Tinder

India is now among the fastest-growing dating app markets worldwide, thanks to a growing young population of singles and their changing attitudes towards dating.

In terms of year-over-year growth, India emerged as the fifth largest market in dating app spending in 2022, according to a new study by data.ai Intelligence. Researchers found that Indian users spent $31 million more in 2022 than they did in 2021 despite economic factors like inflation that affect consumer spending.

Match Group, Bumble, and other major dating app companies have made a big investment in India, hoping to capitalize on this attractive market which now brings in millions of dollars in revenue each year to dating app companies.

A group of class action lawsuits have been filed in the U. S. District Court on behalf of investors who purchased shares of Match Group stock between November 3, 2021 and January 31, 2023. The lawsuits allege that the company misled investors as to financial expectations and new product executions that Match Group was claiming to initiate.

According to law firm Bernstein Liebhard LLP, a lawsuit was filed in the U.S. District Court for the district of Delaware and alleges “violations of the Securities Exchange Act of 1934.”

According to the press release from Kaskela Law, LLC, throughout the dates named in the lawsuit, Match Group and its executive officers “falsely represented to investors” that Tinder was moving forward with critical product initiatives to drive growth for the company in 2022 and going forward. In addition to this, other lawsuits have been filed on behalf of investors with Kessler Topaz Meltzer & Check, and Bernstein Liebhard LLP, among others.

Image: Tinder

Tinder launched a new in-app dictionary which defines certain slang words used by many Gen Z singles, so that older daters can understand their language.

The Tinder Dating Dictionary, crafted by 18 to 25-year-olds at Tinder, was just unveiled in Australia. It provides a detailed list of common dating terminology, including popular terms like “rizz,” “cushioning,” and “kitten fishing.” The company responded to research that showed 62 percent of their target Gen Z market felt like they “spoke a different language” than older singles when it comes to dating.

The recent survey also found that 70 percent of 18-25 year-olds regularly use dating slang compared to 55 percent of 26 to 40 year-olds. Understanding the language, Tinder assumes, will help bridge this gap.

Image: Tinder

Tinder has unveiled its first global ad campaign called “It Starts with a Swipe,” featuring vibrant and colorful artwork with an 80s pop aesthetic. The campaign celebrates different types of relationships, a pivot away from its “hook up” reputation to show a wider range of possibilities for singles.

According to Tinder’s blog post, the campaign was photographed by French photo-digital artist Pol Kurucz, and is “evocative of modern day fairy tales, featuring different possibilities, in a vibrant, electrified dating journey.”

The campaign was created in partnership with ad agency Mischief, and is directly targeted to younger Gen Z daters, who are looking for a range of relationship possibilities. The company recently surveyed singles on the app and found that globally, 40 percent of Gen Z members are looking for a long-term relationship, and only 14% are looking for a short-term connection.

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.