Types (Niche)

After shuttering Google+ in April, Google is taking another stab at social networking. The company is currently testing Shoelace, a Meetup-esque network focused on connecting people with similar hobbies and interests.

Shoelace is a hyperlocal mobile app that promises to “tie” people together based on their interests, like two laces on a shoe. Users can create listings for events and activities (fittingly called “Loops” on the app) they’re participating in, then invite other people to join them. Invitations can be sent to friends or strangers, whether or not they are fellow Shoelace members. Shoelace also generates personalized daily recommendations help users find the most interesting things happening in their area.

Scruff’s parent company, Perry Street Software, has acquired Jack’d in a deal that is expected to make it the largest fully LGBTQ owned-and-operated software company by both revenue and membership. Jack’d will continue to operate as a standalone app.

“For years, we have admired the diverse and global community on Jack’d. Since its launch in 2010, Jack’d has grown to more than 5 million members worldwide,” said Eric Silverberg, CEO of Perry Street Software. “This acquisition will provide Jack’d members with the same combination of technology and active moderation we have developed at Scruff, so that the Jack’d community members will be protected against harassment, spam bots, scammers, and risks while traveling.”

Tinder Lite on Google Play

Tinder has unveiled its new streamlined app after announcing its debut earlier this year. Tinder Lite will be available as a separate app for Android phones and can be purchased through Google Play.

The new Lite app was designed specifically for users in countries and regions where Internet connectivity is slow and most people have lower-cost phones. According to Tinder CEO Elie Seidman, who spoke at the 2019 Rise Tech conference in Hong Kong in mid-July, the new app “would run faster, consume less battery and reduce network usage by about 20 percent,” as reported by The Jakarta Post.

Four years after a hacking scandal threatened to bring it down, Ashley Madison is celebrating a milestone. The notorious infidelity dating site has reached 60 million members worldwide since launching in 2002.

"Our unique community of like-minded people continues to grow across the globe," said Paul Keable, Chief Strategy Officer of Ashley Madison, in a prepared statement. "We offer discretion to those seeking infidelity, and clearly, with strong results underscoring the company's growth, what we offer is in demand."

Ashley Madison’s latest annual Report on Customer Statistics reveals that more than 14,500 new member accounts were added on average each day in 2018. For every active paid male account, 1.1 active female accounts were created. The site averages more than 440,000 new signups per month and facilitates more than 39.5 thousand affairs per day. In total, over 5.3 million new accounts were registered on Ashley Madison last year.

Dating app Tinder has a hook-up reputation – and because of this, users in more conservative countries in Asia might be hesitant to try the app. In response, Tinder is revamping its image to maintain its growth streak.

Dating app growth overall has slowed in the U.S. as the market becomes saturated, and it is expected to slow even more through 2022. In order to expand its opportunities, Match Group – Tinder’s parent company, has put a lot of resources into the Asian market, including hiring key executives to oversee the region and advertising its suite of apps.

Image: Zoosk

Online dating conglomerate Spark Networks announced its purchase of Zoosk for $258 million USD. The popular dating app was acquired with a combination of cash and stock, and Spark will have full ownership of Zoosk shares.

According to the terms of the deal, Spark will issue 12,980,000 ADSs (American Depository Shares) to former Zoosk shareholders, valued at $152 million based on the closing price of Spark ADSs of $11.78 on June 28, 2019. It also provides for a cash consideration of $150 million, subject to adjustment, according to the company’s press release. Former Zoosk shareholders owned 49 percent of the company.