Match Group Shares Rise After Quarterly Report

Match Group
  • Monday, May 15 2023 @ 09:27 am
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Shares of Match Group stock rose following the company’s second quarter forecasts, despite the decline in earnings for Q1.

Match Group reported EPS (earnings per share) of 42 cents, beating the consensus of 41 cents, per Reuters. It’s also a 5 percent increase from the same period last year. Revenue however was $787.12 million for the quarter, below the expected $793.87 million, and a 2 percent decline from the same time last year according to Yahoo! Finance.

Paying app users decreased by 1.1 percent to 15.87 million, according to Yahoo!, but revenue per payer actually increased to $16.26, up from $16 in the last quarter, a hopeful sign.

Match Group to Shut Down Operations in Russia

Match Group
  • Friday, May 12 2023 @ 08:44 am
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Match Group has announced it will shut down operations for its apps in Russia by the end of June, including Tinder.

According to Reuters, the move is due to the ongoing human rights violations happening in Ukraine since Russia invaded the country in early 2022.

"We are committed to protecting human rights," Match said in an annual impact report published on Monday. "Our brands are taking steps to restrict access to their services in Russia and will complete their withdrawal from the Russian market by June 30, 2023."

European police agency Europol has said that dating apps were among online platforms being “hijacked” by nefarious actors for human trafficking, who were capitalizing on the unstable environment in the country. This announcement also drew attention to human rights violations happening among Ukrainian refugees, according to Reuters.

Muzmatch Loses Appeal in Match Group Lawsuit

Match Group
  • Wednesday, May 10 2023 @ 02:34 pm
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Muslim dating app Muzmatch has lost an appeal in its continuing legal battle with Match Group.

Match Group, which owns popular dating apps like Tinder, Hinge and OkCupid, filed a lawsuit against Muzmatch to change its name due to striking similarities with its own brand. The judge in the appeal upheld the June 2022 ruling calling for Muzmatch to make the name change, and the company has recently complied, changing its name to Muzz per The Times of India.

The original ruling also found in favor of Match Group due to SEO (search engine optimization) issues. Having “match” in the app’s name would mean keywords comprising the word “match” would increase Muzmatch’s chances of appearing higher up in Google searches, which means Muzmatch would unfairly benefit from Match Group’s brand.

College Students Launch AI Tool to Help Singles Chat on Dating Apps

Technology
  • Tuesday, May 09 2023 @ 09:52 am
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Rizz Dating Assistant Logo

Four college students have developed a new AI tool that is aimed to help singles communicate better over dating apps. Rizz generates personalized responses to messages using a screenshot of the chat, so singles can choose one, customize it, and move conversations forward.

The developers are coders who told The Washington Post that they struggled to chat with people, and this inspired them to create the app. "The reason we created this app is that we're experiencing the pain of not fully knowing how to converse with people," co-founder Charis Zhang told The Washington Post.

Rizz’s founders are all sophomores in college, with Zhang, Oliver Johansson and Tobias Worledge at the University of California at Berkeley; and Daniel He goes to school at the University of Southern California in Los Angeles.

Netflix Drops Trailer for The Ultimatum: Queer Love

TV Shows
  • Friday, May 05 2023 @ 08:47 am
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The Ultimatum: Queer Love

Netflix dropped its first trailer for the new series The Ultimatum: Queer Love, which will premiere on the streaming service in May.

The trailer is a departure from the original Ultimatum series because all of the couples on the new dating reality show are LGBTQ+ for the first time. According to The Pink News, the new series promises to “showcase more stories of love, relationships and the ups and the downs of commitment” with “brutal honesty” as each couple hits a crossroads in their relationship.

Notably, as show creator Chris Coelen promised last year, this installment would feature “an all-queer cast made up of women and non-binary people.”

Tinder Upgrades Its Photo Verification With AI

Tinder
  • Wednesday, May 03 2023 @ 07:40 am
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Tinder prompt for Verification

Tinder has announced the launch of its new Photo Verification feature, which includes an AI-powered update and video selfie requirement.

According to Tech Crunch, the new Photo Verification is to help users prove they aren’t a bot or catfisher on the dating app by taking video selfies that can be analyzed by AI against their photos. Previously, users were required to take a selfie as instructed by the app to compare against a profile photo, but Tinder is strengthening its process even further by requiring the video selfie, so there is no room for error.

The process for verification requires the user to complete a series of videos responding to questions or prompts, and then the AI tool scans the videos and compares them to the photos the user wants to include in their profile to see if they match. The AI tool uses 3D mapping of facial geometry for both the video and photos, according to Tech Crunch.

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