Finances

This week, Match Group announced it has acquired dating app Hinge. According to the press release, the deal gives Match Group a 51 percent stake in the company. Match first started buying shares in Sept of 2017 and has the option to buy remaining shares of Hinge within the next year.

Hinge has spent the last few years revamping its image and features, creating an app that countered Tinder’s hook-up reputation, and aimed to create a space for more serious daters. This included dumping its initial Tinder-like swiping feature and allowing clients to build profiles more like traditional online dating sites. Interestingly, Match Group (which owns Tinder) initially invested in Hinge in the fall of 2017, soon after it debuted its new design.

Hinge is most popular among “urban, educated millennial women looking for relationships,” according to Match Group CEO Mandy Ginsberg. It has also grown its user base to “five times what it was a year ago,” according to an article in The Wall Street Journal, making it an attractive purchase for Match Group.

It’s been a tumultuous month for Match Group. The company’s share price dropped over 25% in the wake of Facebook's announcement that it was entering the online dating space, prompting CEO Mandy Ginsberg to assure users and investors that Match Group had little to fear from its new competitor.

“People don’t want to mix Facebook and their dating lives,” she said in an interview with Bloomberg.

She may be right. Looking at Match Group’s Q1 2018 Earning Results, also released this month, the company appears to be in a strong position despite the recent hit.

Spark Networks SE, the platform behind dating brands including EliteSingles, Jdate, Christian Mingle, and Silversingles, has released its second half and full year 2017 financial results.

The report comes nearly six months after Affinitas and Spark Networks Inc. merged to form Spark Networks SE. The companies’ combined portfolios position Spark Networks SE as a leader in the serious segment of the dating market with a global network of nearly half a million monthly paying subscribers across 29 countries.

"With the close of the merger between Affinitas GmbH ("Affinitas") and Spark Networks, Inc. ("Spark") in November 2017, we have created a pure-play leader in the dating industry with increased scale and a portfolio of well-known brands," said Jeronimo Folgueira, Chief Executive Officer of Spark Networks SE, in a statement. "We have only just begun to realize the benefits of the merger, as the results we reported today include just two months of Spark's performance.”

Tinder’s premium service has been controversial since its debut in 2015. The company started off on the wrong foot by setting higher prices for users who were older than 30, and a sliding scale to younger users. Now, a California appeals court has found the company’s pricing model to be discriminatory to older users.

Judges with the California 2nd District Court of Appeals reversed the decision made by a previous judge, and has ordered Tinder to stop charging older customers more for its premium service, according to reports.

Tinder was charging users 30 and older $19.99 to use the premium service as opposed to those in their twenties, who were only charged $14.99 or $9.99. For the extra funds, users got to “superlike” their favorite matches, swipe as much as they wanted, change their decision on a match even after they swiped left, and avoid those pesky ads that pop up in the free version.

Image: ABC

Sick and tired of the relentless positivity of people trying to put their best foot forward on dating apps? Brendan Alper has the solution - now with Mark Cuban’s blessing, Shark Tank stardom, and a six-digit investment.

Alper is the brains behind Hater, an unusual take on digital dating that matches users based on things they can’t stand. Instead of mutual likes, Hater searches for mutual dislikes, prompting singles to bond over their most despised people, places, things, and concepts.

Following a successful public debut around Valentine’s Day in 2017, Alper appeared this month on ABC’s hit show Shark Tank to take Hater to the next level.

Whitney Wolfe Herd, founder and CEO of female-friendly dating app Bumble, was just named to Forbes’ “30 Under 30” list, and is featured on its December 2017 cover. This is no small feat – her dating app has amassed a large following with 70% year-on-year growth, according to the article, and has 22 million registered users. In comparison Tinder has 46 million registered users and last year saw growth at 10%.

The company is also being eyed by Match Group, owner of dating app rival Tinder, and is said to be in talks for over a billion dollars as an asking price. Herd turned down the company’s original offer of $450 million, according to recent reports.