Match Group

Match Group Disputes Claim It Intentionally Undervalued Tinder

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There’s no sign of a slowdown in the legal battle between Tinder co-founder Sean Rad and Tinder’s parent company, IAC/Match Group.

In August, Rad and nine other plaintiffs sued IAC over alleged devaluation. Rad claims the company undervalued Tinder in July 2017 at $3 billion to prevent him from accessing the full value of his stock options. The suit alleges that IAC created “a false picture of Tinder’s financial condition and prospects” resulting in “bogus numbers” and that “through deception, bullying, and outright lies, IAC/Match stole billions of dollars from the Tinder employees.”

IAC is now fighting back with a motion to dismiss the lawsuit, filed on October 9, which claims that Rad “fully participated in the valuation process” of Tinder and shares responsibility for the company being undervalued. Though IAC failed to accurately predict Tinder’s success over the past year, the motion argues, Rad also failed.

Tinder Enters The Content Space With Launch Of Lifestyle Site ‘Swipe Life’

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Tinder has already secured its place in the zeitgeist of the 2010s, but its latest launch promises to make the notorious dating app an even more inescapable part of pop culture. Senior Director of Content Kelsey Blodget announced Tinder’s new venture in an interview with Cheddar: an online magazine.

The newly debuted lifestyle site has been christened Swipe Life. The content covers a range of subjects relevant to modern day daters with a focus on issues that are pertinent to 18-25 year olds, the primary demographic of the dating app. A full-time editorial staff and a team of freelance writers have been brought on to keep the digital publication up to date.

Blodget describes Swipe Life as “an editorial lifestyle website where we’re covering today’s dating culture. So really the journey of being single, the ups and downs. It’s fun, it’s funny, sometimes it’s confusing - and we really want to be a companion on that journey for our users.”

Dating App Hinge Launches Feedback Feature “We Met”

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Dating app Hinge is getting serious with its mission to help people form long-term relationships. This week, it became the first dating app to launch a breakthrough feature called “We Met,” offering its users an opportunity to give feedback on their dates.

“We Met” will allow two matched members to privately confirm if they actually went on a first date and share how the date went. Hinge will then use this information to suggest better matches, with the goal of refining its algorithms to yield better first dates – ones with relationship potential.

The information users share is kept confidential, so no need to worry about whether your date will find out what you said. The main idea is for Hinge to improve the matchmaking process with more real-world data. (Though if your date gets too drunk or stands you up, for instance, Hinge also allows its users report disrespectful behavior.)

Analysts Project Online Dating Industry Worth $12 billion by 2020

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The online dating market is hot right now and projected to grow to $12 billion by 2020. This is in part thanks to bullish analysts targeting a price point of $66 for Match Group stock, based mostly on the incredible revenue growth of Tinder.

This projection by Nomura Instinet came on the heels of a downward market in early October. Match Group stock was projected to be 28% higher than what it was worth on Thursday October 11th before the announcement. The $66 valuation gave Match Group a bump on Friday.

Facebook’s entry into the online dating market could have an effect on these projections, though Nomura Instinet analysts say the valuation is based on Match Group’s effective strategy of buying competitors before they scale. Most particularly, Match Group was very successful in its purchase of dating app darling Tinder, which has seen unexpected revenue growth since launching its paid premium service Tinder Gold.

Hinge’s Unusual Workplace Perk: A Monthly ‘Dating Stipend’ For Employees

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It’s said that you should practice what you preach. For dating app Hinge, that means supporting employees with an exceptionally on-brand workplace perk: a $200 monthly stipend to go on dates.

Companies are working harder and harder to attract and retain talented candidates. Sufficient compensation is a must, but employees are increasingly looking for positions that offer benefits beyond salary. Perks like free food and beverages in the office, flexible work hours, and gym reimbursements are practically standard for businesses in competitive industries, and startups are getting increasingly creative in their approach to employee benefits.

Hinge’s dating stipend is a unique addition to the company’s more familiar perks, which include weekly catered breakfasts and lunches, unlimited annual leave, and exercise benefits. Employees can use their monthly allowance anywhere in the United States to spark a new romance or nurture long-term love. After cashing in, they are encouraged to leave reviews of their experiences on the app to help Hinge members succeed in their own dating endeavors.

"No Evidence" User Accounts Were Compromised After Facebook Hack, Says Tinder

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Tinder users can breathe easier this week. Following the Facebook hack that compromised 50 million user accounts, Tinder has announced there is "no evidence” to suggest its own accounts have been breached as a result.

On Friday, September 28, news of the hack broke. An unknown attacker, or attackers, exploited a weakness in the social network’s systems to take over millions of accounts, gaining access to their profiles, photos, friend lists and, possibly, private messages. More than 90 million users were logged out of their accounts by Facebook as a precaution, including the accounts of company CEO Mark Zuckerberg and COO Sheryl Sandberg. It is one of the most significant cyber attacks in Facebook’s history.

"We do not yet know whether these accounts were misused but we are continuing to look into this and will update when we learn more," Facebook CEO Mark Zuckerberg said in a blog post published on Friday.