Match Group

Dating app Tinder and non-profit The Human Rights Campaign just announced a platform partnership to urge US Senators to pass the Respect for Marriage Act, which would repeal the Defense of Marriage Act and require the US government to recognize same-sex marriages.

Tinder users will be directed to a landing page with an email template, according to The Hill, where they can send a message to their respective Senators and urge them to support the bill. Part of the campaign includes highlighting LGBTQ+ couples who met over the app.

According to tilte:The Hill, the bill itself would repeal and replace provisions "that define, for purposes of federal law, marriage as between a man and a woman and spouse as a person of the opposite sex with provisions that recognize any marriage that is valid under state law."

Match Group, which owns Tinder, Hinge and other popular dating apps, has brought a lawsuit against Apple in India, accusing the tech giant of “monopolistic conduct.”

According to an exclusive report from Reuters, the lawsuit follows other filings the company has made against Apple’s App Store practices, since the company takes commission on every in-app sale and doesn’t allow third party payment systems. Match Group filed a complaint in the Netherlands with the country’s regulatory agency which fined Apple almost 50 million euro, until they came to an agreement to revise App Store practices.

Another lawsuit was filed against Apple in India for its App Store practices, arguing that the company “restricts innovation and development” by “enforcing the use of its proprietary in-app purchase system and ‘excessive’ 30 percent commission,” according to Reuter’s review of the filing. That prompted an investigation from the CCI (Competition Commission of India) back in December of 2021.

Dating app BLK, which serves the community of Black daters, announced the launch of “Break the Bank,” a new finance-related campaign initiative.

The campaign promotes “financial literacy” and provides tips to users on how to weather inflation, according to The Drum. It was developed with help from networking collective The Gathering Spot and will be rolled out nationwide in time for Black Business Month. According to BLK, the idea came from the fact that black-owned businesses are particularly vulnerable right now, and are shutting down at twice the average national rate.

The Gathering Spot will send in-app notifications of financial advice to users, with topics like “How Increased Rates will Affect Your Money Flow” and “Tips to Grow Your Small Business to the Next Level.” The app will also be encouraging users to shop at Black-owned businesses with its #BlackSummerSpend campaign on social media channels.

Hinge announced a new feature called Not-so-Frequently Asked Questions to help its users discuss sensitive topics when they aren’t quite sure how to approach the subject.

The new feature is designed with LGBTQ+ daters in mind according to Gizmodo, and aims to help answer the questions many people have but that they are afraid to ask, like questions around substance abuse, gender identity, or even how to set up a date with your ex’s ex.

Some personal subjects have traditionally been off limits when you are first meeting someone or striking up a conversation over a dating app, but Hinge wants to change this. Important topics require discussion up front before delving into a new relationship – like questions about faith, substance abuse, sexual identity, and sexual exploration. Plus, discussing personal topics honestly helps people better connect, which is one of Hinge’s main promises.

Match Group is making changes to its executive team and pausing its metaverse plans on the heels of a disappointing second quarter earnings report. Its stock fell 20 percent after the earnings call with investors.

According to reports, Tinder CEO Renate Nyborg is exiting after less than a year at the helm of the app. Bernard Kim, the new Match Group CEO following Shar Dubey’s exit two months ago, wrote this as explanation in his letter to shareholders: “Tinder’s current revenue growth expectations for the second half of the year are below our original expectations as a result of disappointing execution. We need to do more to excite our user base.”

Kim also announced a new COO, chief product officer, chief marketing officer, and chief technology officer according to Gizmodo, promoted from other parts of the company.

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.