Tinder

After a tumultuous year that involved an FTC lawsuit, a split from parent company IAC and the departure of CEO Mandy Ginsberg, Match Group has published its fourth quarter and full year financial results for 2019. Total revenue for the company exceeded $2 billion for the first time.

For the third quarter 2019, Match Group shared the following highlights:

• Total Revenue grew 20 percent over the prior year quarter to $547 million
• Average Subscribers increased 19 percent to 9.8 million, up from 8.2 million in the prior year quarter, and ARPU increased 1 cent to $0.59
• Operating income was $180 million, an increase of 19 percent over the prior year quarter
• Adjusted EBITDA increased 22 percent over the prior year quarter to $215 million

Match Group reported annual earnings for 2019, and its star dating app Tinder came out on top with almost $1.2 billion in revenue for the year.

Tinder had on average 5.9 million subscribers in the fourth quarter of 2019, 36 percent more than the previous year according to The Verge. At the same time, Reuters reported in early February that Match Group missed its fourth quarter revenue estimates as subscriber growth on Tinder fell to its lowest since the fourth quarter of 2018, perhaps an early sign of market saturation. 

Match Group announced the roll out of new filter features for its star dating app Tinder, following suit with Bumble, who rolled out similar features late last year.

The filter features include both free and paid options, according to Tech Crunch, but Match Group did not disclose many details, other than comparing the features to Tinder U, which filters matches solely to other nearby college students. 

Match Group aims “to make the utility of Tinder better and more efficient,” according to CEO Mandy Ginsberg, who just announced she’ll be leaving the company after fourteen years at the end of February. 

A committee from the U.S. House of Representatives is investigating popular dating apps such as Tinder, Bumble and OkCupid following a report that found underage users and sex offenders were using the apps.

According to a report from AP, the House Oversight and Reform subcommittee on economic and consumer policy sent separate letters on Thursday January 30th to Bumble, Grindr, The Meet Group, and Match Group (which owns Tinder and OkCupid among others). The letters asked for information on “users’ ages, procedures for verifying ages, and any complaints about assaults, rape or the use of the services by minors,” according to AP.

The subcommittee is also seeking additional information on privacy policies for each of the apps, and what users see when they are asked to review or accept such policies. Recently, dating apps have also come under fire for third-party sharing of personal data, where user information wouldn’t be protected by the dating app’s own privacy policy.

A New York City task force on cyber sexual assault has discovered more than 70,000 photos of Tinder users on an online cyber-crime forum. Aaron DeVera, a member of the task force, told reporters that the images were found on a site known for trading in malicious software and that only female users appear to have been targeted.

Gizomodo was the first outlet to share the news. According to the original report, the photos were accompanied by a text file containing around 16,000 unique Tinder user IDs. Items found in the photos, like the iPhone X, and metadata indicate that many of the pictures are relatively current — some, in fact, have timestamps dated as recent as October 2019. The availability of this information to cybercriminals raises serious concerns about why it was collected and what it could be used for.

Boomers are looking for love and increasingly turning to dating apps to do it. But Tinder isn’t necessarily what they are looking for.

BBC reported that the demographics with the biggest growth for dating app usage are 18-24-year-olds and those over 50. Between 2013 and 2015 when Tinder began to take off, online dating tripled for the younger demographic and doubled for those aged 55-64, according to Pew Research Center.

However, older daters were finding obstacles in using popular apps like Tinder that continue to cater to young users. For example, when Tinder launched its premium paid service, the company charged significantly more for older users, which caused an outcry. Some dating apps don’t let people over 50 sign up at all, so boomers were either having to lie about their ages or look for another platform.