Tinder

Tinder CEO Elie Seidman

Tinder CEO Elie Seidman has promised to redouble the company’s efforts to make its dating service a safe and welcoming platform for everyone. In a blog post, Seidman acknowledged that transgender users have faced harrassment and discrimination on the app, and that there is important work to be done before Tinder is “a place where people everywhere can be who they are and love who they love.”

Tinder has taken notable steps towards this goal in recent years. The company partnered with GLAAD in June 2019 to introduce the Orientation feature, which allows users to choose up to three labels that describe their sexual orientation to improve matching based on identity and sexual preferences. Tinder previously partnered with GLAAD in 2016 to launch the More Genders feature, which expanded the options users have to describe their gender identity. But trans users say these updates do not go far enough.

Facebook CEO Mark Zuckerberg

Facebook CEO Mark Zuckerberg called Tinder co-founder Sean Rad “irrelevant” back in 2014, but still gave him special access to user data, according to leaked emails reported by Forbes.

Zuckerberg had considered entering the online dating industry as far back as 2014, but ultimately put the decision on hold and granted the founder of Tinder, now one of the most popular dating apps in the world, special access to user data. Facebook colleagues suggested he meet with Rad, but Zuckerberg rejected the suggestion, saying in the emails, “I don’t think he’s that relevant. He probably just wants to make sure we won’t turn off their API.”

Goodbye dating, hello good deeds. Tinder co-founder and former CEO Sean Rad announced his newest venture at the 2019 Forbes 30 Under 30 Summit: Good Today, a nonprofit service that makes it easy to support charitable organizations through small daily donations. Rad has joined the company as a founding board member alongside several other notable figures from the business, tech and entrepreneurship worlds.

Good Today users sign up and select a recurring giving plan — 25¢, 50¢ or $1 a day, paid in monthly or yearly installments. Each morning, they receive an email highlighting the cause of the day and two relevant charities to choose from. They can elect to pick the charity that will receive that day’s donation or opt to have their donation roll over to the next day. Good Today is a 501(c)3 organization, as are all the charities it features, and subscriptions are tax deductible.

Shares of Match Group fell 15 percent after the company announced it will miss revenue goals for the fourth quarter. Shares of IAC also fell by 11 percent, according to Reuters.

The company expects fourth quarter revenue to be between $545 and $555 million, short of the $559.3 million goal according to IBES data from Refinitiv.

This news comes on the heels of a complaint filed by the U.S. Federal Trading Commission that Match Group offered fake profiles to entice customers to purchase paid subscriptions to its services, among other “deceptive and unfair practices,” as said in the lawsuit. Match Group is also facing legal entanglements with former Tinder employees, including founder Sean Rad, who said the company cheated him out of rightful payment after undervaluing his stock options.

A New York state appeals court unanimously rejected IAC/InterActiveCorp’s motion to dismiss the lawsuit filed by Tinder founders and early employees who say IAC undervalued Tinder to avoid paying them billions of dollars. This decision affirms a June 13 ruling in which New York State Supreme Court Justice Saliann Scarpulla also rejected a motion to dismiss the litigation.

The lawsuit alleges that IAC and Match Group cheated the plaintiffs out of money they were owed by improperly undervaluing Tinder, which today is worth more than $20 billion, and converting their company stock options. The appeals court denied IAC’s motion to dismiss on statute-of-limitations and other grounds, and said that the plaintiffs “were not bound under their stock options agreements to what they considered artificially low valuations of their stakes.”

Tinder’s hit interactive series Swipe Night proved to be a wildly successful marketing strategy. As a result, the popular dating app will be debuting the series internationally in February 2020.

According to The Daily Dot, Tinder users have been “flooding” social media during and after the game (which can be seen from 6pm – midnight every Sunday), comparing their choices and discussing what happened. Tinder has also revealed that they’ve seen a “significant uptick” in user engagement since the series debuted. CNN Business reported that total matches on the app rose 26 percent on Sunday nights. Messages between users also rose 12 percent.

As a result, Tinder decided to take the series worldwide. It debuted in the U.S.