China

Grindr Eyed By Italian App Company Bending Spoons

China
  • Wednesday, February 12 2020 @ 11:11 am
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Bending Spoons

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

Hong Kong Protests are Shaping the City’s Dating Scene

China
  • Thursday, January 16 2020 @ 12:04 pm
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Protesters are using Dating Apps to Connect

For the past several months, protests have been breaking out on a regular basis in Hong Kong, thanks to young student activists who want to maintain the city’s democratic leanings over the more oppressive mainland Chinese government’s rule. But along with the students who are moved to action, dating culture in Hong Kong is also changing as a result of the protests.

Many daters use popular dating apps like Momo, Tantan or Tinder to connect with each other, and aren’t afraid to list their political feelings in their profiles or when they message other daters. (Adding a yellow ribbon to your profile means you sympathize with protestors while a blue ribbon means you support the police and the mainland Chinese establishment.) Some are even posting photos of themselves at protests as a way to attract potential dates with the same political leanings.

Tencent Goes After Tinder and Tantan with its New Dating App Qingliao

China
  • Tuesday, January 14 2020 @ 12:00 pm
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Qingliao Logo

Tencent, China’s largest social networking platform and operator of the immensely popular app WeChat, has launched a new dating app that seems positioned to compete with both Tinder and Tantan, China’s most popular dating app.

Qingliao - roughly translated as “light chat” – is kind of a hybrid of different dating app features already on the market. There is no swiping, but users can choose to “like” or “pass” on a potential match by choosing an “X” or a heart. When two users are matched, they can start chatting, according to details described in South China Morning Post.

Momo Announces Financial Results For Q3 2019

China
  • Monday, January 06 2020 @ 09:41 am
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Momo reported financial results for the third quarter of 2019. The company’s major moments this year included topping Fortune’s ranking of the 100 fastest-growing companies in 2019 and working to get Tantan reinstated after it was removed from Android app stores by order of governmental authorities in China. Overall, Q3 was a positive period for the Chinese social networking and dating company.

Momo highlighted the following achievements for Q3 2019:

Dating.com Acquires Dil Mil, Popular Ex-Pat Dating App

China
  • 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 

China
  • 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.

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