Finances

Image: bumble

Hold the (smart) phone. After years as an app-only platform, Bumble has launched a web version of its popular dating service for use on laptops, desktops, and tablets.

Bumble announced the news with a blog post and video that offer a glimpse of the sleek, user-friendly Bumble Web experience. Current users can access their accounts on www.bumble.com by signing in via their usual method (Facebook or phone number). New users still need to create an account through the app before using the browser version, but Bumble promises that functionality is coming to Bumble Web soon. If you don't see the "Sign In" button yet on the Bumble website toolbar, check back soon as Bumble Web may not yet be available in your area.

Once signed in, the simple interface displays existing chats and matches in a column to the left of the screen. Potential new matches appear to the right. Users can scroll through a profile using the up and down arrow keys or by clicking the up and down arrows at the top and bottom of the profile. To like or pass on a profile, use the left and right arrow keys or click the two prominent icons at the bottom of the screen.

The online dating market is hot right now and projected to grow to $12 billion by 2020. This is in part thanks to bullish analysts targeting a price point of $66 for Match Group stock, based mostly on the incredible revenue growth of Tinder.

This projection by Nomura Instinet came on the heels of a downward market in early October. Match Group stock was projected to be 28% higher than what it was worth on Thursday October 11^th before the announcement. The $66 valuation gave Match Group a bump on Friday.

Facebook’s entry into the online dating market could have an effect on these projections, though Nomura Instinet analysts say the valuation is based on Match Group’s effective strategy of buying competitors before they scale. Most particularly, Match Group was very successful in its purchase of dating app darling Tinder, which has seen unexpected revenue growth since launching its paid premium service Tinder Gold.

It’s said that you should practice what you preach. For dating app Hinge, that means supporting employees with an exceptionally on-brand workplace perk: a $200 monthly stipend to go on dates.

Companies are working harder and harder to attract and retain talented candidates. Sufficient compensation is a must, but employees are increasingly looking for positions that offer benefits beyond salary. Perks like free food and beverages in the office, flexible work hours, and gym reimbursements are practically standard for businesses in competitive industries, and startups are getting increasingly creative in their approach to employee benefits.

Hinge’s dating stipend is a unique addition to the company’s more familiar perks, which include weekly catered breakfasts and lunches, unlimited annual leave, and exercise benefits. Employees can use their monthly allowance anywhere in the United States to spark a new romance or nurture long-term love. After cashing in, they are encouraged to leave reviews of their experiences on the app to help Hinge members succeed in their own dating endeavors.

Spark Networks SE, a leading provider of niche dating sites including EliteSingles, Jdate, and Christian Mingle, has revealed its first half 2018 financial results.

In a press release, Chief Executive Officer Jeronimo Folgueira called it “a very productive first half of the year” focused on building a strong foundation for sustainable, long-term revenue growth.

“Our growth strategy remains focused on EliteSingles, our newly added Jdate, JSwipe and Christian Mingle brands, and the recently launched SilverSingles brand,” Folgueira said. “All three of these areas performed well in the first half of the year and we expect to carry our current momentum through the second half of 2018 and into 2019.”

Grindr, the leading dating app for gay and bisexual men, is preparing to list its shares on international stock exchanges. The app’s Chinese parent company, Kunlun Group, said in a stock exchange filing to the China Securities Regulatory Commission that the listing will take place overseas at an unspecified time. The timing and locations of the share sale will be determined by regulatory approval as well as capital market conditions.

In the Shenzhen stock exchange filing, Kunlun Group said that financing arrangements would be made to support Grindr’s expansion following the completion of the IPO. The company’s board said that going public would “strengthen” Grindr’s competitiveness and support future development plans for the business.

“Grindr’s listing won’t exert a huge influence on the group’s revenues and profits,” Kunlun said in the filing, according to The Independent. “Meanwhile, Grindr can have an individual and direct financing platform which can support its expansion and long-term development.”

Sean Rad, Tinder co-Founder and former CEO, claims in a lawsuit that he was forced to sell his shares of Tinder stock by parent company IAC (now Match Group) under pressure of being fired. Because of this, he and other Tinder employees potentially lost millions of dollars through an alleged stock devaluation.

According to an article in The Verge, Rad says he was forced into exercising his options early, about a month before he was fired in September 2017. He says he felt pressured to sell because those options would expire after he left the company, and he suspected Match Group of planning his ouster. As it turns out, Match Group did fire him a month later, even though it wasn’t publicized at the time.