Match Group

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: Chispa

Chispa, the dating app for Latine singles, has announced the launch of its new Advocacy Council, created to highlight important issues affecting its diverse community.

The company announced the move in a press release, saying that the Council will also be developing “actionable programs to make a positive impact in the community beyond dating.” Chispa is seeking to build a trusted community and to be a “passionate advocate for the wellness and advancement of all Latines,” according to the release.

The Advocacy Council will meet regularly to discuss important issues facing the community, and to help create initiatives around mental health, finances, education, immigration, equality, politics, and other topics.

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.

Match Group announced that it partnered with research firm Ipsos to conduct a comprehensive study of daters in major markets, and found that overall daters feel positive about online dating.

Sixty-six percent of respondents said that online dating results were “as good or better” than meeting offline according to the study's press release, and 60 percent of respondents said that their online dating efforts have resulted in dates or developed into a relationship.

The report also found that people tend to prefer larger platforms with more people, with the idea that they have more choices when it comes to finding the right person. In fact, online dating is gaining more popularity around the world, with almost half (49 percent) of singles saying they have tried dating apps and websites. India and Turkey lead the way in usage, thanks to changing attitudes about dating, as well as parents using technology to find partners for their children, according to Ipsos.

Match Group, parent company of popular dating app Tinder, is in talks to purchase a strategic stake in Shaadi, an India-based online matchmaking service.

The Economic Times first reported that the two companies were in talks, and that Match Group was looking to buy out Shaadi’s institutional stakeholders, but few details have emerged.

According to Ink 42, this latest development comes after Match Group has refocused its efforts and brought on a new executive team to run Tinder, which last year saw its first quarter of revenue decline since the company went public. Match Group has set its sights on the fast-growing Asian market, especially India and its large under-30 market.