Industry

Gay dating and social networking app Hornet ushered in 2018 in grand style, launching a not-for-profit organization and plans for an Initial Coin Offering (ICO) in the first quarter of the year.

The LGBT Foundation aims to harness the potential of technological innovations like blockchain for the good of lesbian, gay, bisexual, and transgender individuals around the world. Through its initiatives, the Foundation will empower the LGBT community to exert its economic influence, protect vulnerable community members, encourage greater acceptance, and drive positive social change on a global scale.

Resources from the LGBT Foundation will be allocated on an ongoing basis to actively support members of the LGBT community in instances where they are vulnerable, distressed, or suffering from repression or inequality – this could include financial assistance to support political activism as well as logistical and operational support, depending on the particular requirements.

Do dating apps kill the romance of dating, or are they actually helping bring more people together? A lively debate on this topic was held the night of February 6^th in New York, with a panel of experts arguing for and against the motion: Dating Apps Have Killed Romance.

Let’s face it, if you’ve tried online dating, or had a friend who’s dabbled in it (more than 49 million Americans have), chances are you’ve heard a few horror stories. This was the focus of the argument from Eric Klinenberg, co-author with Aziz Ansari of the book Modern Romance, and Manoush Zamoroti, podcast host and journalist who argued for the motion. Citing stories of dates and relationships gone wrong, they argued that not only have dating apps killed romance, they have killed civility among daters. Ultimately, apps have changed the dating culture, and not for the better.

They argued that online dating specifically breeds bad behavior, because people are able to hide behind a screen – or worse, they have stopped interacting or knowing how to interact in real life. Zamoroti gave an example of one of her podcast listeners walking into a bar and seeing a line of single men ordering drinks and swiping on Tinder, ignoring the people around them completely. Plus, some online daters have become emboldened to send lude messages online, which makes the experience even more painful and depressing for other daters.

Valentine’s Day is approaching, which means more news stories about the prospects of finding love online. Dating apps have changed the romantic landscape in recent years and offered more opportunities to meet new people, but have they really helped daters meet their ultimate goals?

On February 6^th Intelligence Squared U.S., a non-profit organization which encourages thoughtful discussion and debate, will be hosting a live debate from New York City: "Swipe Left: Dating Apps Have Killed Romance."

In a nod to the complicated state of dating today, the keynote will be delivered by Daniel Jones, longtime editor of the hugely popular New York Times’ essay column ‘Modern Love.’

Match Group, the company who brought online dating into the mainstream first with iconic dating site Match.com and then with its acquisition of Tinder, is looking for new business opportunities outside the dating industry. This week at CES, the company announced the new app Ripple for those wanting to network for career opportunities.

The app is positioned to be a direct competitor of LinkedIn, a popular career building and networking site. According to Ripple executives, LinkedIn’s framework is too stagnant for users to effectively network, and ends up being primarily a database of resumes. LinkedIn also doesn’t do much to create stickiness for people to update their profiles and check in regularly, unless they are actively seeking clients or trying to find a job.

Ripple borrows the matching game from Tinder to help with its stickiness. When you launch the app, Ripple presents you with people who might be a good professional match, based on interests, people you are connected to, events you’re attending, and groups you are part of. Ripple also includes your social networks like Twitter and Medium, so potential employers or work colleagues can see what you’re posting and what is most current (encouraging you to be more active). Users are able to decide whether someone is a good fit, and then connect with them.

Henry Badenhorst, founder of the groundbreaking dating site Gaydar, has died in his native South Africa at age 51 following a fall from a tower block. His tragic passing comes a decade after his co-founder and former partner Gary Frisch fell to his death in a similar fashion in London.

According to BuzzFeed News, Badenhorst fell from the 23rd floor of the Michaelangelo Towers, a hotel in Sandton, Johannesburg, on 11 November 2017. Initial reports suggest he took his own life, though the exact details surrounding his death remain unclear.

“Eighteen years ago, Henry and his partner Gary revolutionised the way that gay men meet and in doing so created a safer environment for LGBT people everywhere,” said Gaydar’s current managing director, Rob Curtis. “We are shocked and saddened to hear of Henry’s passing and send our sincerest sympathies to Henry’s friends and family.”

The duo launched Gaydar in 1999, after a friend complained that he was too busy to find a partner.

Market analysts have a fascination with Tinder and Bumble, the two fastest-growing dating apps in the online dating industry. Rumors have been persistent that Match Group and Tinder was interested in acquiring the female-friendly dating app for around $450 million as reported back in August of this year, but the company turned down the offer.

Now it seems that Match Group, the parent company of Tinder, is reportedly still in talks to acquire Bumble, but now for a much heftier price tag of one billion US dollars, according to a recent article in Forbes.

Currently, Match Group has only $500 million in cash and a market cap of under $8 billion, according to website TechCrunch. So potential options would be to fund Bumble with some debt, or to do a cash/ stock combination deal, or even to acquire a portion of the company rather than all of it.