Industry

Match Groups CEO Mandy Ginsberg

Match Group CEO Mandy Ginsberg has announced she will step down from her role at the company for health and personal reasons.

The news comes as Match Group is in process of separating from its parent company IAC, which is expected to close in Q2 of this year. Shar Dubey, Match Group’s president, will take over for Ginsberg starting March 1st.

According to The New York Post, Ginsberg told Match Group employees the news in an email, citing personal and health reasons for her departure. She described a “personally trying” period according to reports. These included a recent surgery correcting a previous double mastectomy to prevent breast cancer as she was diagnosed with the BRCA1 gene, as well as a tornado slamming into her Dallas home, rendering it unlivable. Ginsberg is stepping back to take care of her health and her family.

Dating app Grindr, currently owned by Chinese company Kunlun Tech, might be off the market soon thanks to a bid by the Milan-based app design company Bending Spoons.

According to Global Dating Insights, Bending Spoons has offered $260 million for the popular gay dating app, headquartered in West Hollywood. Reports are also linking investment firm H14 to the deal, which is headed up by Barbara, Eleonora, and Luigi Berlusconi, children of Italy’s former prime minister Silvio Berlusconi. The app’s original founder Joel Simkhai sold his company for $93 million to Kunlun Tech in 2016. 

Tinder is rolling in cash at the close of 2019 thanks to consumer spending on its popular dating app. According to Annie’s List, it ranks as the number one non-gaming app where consumers are spending money, ahead of entertainment and social network giants like Netflix, YouTube and Tencent.

Video games are by far the most popular apps for consumers and generate the most revenue from in-app spending. However, outside of the gaming world, Tinder subscriptions have driven it to the top spot in consumer app spending.

Months after going public with its intention to spin off Match Group, IAC has entered into a definitive agreement providing for the full separation of Match Group from IAC’s remaining businesses. The transaction will result in IAC and Match Group (which includes dating sites like Match, Tinder, OkCupid and Hinge) becoming two independent public companies.

"We've long said IAC is the 'anti-conglomerate' – we're not empire builders. We've always separated out our businesses as they've grown in scale and maturity and soon Match Group, as the seventh spin-off, will join an impressive group of IAC progeny collectively worth $58 billion today," said Barry Diller, Chairman and Senior Executive of IAC.

Harvard Geneticist George Church

Harvard Geneticist George Church, known for his work on reversing aging, has now turned his efforts to building a dating app that eliminates diseases by matching partners based on DNA compatibility. It works like this: when two users have a low likelihood of passing diseases onto their children, they’ll be matched.

The move has drawn a lot of controversy, namely because of its nod towards eugenics, or “good birth,” an idea popularized under Nazi Germany in the 1930s to eliminate “bad genes” through selective breeding. Church however, argues that the goal is to eliminate disease by pairing people who have the least amount of risk of creating offspring with illnesses or disabilities.

Dating.com Group is expanding its suite of dating apps by acquiring Dil Mil, a San Francisco-based dating app that is popular among ex-pats from India and South Asian countries, according to Tech Crunch.

South Asian ex-pats are less interested in arranged marriages, and have turned to dating apps to help find love in the U.S. However, most popular American dating apps like Tinder and OkCupid aren’t culturally appealing to this group of daters, who are more conservative and traditional in their approach to dating.