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Match Group Falls Short of Q2 Revenue Expectations

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  • Wednesday, August 10 2022 @ 07:46 am
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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.

Tinder Relaunches Desk Mode Feature

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  • Friday, August 05 2022 @ 07:56 am
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Tinder Desk Mode
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 Sues Match Group, Aiming to Remove Tinder and Other Dating Apps from its Play Store

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  • Friday, July 22 2022 @ 07:36 am
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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 Acquires Exclusive Dating App The League

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  • Wednesday, July 20 2022 @ 09:30 am
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The League Home Page

Match Group has acquired The League, a dating app known for its exclusivity because you have to apply to join.

The news about the members-only dating app was disclosed by a Tinder spokesperson to Tech Crunch. The League has become popular among ambitious, career-focused people looking for a more exclusive dating app experience, and as a result the app grew a long waiting list with people vying for a place. The terms of the deal were not disclosed.

Match Group’s new CEO Bernard Kim sent an email to employees, sharing the news: “We have just closed our acquisition of The League, a premium, niche dating app with a curated member base focused on matching career-oriented users looking for a serious relationship,” Kim wrote.

Google Settles with App Developers for $90 Million

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  • Wednesday, July 06 2022 @ 09:19 am
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Google has reached an agreement with app developers who sued over unfair Play Store practices, including charging a 30 percent commission on all in-app purchases. Part of the settlement requires Google to pay developers $90 million in lost revenue over the years, including Match Group.

According to Tech Crunch, in addition to the $90 million payout, Google will be revising its Developer Distribution Agreement to allow developers to contact users outside of the app, and to be more transparent with annual reports detailing app removals and account terminations, for example. In addition, Google will add a new “Indie Apps Corner” to its Play Store to highlight apps made by smaller startups and independent developers, who often get overlooked for the big players.

The settlement doesn’t resolve a larger problem of allowing developers to use third party payment systems and cutting Google Play and Apple Stores out of these commissions, which currently is not allowed in either store. Match Group and others have sued both Apple and Google for the right to have their own in-app payment system without forcing users to go through the stores, and for having to pay a percentage of every purchase to the tech giants.

Hinge Introduces New Feature “Dating Intentions”

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  • Tuesday, June 28 2022 @ 09:02 am
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Hinge New Feature

Hinge announced that it has launched a new feature called “Dating Intentions” to encourage users to be more honest and upfront about what kind of relationship they are looking for.

According to Tech Crunch, the feature allows users to select a dating goal from a drop-down menu, which will be displayed in their profile. Some options include “life partner,” “long-term,” “open to short-term,” “short term, open to long-term,” “short term,” and “figuring out my dating goals.”

Online daters have grown increasingly frustrated with forming relationships that go nowhere, or that are layered in ambiguity. Some find it difficult to ask their dates what they are looking for in a relationship in the early stages, which leads to a lot of misunderstanding and heartache down the line, after they’ve invested emotionally in the relationship. Hinge hopes the new feature will help alleviate that, or at least help spark a conversation before the first date so both parties know what to expect.

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