Milestones

Image: bumble

Hold the (smart) phone. After years as an app-only platform, Bumble has launched a web version of its popular dating service for use on laptops, desktops, and tablets.

Bumble announced the news with a blog post and video that offer a glimpse of the sleek, user-friendly Bumble Web experience. Current users can access their accounts on www.bumble.com by signing in via their usual method (Facebook or phone number). New users still need to create an account through the app before using the browser version, but Bumble promises that functionality is coming to Bumble Web soon. If you don't see the "Sign In" button yet on the Bumble website toolbar, check back soon as Bumble Web may not yet be available in your area.

Once signed in, the simple interface displays existing chats and matches in a column to the left of the screen. Potential new matches appear to the right. Users can scroll through a profile using the up and down arrow keys or by clicking the up and down arrows at the top and bottom of the profile. To like or pass on a profile, use the left and right arrow keys or click the two prominent icons at the bottom of the screen.

The online dating market is hot right now and projected to grow to $12 billion by 2020. This is in part thanks to bullish analysts targeting a price point of $66 for Match Group stock, based mostly on the incredible revenue growth of Tinder.

This projection by Nomura Instinet came on the heels of a downward market in early October. Match Group stock was projected to be 28% higher than what it was worth on Thursday October 11^th before the announcement. The $66 valuation gave Match Group a bump on Friday.

Facebook’s entry into the online dating market could have an effect on these projections, though Nomura Instinet analysts say the valuation is based on Match Group’s effective strategy of buying competitors before they scale. Most particularly, Match Group was very successful in its purchase of dating app darling Tinder, which has seen unexpected revenue growth since launching its paid premium service Tinder Gold.

Facebook has officially entered the dating app game, launching its new feature Facebook Dating exclusively for users in Colombia. Since the announcement of the new service in May at the company’s annual developers conference, the online dating industry has been anxious for how Facebook might upend the market.

Facebook chose Colombia because online dating is a “pervasive behavior” there according to Nathan Sharp, product manager for Facebook Dating. The country has a population of 48.6 million, giving Facebook the opportunity to see how people use it and how it compares to other dating apps. There are about 200 million single Facebook users globally, according to Sharp, a huge population to reach.

The service is currently available only through the social media giant’s mobile app, and users have to opt in to the service to use it. Also, Facebook Dating is separate from the regular Facebook service, so a user’s dating activity will not be visible to friends on social media. Facebook intends to compete directly with dating apps, but the company’s focus is on connecting people to form relationships, moving away from superficial swiping that’s popular on apps like Tinder.

Match Group, the parent company of popular dating apps such as Tinder, OkCupid, and PlentyofFish, reported second quarter earnings of $421 million, exceeding industry analyst expectations.

The rise in profits was thanks to its star app Tinder, which gained an additional 300,000 subscribers in Q2 alone, and has seen a record 3.8 million subscribers to date. Match Group expects to earn $1.72 billion this year, with Tinder expected to exceed $800 million in revenue, according to Fortune Magazine. Match Group’s subscribers for all apps total about 7.7 million.

“Retention and conversion were a bit stronger than we thought they would be,” Chief Executive Mandy Ginsberg told website MarketWatch.

This week, Match Group announced it has acquired dating app Hinge. According to the press release, the deal gives Match Group a 51 percent stake in the company. Match first started buying shares in Sept of 2017 and has the option to buy remaining shares of Hinge within the next year.

Hinge has spent the last few years revamping its image and features, creating an app that countered Tinder’s hook-up reputation, and aimed to create a space for more serious daters. This included dumping its initial Tinder-like swiping feature and allowing clients to build profiles more like traditional online dating sites. Interestingly, Match Group (which owns Tinder) initially invested in Hinge in the fall of 2017, soon after it debuted its new design.

Hinge is most popular among “urban, educated millennial women looking for relationships,” according to Match Group CEO Mandy Ginsberg. It has also grown its user base to “five times what it was a year ago,” according to an article in The Wall Street Journal, making it an attractive purchase for Match Group.

DateHookup.com on April 28, 2018

Well after waiting a bit and some more digging (and thanks to the Way Back Machine) it is official that DateHookup.com closed for good on May 9^th, 2018.

We initially reported at the beginning of May DateHookup was experiencing technical difficulties and by May 10^th the service was no longer accessible. We did find out that in the last 2 weeks of April, Datehookup.com did display a message (as seen in the photo) in bright red on their homepage stating:

Datehookup will discontinue services on May 9, 2018. Please contact support@datehookup.com for any questions.