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Tinder Leads For Consumer Spending on Non Gaming Apps in 2019

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  • Wednesday, January 01 2020 @ 11:48 am
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Tinder is rolling in cash.

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.

Harvard Geneticist Aims to Build Controversial Dating App

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  • Tuesday, December 17 2019 @ 12:38 pm
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Harvard Geneticist George Church
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 Acquires Dil Mil, Popular Ex-Pat Dating App

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  • Thursday, December 05 2019 @ 10:52 am
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Dating.com Group Acquires Dil Mil

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.

Match Group Stock Take a Hit as Company Misses Revenue Goals 

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  • Thursday, November 14 2019 @ 03:14 pm
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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.

Bumble CEO Receives Over 4 Million Pounds from Magic Lab Dividend

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  • Friday, October 25 2019 @ 11:30 am
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Bumble founder Whitney Wolfe Herd has secured a 4 million pound dividend payout from parent company Magic Lab, who saw record earnings thanks to its star dating app.

According to The Telegraph, the Bumble windfall is the result of a dividend payout of 20 million pounds from its parent company, and Herd owns about 20% of Bumble. Magic Lab saw earnings skyrocket at the end of 2018 to about 270 million pounds, up 51 percent from the year before. This quarter, the company reported a loss of about 4.8 million pounds.

Bumble’s revenue made up about 48 percent of Magic Lab’s overall business.

Tinder Developing Original Series for Its App

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  • Wednesday, October 09 2019 @ 02:40 pm
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Tinder's New Series is called Swipe Night
Tinder's New Series is called Swipe Night

Tinder will be releasing an original six-episode video series over its app, according to an exclusive report in Variety Magazine.

The new series will be a “choose your own adventure” story available to users when they log into the app. It’s interactive content, so users are able to swipe left and right to continue to different versions of the story. The basic premise involves the apocalypse, and asks the question: “Who would you spend your last night alive with?”

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