Meetic

Match Group Announces New Corporate Team and Focus

Meetic
  • Friday, February 03 2023 @ 11:04 am
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Match Group has named new key executives, including its first CTO and a new President and CFO, as well as a new focus on four key businesses – Tinder, Hinge, Asia and Evergreen & Emerging.

According to the company’s press release, Gary Swindler was named to the top position of Match Group as President and CFO, and Will Wu joins as chief technology officer, a newly created position, to oversee product innovation across all apps. Swindler was promoted from his position as CFO and COO and Wu joins from Snap Inc., where he oversaw the commercialization of Snap’s developer platforms and spearheaded the creation of its most famous features like “Discover” and the “Chat” messaging feature, as well as Snap’s social gaming feature. 

Match Group is betting big on Wu, who brings an impressive background with developing one of the earliest revenue streams for Snap, as well as developing Snap’s primary social engagement driver.

Match Group Rolling Out Scam Prevention Campaign in Wake of Growing Problem

Meetic
  • Monday, January 16 2023 @ 07:30 am
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Tinder Date Safely Logo
Image: Tinder

Romance scams have risen sharply in the last two years, so dating company Match Group is launching an awareness campaign across many of its apps to address the issue.

The company announced that its campaign will introduce in-app messages and email notifications, offering users tips on how to protect themselves from online scammers according to Tech Crunch. Tinder and Meetic will offer the tips via in-app messages, outlining behavior that could be red flags. When users come across someone that might be a scammer, the app will offer suggestions like making sure their profile photo is verified or video chatting with them before making plans to meet in person.

Match, Hinge and Plenty of Fish will send message notifications with the same tips but will send emails to users as well.

Match Group Delivers Q4 Results with Cautiously Optimistic Projections for 2021

Meetic
  • Wednesday, February 24 2021 @ 07:21 am
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Match Group shared its fourth quarter earnings this week, offering investors some cautious optimism on what to expect in 2021. 

Last year the company saw record highs in new users and activity, but faced with economic recessions and a global pandemic, revenue growth remained uncertain. The company delivered slightly better than expected results for the last quarter of 2020, with revenue of $651.4 million for the quarter, up from $547.2 million. Analysts had been projecting $649 million according to Market Watch. Match Group also reported net income of $140.6 million, up from $94.7 million this time last year. 

Match Group Reports Fourth Quarter and Full Year 2016 Results

Meetic
  • Friday, February 24 2017 @ 09:04 am
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Match Group reported fourth quarter and full year 2016 financial results, revealing a mix of highs and lows.

“Match Group executed well in our first full year as a public company,” said Greg Blatt, Chairman and CEO. “We had strong double digit revenue, operating income, Adjusted EBITDA and PMC growth, generally on track with our expectations at the time we went public. As we roll into 2017, we’re confident we can maintain that momentum.”

Q4 2016 highlights include:

Tinder, Match, and OkCupid Prepare For IPO

Meetic
  • Sunday, July 19 2015 @ 07:00 am
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If only all breakups ended as well as this one.

IAC/InterActiveCorp announced recently that Match.com, Tinder, OkCupid, and other dating services would become part of their own spinoff unit. The subsidiary will be called The Match Group and will be a publically traded company. Following the news, shares of IAC rose over 5%.

According to the announcement, The Match Group is likely to issue less than 20% of its common stock. The IPO is expected to be completed in the fourth quarter of this year, after which investors will be able to buy stock in the company. So far, the ticker symbol (the three-or-four letter identifications that represent companies on stock exchanges) is unknown.

The Match Group is starting out on top. IAC/InteractiveCorp is a $6 billion media conglomerate, and revenue of the new Match Group accounted for nearly one third of IAC's total revenue in the most recent quarter.

Last quarter, The Match Group reported revenues of $239.2 million, marking an increase of 13% on a year-over-year basis. Reports say Match Group’s revenues are expected to increase 18% in 2015, bringing the number to $1.24 billion.

The hope with separating the Match Group, and combining more established businesses (like Match and Meetic) with earlier stage businesses (like Tinder), is that the move will lead to significant cash flow generation and meaningful growth potential.

Or, as Chariman and Senior Executive Barry Diller colorfully put it, “I'm not a believer in simply agglomerating assets in perpetuity. I've long felt that as entities grow into size and maturity it's healthy to give them separation and independence from a mother church."

It's an exciting time for the industry, but dating services haven't always done well on Wall Street. AshleyMadison forfeited an IPO in 2011. Zoosk filed for an IPO in April 2014, but withdrew the application in May 2015. Hinge, on the other hand, skipped the IPO entirely, instead relying on raising capital from venture capitalists. In 2014, Hinge had raised $12 million.

The Match Group will also face stiff competition from other key listed players like Spark Networks and Jiayuan.com. Still, IAC believes this IPO can give new life to the Group. Estimated EBITDA for The Match Group in 2015 is $264.9 million – and that's excluding the $75 million EBITDA anticipated from Tinder alone.

A well-received IPO could not only put IAC significantly ahead of its competitors, but also serve as a litmus test for the entire dating industry.

The Big Four Release Third Quarter 2013 Financials

Meetic
  • Wednesday, December 04 2013 @ 07:01 am
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Four of the biggest names in the dating industry have released their 2013 third quarter financial info. And it's probably a surprise to no one actively involved in online dating that IAC, Meetic, Spark Networks, and MeetMe all saw growth.

IAC

Revenue for Q3 2013 was $756.9 million, a growth of 6% from Q3 2012, the majority of which came from Search & Applications. Websites revenue increased primarily due to the contribution from About.com (acquired September 24, 2012) and CityGrid Media (moved from Local to Search & Applications in July 2013).

IAC also saw growth in Match revenue. Core, Meetic, and Developing revenues grew 7%, 11% and 58% to $118.8 million, $56.3 million and $26.0 million, respectively, thanks to increased subscribers and the contribution of the introduction service Twoo. As of September 30, 2013, IAC had $768.0 million in cash and cash equivalents and marketable securities as well as $580.0 million in long-term debt.

Meetic

At the end of Q3, Meetic, the European leader in online dating, had increased revenue over the first nine months of 2013 by 2.7% to €126.1 million. Meetic's subscribers for the same period of 2013 increased by 72,998 or 9.5% year over year to 840,801 as of September 30 , 2013. Meetic owes the majority of its growth to its online offerings, but mobile is playing an increasingly important role in the company's success.

Spark Networks

Total revenue for Spark Networks grew for the 11th consecutive quarter in Q3 2013. Divided, Christian Networks revenue grew for the 12th consecutive quarter and Jewish Networks revenue grew for the 2nd consecutive quarter. Q3 2013 revenue totaled $17.4 million, up from $15.9 million in Q3 2012. Most importantly for Spark Networks, revenue growth outpaced the growth of marketing expense, meaning company-wide contribution hit its highest level since the first half of 2012.

MeetMe

MeetMe's 10.1 million in quarterly revenue for Q3 2013 was primarily driven by its mobile segment. Mobile revenue reached another quarterly record of 2.9 million, up 65% year-over-year and 12% sequentially from the second quarter of 2013. The MeetMe team is now focused on driving engagement and bringing new audiences to the MeetMe application, with a significant update planned for the first quarter of 2014.

David Clark, Chief Financial Officer of MeetMe, added, "Third quarter results build on the improvement in top and bottom line financial performance achieved in the second quarter. Together with the launch of our new apps, we are encouraged by the start of what is traditionally our seasonally strongest quarter.

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