Legal

Match Group Stock Rises After First Quarter Earnings Report

Legal
  • Friday, May 21 2021 @ 09:19 am
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Online dating company Match Group’s stock rose after details of its first quarter earnings report were announced. Shares were up 5.3 percent to $146.30 according to recent trading reports.

Barron’s reported that Match Group posted revenue of $668 million for the quarter, up significantly from original Wall Street forecasts of $650.7 million. And profits were also up 57 cents a share, higher than the expected 40 cents per share. Match Group owns a range of popular dating apps, including Tinder, OkCupid, Plenty of Fish, and Hinge as well as niche apps like BLK and OurTime.

Tinder is still the star of Match Group’s offerings and its main revenue stream, with 18 percent growth in revenue for the dating app. However, Match Group noted that it has seen 30 percent growth in the rest of its business. Notably, some of its lesser-known apps like Hinge are seeing a surge of growth as the company invests more in its other offerings, too.

Australia’s NSW Police in Talks with Match Group About New Safety Proposals

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  • Wednesday, May 12 2021 @ 09:20 am
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NSW, Australia’s police force, was in talks with Match Group about new safety proposals to address sexual assault among daters that meet over the company’s apps, but Match Group has so far rejected implementing them.

The proposals from NSW could pose challenges regarding user privacy. The policing agency suggested using AI to scan conversations between users for potential red flags according to Australian Broadcasting Corporation (ABC). NSW also proposed a portal for police to access any reports of sexual assault sent to Match Group’s dating apps. 

"We recognize we have an important role to play in helping prevent sexual assault and harassment in communities around the world,” Match Group said in a statement. "We are committed to ongoing discussions and collaboration with global partners in law enforcement and with leading sexual assault organizations like RAINN to help make our platforms and communities safer.”

Match Group Testifies Against Google and Apple for Allowing Underage Users on Its Apps

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  • Monday, May 10 2021 @ 11:12 am
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Match Group testified in front of the U.S. Senate recently, arguing that tech giants Apple and Google are allowing underage users to access its dating apps.

Underage users have been able to download dating apps with age restrictions even while signed into their Apple or Google accounts, simply by clicking “yes” on a pop-up verification notice that asks if they are 18 or older. Neither Apple nor Google cross-checks the verification with their own data, and neither has set up a process to prevent these users from accessing the apps beyond the pop-up notice. 

Match Group’s chief legal officer Jared Sine testified on April 21st, according to Bloomberg News, saying that Apple and Google are allowing people under 18 years of age to download their dating apps despite the age restrictions. According to Sine, these companies are aware of the problem and ignoring it anyway; and they refuse to share personal user data with Match Group to address it.

Gay Dating App Manhunt Says User Data Was Hacked 

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  • Monday, May 03 2021 @ 07:00 am
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Manhunt Hacked

Gay dating app Manhunt says that it was hacked in February of this year, and the personal data of a portion of its users was exposed. 

A hacker caused the data breach according to a statement submitted by the company to the Washington State Attorney General. Manhunt maintains that the hacker “downloaded the usernames, email addresses and passwords for a subset of our users in early February 2021,” according to The Advocate

Manhunt has over 6 million users, and about 7,700 of its users who reside in Washington had their data stolen according to the statement. In total, the company’s attorney says about 11 percent of Manhunt users were affected by the breach.

Apple to Release New Privacy Restrictions 

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  • Monday, April 26 2021 @ 07:19 am
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Apples New Privacy for Apps

Apple announced in early April that it will soon be rolling out its new privacy notification for users who download any app from its store. The company didn’t give a specific launch date but said that it would happen “in the coming weeks” according to Reuters. 

Apple has created a one-time notice that requires an app developer to ask for the user’s consent before the app is able to track personal data and share it with third parties, according to Reuters. CEO Tim Cook described the notification in a podcast with tech journalist Kara Swisher, saying it will appear as a short checklist of how the app will use data, to make it easier and more transparent than sifting through the standard pages-long privacy policies that most people do not read. 

Digital advertisers and app developers are worried that the notification would cause many more users to decline permissions. 

Arizona Governor Signs Online Dating Bill Into Law

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  • Wednesday, April 14 2021 @ 09:46 am
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Arizona Passes Online Dating Law

Governor Doug Ducey of Arizona just signed into law a bill that requires online dating companies to inform their users when they have communicated with potential scammers, according to a report from Fox 10 News.

The bill HB2396 was sponsored by Republican lawmaker Regina Cobb of Kingman, Arizona, and requires dating services to inform its members if someone they had been in contact with was banned for a suspected scam, in an effort to reduce abusive and criminal activity on dating apps. These companies were previously prohibited from doing so.

The law requires the notice to be sent my mail or email, and according to Fox News 10 in Phoenix, it also provides immunity for dating app companies to prevent them from being sued.

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