Bumble

Popular dating apps like Tinder, Bumble and Grindr are building and testing out virtual wingmen and other AI-driven tools on their platforms to help generate icebreakers and offer instant feedback, according to a new feature in The Financial Times.

Grindr chief product officer AJ Balance told the Financial Times that the gay dating app’s chatbot assistant called Grindr Wingman would help users with their dating “pain points,” like helping them initiate flirty conversation via curated prompts based on user profiles and chat histories.

“It’s that friend in the bar who’s helping you to ask someone out — but in the virtual context,” Balance told FT, saying that using AI in this way could help take the hard work out of online dating.

Image: Bumble

Bumble has announced it is partnering with the New York Liberty women’s basketball team for the remainder of the season, building on its multi-year deal with the WNBA.

The partnership is intended to “create local opportunities for Bumble users and Liberty fans to connect over a shared love of women’s basketball,” according to Liberty’s website.  New York Liberty became the first team to get a spot in the WNBA Playoffs, and Bumble is serving as sponsor of home games during the first month of games. The dating app company will be hosting a singles event in the arena for fans and Bumble users.

Bumble is also featuring Liberty players in a new social media campaign, where Bumble users can get dating advice from Liberty players (as well as the team’s mascot).

Dating app Bumble’s share value dropped 30 percent after the company slashed its annual growth revenue forecast in its second quarter earnings report.

According to Reuters, Bumble also fell below estimates for its second quarter revenue. The dating app company reported revenue of 268.6 million, below analyst expectations of $273 million.

This report worried investors who compared Bumble’s second quarter to rival Match Group’s, which reported relatively better revenue numbers driven by robust growth at Hinge and more stability at Tinder.

Dating app giant Match Group announced its plan to cut six percent of its workforce after numbers for the company’s second quarter fell short of expectations, according to BBC.

Match Group owns the popular dating app Tinder (which has seen a significant decline in downloads), along with Hinge, Plenty of Fish and OkCupid, among others. The company’s second quarter earnings report showed an 8 percent decline among the number of paying Tinder users according to multiple reports. Hinge still remains a bright spot with significant growth.

According to BBC, Match Group said job cuts would largely come from shutting down its live-streaming app Hakuna and removing live-streaming features from some of its dating apps. (Despite the popularity of livestreaming dating apps in China, it hasn’t really taken off in the rest of the world.)

Singles are gravitating towards more targeted dating apps and moving away from the one-size-fits-all platforms like Tinder and Bumble.

According to an article in The Financial Times, specialty apps like Grindr (which serves gay and bisexual men) and Feeld (which serves those looking for non-traditional relationships), are seeing downloads and new users increase. Investors are noticing and are looking to these apps rather than the one-size-fits-all dating apps dominating the market.

Tinder and Bumble have seen a decline in downloads and paying users, which has rattled investors. According to the FT, Match Group which owns Tinder has shed about a fifth of its market value since the beginning of 2023, compared to Grindr whose shares have more than doubled in the same time period.

Tinder, Bumble and Hinge have seen surges in downloads and user activity around the Athlete’s Village in Paris as the 2024 Summer Olympics get underway.

According to The Daily Mail, these dating apps have reported thousands of new downloads. Athletes have gravitated to dating apps in the past to hook up during the Olympics, with the exception of an intimacy ban in 2020 due to Covid concerns.

Paris officials have  a different agenda from athletes, providing single beds made of cardboard so that they would be discouraged from having so much sex during the competitions. This has created a lot of buzz on TikTok, with athletes testing out the sturdiness of the beds by jumping on them. (They don’t break or fall apart.)