Finances

Match Group Sees Spike in Usage, But Not Revenue

Finances
  • Monday, May 11 2020 @ 09:27 am
  • Contributed by:
  • Views: 125

As dating app usage spikes worldwide in the wake of the COVID-19 pandemic, dating app companies are examining whether this means revenue will increase, too. Match Group recently posted a memo to all of its users that while usage is up, new (and paying) subscribers are down in the countries most affected by the pandemic, including Italy, Spain and the UK.

According to Seeking Alpha, Match Group was leading the pack a year ago with revenue increasing year over year in the billion-dollar dating app industry. And now, across the globe its star dating app Tinder is seeing a spike in user activity. It reported a record 3 billion swipes in one day on March 29th. But revenue hasn’t increased along with it.

Match Group’s revenue is gathered in two ways – from advertising on its free platform, and for charging users for premium services on its tiered services – Tinder Plus and Tinder Gold. Users can also purchase in-app a la carte options for certain features like Passport, but right now, Tinder is offering this particular feature free for all users. 

How Coronavirus is Changing Dating Apps

Finances
  • Monday, May 04 2020 @ 11:26 am
  • Contributed by:
  • Views: 210
How the Coronavirus has changed Online Dating

Coronavirus has taken over newsfeeds and has affected all of us, no matter where we live. Now, it seems to be changing how dating apps operate, too.

Dating.com recently reported an 82 percent increase in dating app usage around the world since the beginning of March, when countries began putting restrictions in place. And as Forbes points out - dating apps are moving fast to offer new ways of virtual connection to attract more users and to keep them engaged, now that they have your attention.

Conversations over dating apps have increased. Tinder reports a 20 percent increase in daily messages worldwide. Since March 12th, Bumble has reported a 21 percent increase in both messages sent as well as usage of its new Voice Call and Video Chat features, according to Daily News. New York City – where the current epicenter of the coronavirus outbreak is - had a 23 percent increase in sent messages. And Bumble Bizz reported an even higher spike in activity – a 57% increase in usage over the last few weeks – because people are thinking about their careers and livelihoods as well as dating.

Grindr Will Be Sold By Chinese Owner Kunlun In $608M Deal

Finances
  • Wednesday, April 01 2020 @ 09:45 am
  • Contributed by:
  • Views: 234
Grindr has been acquired by San Vicente Acquisition Partners

Grindr is set to sell for $608.5 million. The sale comes after the US government expressed national security concerns regarding Beijing Kunlun Tech’s ownership of the gay dating app. San Vicente Acquisition Partners — a group of entrepreneurs and investors in the technology, media and telecommunications industries — will acquire a 98.5 percent stake in Grindr in the deal. 

Kunlun is one of China’s largest mobile gaming companies. The company took a majority stake in Grindr in 2016 for $93 million. In 2018, Kunlun purchased the remaining percentage of the popular dating platform for $152 million. The agreement was met with apprehension on the part of journalists, China experts and former intelligence officials, who suggested that it put the Chinese government in a position to demand sensitive data about the app’s users, including those who are not Chinese citizens.

Match Group Reports Fourth Quarter And Full Year 2019 Results

Finances
  • Friday, March 06 2020 @ 09:29 am
  • Contributed by:
  • Views: 182

After a tumultuous year that involved an FTC lawsuit, a split from parent company IAC and the departure of CEO Mandy Ginsberg, Match Group has published its fourth quarter and full year financial results for 2019. Total revenue for the company exceeded $2 billion for the first time.

For the third quarter 2019, Match Group shared the following highlights:

  • Total Revenue grew 20 percent over the prior year quarter to $547 million
  • Average Subscribers increased 19 percent to 9.8 million, up from 8.2 million in the prior year quarter, and ARPU increased 1 cent to $0.59
  • Operating income was $180 million, an increase of 19 percent over the prior year quarter
  • Adjusted EBITDA increased 22 percent over the prior year quarter to $215 million

Tinder Revenue Hits $1.2 Billion In 2019

Finances
  • Thursday, March 05 2020 @ 10:10 am
  • Contributed by:
  • Views: 147
Tinder Revenue keeps going up!

Match Group reported annual earnings for 2019, and its star dating app Tinder came out on top with almost $1.2 billion in revenue for the year.

Tinder had on average 5.9 million subscribers in the fourth quarter of 2019, 36 percent more than the previous year according to The Verge. At the same time, Reuters reported in early February that Match Group missed its fourth quarter revenue estimates as subscriber growth on Tinder fell to its lowest since the fourth quarter of 2018, perhaps an early sign of market saturation. 

Grindr Eyed By Italian App Company Bending Spoons

Finances
  • Wednesday, February 12 2020 @ 11:11 am
  • Contributed by:
  • Views: 422
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

Page navigation