Finances

Match Group Releases Impressive Q1 2018 Earning Results

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It’s been a tumultuous month for Match Group. The company’s share price dropped over 25% in the wake of Facebook's announcement that it was entering the online dating space, prompting CEO Mandy Ginsberg to assure users and investors that Match Group had little to fear from its new competitor.

“People don’t want to mix Facebook and their dating lives,” she said in an interview with Bloomberg.

She may be right. Looking at Match Group’s Q1 2018 Earning Results, also released this month, the company appears to be in a strong position despite the recent hit.

Spark Networks SE Reports Second Half And Full Year 2017 Financial Results

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Spark Networks SE, the platform behind dating brands including EliteSingles, Jdate, Christian Mingle, and Silversingles, has released its second half and full year 2017 financial results.

The report comes nearly six months after Affinitas and Spark Networks Inc. merged to form Spark Networks SE. The companies’ combined portfolios position Spark Networks SE as a leader in the serious segment of the dating market with a global network of nearly half a million monthly paying subscribers across 29 countries.

"With the close of the merger between Affinitas GmbH ("Affinitas") and Spark Networks, Inc. ("Spark") in November 2017, we have created a pure-play leader in the dating industry with increased scale and a portfolio of well-known brands," said Jeronimo Folgueira, Chief Executive Officer of Spark Networks SE, in a statement. "We have only just begun to realize the benefits of the merger, as the results we reported today include just two months of Spark's performance.”

California Court Finds Tinder Guilty of Discrimination in Its Pricing

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Tinder’s premium service has been controversial since its debut in 2015. The company started off on the wrong foot by setting higher prices for users who were older than 30, and a sliding scale to younger users. Now, a California appeals court has found the company’s pricing model to be discriminatory to older users.

Judges with the California 2nd District Court of Appeals reversed the decision made by a previous judge, and has ordered Tinder to stop charging older customers more for its premium service, according to reports.

Tinder was charging users 30 and older $19.99 to use the premium service as opposed to those in their twenties, who were only charged $14.99 or $9.99. For the extra funds, users got to “superlike” their favorite matches, swipe as much as they wanted, change their decision on a match even after they swiped left, and avoid those pesky ads that pop up in the free version.

‘Hater’ Dating App Just Scored $200k From Mark Cuban On ‘Shark Tank’

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Image: ABC

Sick and tired of the relentless positivity of people trying to put their best foot forward on dating apps? Brendan Alper has the solution - now with Mark Cuban’s blessing, Shark Tank stardom, and a six-digit investment.

Alper is the brains behind Hater, an unusual take on digital dating that matches users based on things they can’t stand. Instead of mutual likes, Hater searches for mutual dislikes, prompting singles to bond over their most despised people, places, things, and concepts.

Following a successful public debut around Valentine’s Day in 2017, Alper appeared this month on ABC’s hit show Shark Tank to take Hater to the next level.

Bumble’s Growth Into a Billion-Dollar Business

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Whitney Wolfe Herd, founder and CEO of female-friendly dating app Bumble, was just named to Forbes’ “30 Under 30” list, and is featured on its December 2017 cover. This is no small feat – her dating app has amassed a large following with 70% year-on-year growth, according to the article, and has 22 million registered users. In comparison Tinder has 46 million registered users and last year saw growth at 10%.

The company is also being eyed by Match Group, owner of dating app rival Tinder, and is said to be in talks for over a billion dollars as an asking price. Herd turned down the company’s original offer of $450 million, according to recent reports.

Will Match Group Acquire Bumble for One Billion?

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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.