Features

Dating app conglomerate Match Group has lowered their expected earnings for Q4, according to an earnings call with investors. The company said the adjusted forecast resulted from decreased revenue in Asian markets due to the pandemic. Shares declined 6 percent with the news.

According to Reuters, Match Group adjusted fourth quarter earnings revenue between $810 and $820 million, below analysts’ forecast of $838.5 million per Refinitiv. The company expects revenue for 2021 to be around $3 billion.

In the third quarter, revenue rose 25 percent, but still missed expectations. Match Group added 16.3 million paid users and revenue per person rose 8 percent. Their quarterly earnings came out to $.53 per share, missing the Zacks Consensus Estimate of $.60 per share, and has dropped from earnings of $.55 per share a year ago.

Match Group is taking the dating app experience to the next level by testing a new “metaverse” where users can create avatars that interact with each other over the app.

According to Tech Crunch, news of these plans came during the company’s third quarter earnings call, where despite performing below expectations, executives were upbeat and looking toward the long-term future of its dating apps by harnessing this technology.

Match Group CEO Shar Dubey noted in the call that Hyperconnect, a social discovery platform the company purchased earlier this year, was testing the avatar-based dating experience dubbed “Single Town,” where users interact in real time as they meet in virtual spaces (like a bar) and have live audio conversations. If two users express interest in each other (via their avatars), they can choose to continue their conversations through messaging. Eventually, the company plans to leverage the technology across their dating apps.

Hinge announced that it will be adding audio features to its dating app, including audio messages and audio clips for profiles. In addition, the company is creating more flexibility in searches for LGBTQ daters.

The audio messages feature will allow users to record and send audio clips to their matches, another way of getting to know someone outside of sending photos or text messages. Users will also be able to record audio to add to their profiles, so prospective matches can get a more complete picture of who they are.

At the same time, Hinge announced the addition of more features for LGBTQ users, including an update to its algorithm to add a non-binary gender category for users to search and find dates. Many dating apps offer profile features for non-binary users to identify themselves, but users haven’t had the ability to search for matches outside of self-identified “men” or “women.”

Image: tinder

Tinder has announced another new feature aimed at helping singles during wedding season: Plus One.

According to the company’s press release, users are now able to enlist in the Plus One option to let other Tinder users know they are looking for a date to a wedding (or that they are willing to be a plus one for someone else). Plus One is found in the new Explore section of the app, where most of Tinder’s newest features can be found.

The dating app company is also trying to incentivize people to use Plus One, offering the first 100 eligible Tinder users who join $460 to cover the cost of wedding expenses, which can add up quickly. The money can go towards travel, lodging, or even a gift for the happy couple. Tinder partnered with online wedding resource company WeddingWire, who suggested the prize money based on the average amount people spend to attend a wedding.

Green dating is becoming a trend among UK daters, according to a new study by dating app Bumble.

In recent months, Bumble added a feature for daters to include values in their profiles, not only to highlight their priorities to other daters, but also to support a cause, including for environmental, social or political justice. Each time a user sends a message to another user, the company will donate to select organizations that work for these causes. 

According to Bumble, 27 percent of UK users selected “environmentalism” as their highest value.

Dating app Bumble has awarded new grants to three female leaders as part of its Moves Making Impact program, which honors female leaders taking on some of the greatest challenges the world faces today. 

Bumble’s “cause” feature, which funds the program, was introduced to bring attention to women who are making a real impact in their communities and the larger world, and to inspire and empower women using the app. When setting up a profile, Bumble users are prompted to choose a cause that is important to them – like public policy, human rights, or economic development, and each time you send someone a message on the app, Bumble will make a donation to a woman doing that work in her community.

The company announced the newest recipients of the fund, which focuses on human rights, women’s health, and inclusivity in art and culture. In total, Bumble has donated to eighteen female leaders through Moves Making Impact, along with Vital Voices Global Partnership.