across their dating apps.

This month, Tinder launches the second season of its wildly popular in-app interactive series Swipe Night. The premise is a murder mystery, and participants are expected to guess who did it each week as the clues are revealed. 

The first season brought in over 20 million viewers worldwide for a choose-your-own-adventure style story, where viewers selected what they would do along the way, which led them to different outcomes. This time, according to Tech Crunch, users will watch the same mystery unfold, but they will be able to search rooms and examine objects for clues to draw their own conclusions. 

The series is live on the app from 6pm EST to 12:00am beginning Sunday, November 7th, and Tinder will continue to air new episodes each Sunday at the same time through November 21st, according to the company’s website. 

Tinder is breaking new ground in the dating app industry by offering its own in-app currency for users to spend as they swipe. 

According to Bloomberg, Tinder will be testing in-app “coins” that users obtain by keeping their profiles updated and being active on the app, or alternatively, they can purchase them with real money. The coins can be spent on paid features Tinder offers like Super Likes (letting someone know you’re very interested) and Boosts (which promote your profile to other users).

Tinder is expanding its offerings beyond the swipe to create more stickiness with young daters, and the new currency is a way to monetize these features as people spend more time on its app. The company announced the launch of the Explore section in September, which features short form original content like its hit series Swipe Night and virtual speed dating with “Hot Takes.” 

ParshipMeet Group, parent company for popular dating apps like eHarmony, MeetMe and Skout, has started preparations for its initial public offering, notably on the heels of Bumble going public earlier this year.

According to Reuters, ParshipMeet Group’s IPO is scheduled for the first half of 2022, but there is some speculation that it may be pushed back in light of Bumble’s falling stock price in recent weeks. ParshipMeet is estimated to be worth upward of $4.1 billion, based on its core earnings, and the company reported revenues of 280 million euros for the first half of the year, up 19 percent.

ParshipMeet is 43 percent owned by General Atlantic and 53 percent by German broadcaster ProSiebenSat.1 Media. These co-owners have begun to invite banks to help organize the initial public offering, but the company has not confirmed who they have invited or begun working with.

Tinder CEO Renate Nyborg

Tinder announced that Renate Nyborg will be taking over as the company’s CEO as Jim Lanzone departs to serve as Yahoo’s new chief executive officer.

The news, announced Friday September 10th, means that Nyborg will be the first female executive to head the popular dating platform. She joined Tinder in 2020 as the general manager of Europe, the Middle East and Africa.

Nyborg’s background is in growing mobile and subscription business, according to the company’s press release. She previously worked for Headspace, where she built the company’s first international product and marketing divisions.

Match Group has unveiled a fresh look for both its website and logo. The redesign comes as the company focuses on its global strategy and adds more interactive and entertainment-based content, indicating a shift from traditional swiping.

According to Global Dating insights, the new logo moves away from employing its traditional block letters to a more fluid and simple design. The capital M and G flow together in one continuous line with two dots above the “M” to represent two people whose hands are linked. The cursive G connected to the M also represents Match’s focus on the global community and to making connections across countries and demographics. Their new colors are also a cool electric blue and teal to make it more “inviting,” according to Global Dating Insights.