Tinder

Revenue growth for dating conglomerate Match Group has fallen in a disappointing second quarter for the company. The market responded and the company’s stock fell more than twenty percent, bringing its stock price down 42 percent of its value since the beginning of the year.

Match Group held its earnings call with investors, reporting revenue of $795 million compared to $804 million that analysts expected. In addition to this, Match Group lowered revenue forecasts for Q3 from $800 to $790 million according to CNBC News, which includes the impact from foreign exchange rates falling compared to the dollar. To complicate things for Match Group, it also means that there would be no growth at all between the quarters.

There were some hopeful signs despite the news. The company pointed out that overall revenue grew twelve percent compared to this time last year. In addition, the number of paid users increased 10 percent to 16.4 million according to the shareholder report, and revenue per paid user rose three percent to $15.86.

A Russian court recently fined Match Group 2 million roubles ($33,280 USD) for its failure to store user data in Russian territory. Match Group owns the popular dating app Tinder, among others.

According to Reuters, Russia is taking action against American companies for refusing to store user data within the country, including against Meta’s WhatsApp, Expedia Group, and Snap Inc. Last month, the court fined Google’s parent company Alphabet for 15 million roubles because it was storing user information outside of Russia.

The move seems to be part of a larger strategy to penalize U.S. tech companies for controlling the data of its citizens in the wake of Russia’s war with Ukraine.

Tinder Desk Mode

Image: Tinder

As more people head back into the office after two years of working from home, Tinder has relaunched its popular Desk Mode feature.

Desk Mode is a convenient cover-up if you are browsing profiles on your work computer. When you click on the feature button, a small briefcase icon located in the top left corner of the screen, a decoy “Meeting Notes” screen will pop up on your monitor if your boss happens to walk in and catch you.

If you actually read the screen, Tinder had a little fun with the details. It includes an agenda to “buy drinks” and “order nachos with the works” and ends in a “late night ice cream run.” There’s also a graph showing “swipe stats for selfies” which includes “shirtless selfie” and “pics of my yacht.” Meeting recap notes are listed at the bottom, including “didn’t know the difference between a pale ale and a pilsner.”

Google has brought a lawsuit against Match Group, announcing its intention to remove dating apps like Tinder, OkCupid and Hinge from its Play Store.

The move is part of a countersuit, according to Bloomberg. The dating app conglomerate joined other app developers in bringing a lawsuit against Google’s parent company Alphabet, citing unfair practices in Google’s Play Store, specifically the requirement that developers pay commission for every in-app purchase made by its users. Google settled with the developers to pay them $90 million to compensate for lost revenue over the years.

Match Group has filed lawsuits and complaints against Apple for similar reasons.

Match Group is bringing the free background checks feature on Tinder to two more of its dating apps: Match (its signature app) and Stir, an app geared toward single parents.

The feature allows users two free background checks on matches, and after that there’s a cost. Right now, premium users on Tinder get four free background checks, and the same will apply for users of Stir and Match, according to The Verge.

The background checks feature was implemented in partnership with security service Garbo which actually runs the background checks. According to The Verge, when a user is chatting with someone and suggests meeting, a box pops up to ask if they want to do a background check. If they tap on the link, they see some safety tips before being transferred to the Garbo platform where the report is accessed.

Since Tinder was banned in Pakistan, young singles are flocking to private Facebook groups to meet others to date, even though Facebook Dating is not available in the country.

One of the most popular Facebook groups is Two Rings, a volunteer-run matchmaking group that does not charge its users any fees. It currently has about 228,000 members, and at least 335 couples have found spouses through the group, according to news source Rest of World.

"Instead of waiting on their parents or family to find somebody, they are actually now doing it all on their own," a cofounder of a Facebook dating group for graduates of some of Pakistan’s premier business schools told Business Insider.