The OPW/iDate Weekly News Summary.
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TrulyMadly Turns Profitable in FY18 But Revenue Down by 50%
ENTRACKR - Jan 9 - Online dating has been a tough business to crack in India. This can be gauged from the financial performance of TrulyMadly. While the company has turned profitable in FY18, its revenue has suffered a 50% dip during the same fiscal. With Rs 2.3 lakhs ($3K) worth of profit, TrulyMadly has posted a revenue of Rs 3.61 crore ($500K) in FY18 as compared to Rs 7.21 crore ($1M) in the preceding fiscal. Subscription has contributed ~54.2% of overall revenue in FY18. Its revenue from paid service stood at Rs 1.95 crore ($276K) which is 69.8% up from the previous fiscal. Founded by Sachin Bhatia, Hitesh Dhingra, and Rahul Kumar, TrulyMadly lets singles discover each other through shared interests and personality profiles. The company competes with Tinder, Hyderabad-based QuackQuack, Woo, Bumble and a handful of others.
The Meet Group's Preliminary Q4 and Full Year 2018 Financial Results
PRESS RELEASE - Jan 8 - For the Q4 2018, the company expects revenue of ~$52.3M, above the high end of its prior outlook $49M and adjusted EBITDA of ~$10.3M, above the high end of its prior outlook $9M. For the full year 2018, the company expects revenue of ~$178.5M, above the high end of its prior outlook of $174M - to $175M and adjusted EBITDA of ~$32M, above the high end of its prior outlook of $30M. "We ended 2018 with excellent results across our business," said Geoff Cook, CEO of The Meet Group. "Video revenue grew in total and across each of our apps in the Q4 compared to Q3".
Korean Dating App Amanda Claims 5M Users
THE INVESTOR - Jan 10 - Amanda is a dating app that has shot to the top of the industry charts over the past few years. In the Q2 of 2018, Amanda ranked first in terms of sales in the local dating app market, with ~5M users. This year, the industry is expected to hit 500B won ($446M) in South Korea. One way of quality control at Amanda is through the so-called "member-screening system." People who want to join must be judged by existing members and obtain a score of 3.0 or higher. "Koreans don't like meeting strangers online, especially women, who like to meet people who've already been approved by their friends or peers," explained Shin Sang-hoon, co-founder and CEO of NextMatch, the operator of Amanda.
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Grindr's App Status Places It Outside Section 230 Immunity, Lawyer Argues
LAW.COM - Jan 7 - Whether a website should face accountability for the actions of its users is getting new examination in a harassment suit against Grindr. Attorney Tor Ekeland described Grindr as "a targeting system" that tracked a harassment victim's geolocation despite him not having the app. But opposing counsel from Bryan Cave says even if Grindr "somehow magically tracked people," it would still get Section 230 immunity. Arguing Monday before a three-judge panel for the U.S. Court of Appeals for the Second Circuit, attorney Tor Ekeland asked to revive a suit in which his client alleges an ex-boyfriend created a fake Grindr account under the client's name, then used the profile to send app users to the client's house and workplace. The suit was previously tossed under immunity granted to online services for third-party created content via Section 230 of the Stored Communications Act (CDA). Ekeland said that alleged stalkers used competitors to Grindr to stalk his client, and that the competitors addressed his client's concerns right away. The lawsuit also argued that information that was used to allegedly harass the plaintiff - including "categories in its drop-down menus" portraying him "as interested in hardcore sex" - were created by Grindr and thus outside the scope of the CDA. Grindr's counsel, Bryan Cave Leighton Paisner partner Daniel Waxman characterized the suit as a "straightforward CDA case."
Bumble Has Launched 80 BumbleSpots Already
HOUSTONIA MAGAZINE - Jan 10 - Dating app Bumble has launched ~80 verified locations called BumbleSpots across the U.S. and Canada. Bumble Spots serve as designated places to take the matches—be it of the date, BFF, or networking variety. Depending on the city and the spot, there may also be perks and promos (like food and drink specials or workspace access) or built-in ice-breakers on coasters or napkins.
Ohlala.com, Paid Dating Platform, Claims 120K Users
INTERNET WORLD - Jan 9 - "Paid dating" dating app Ohlala.com claims 120K users in Germany, according its founder Pia Poppenreiter. Ohlala is her second start-up she is involved in. Previously, she founded Peppr in 2014 together with Florian Hackenberger. The company wanted to provide a mediation service for escorts and freelancers. She left the company in 2015 following disagreements with Hackenberger, and started Ohlala. The app allows users to be paid (100 - 200Eur) for going on a date. The revenue us generated by selling Ohlala coins to unlock chats. In 2019 Pia going to publish a book about her experience as a businesswoman.
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Brooklyn Entrepreneur Turns Dating Mishap into Event-Based Dating App
PR NEWSWIRE - Jan 7 - Swoonbox is an event-based dating mobile app, with integrations into TicketMaster, TicketNetwork, Spotify, and Fandango. After a summer running a successful private beta of 3000 users in New York City, Swoonbox is gearing up to launch its public beta in the App Store and Play Store in Q1 2019. The idea was first conceived after co-founder Lester Leong won tickets to the Great GoogaMooga, an exclusive Brooklyn food and music festival. Lester's date cancelled on him at the last minute, leaving him with a spare ticket and no viable options. After spending a year developing the prototype, Lester joined forces with Glitnir Ticketing alumni Bryan Gray, along with its co-founders Gordon Krstacic and Bill McLean, to officially co-found Swoonbox.
Bumble Now Lets Users Filter Matches by Their Star Sign
TENDAILY.COM - Jan 9 - Astro-obsessed daters are thrilled with the new feature but is swiping right based on someone's star sign the ideal way to find love? According to renowned Australian psychic and founder of Absolute Soul Secrets Rose Smith, the whole idea of a list of prerequisites - the ideal age, salary, height, eye colour - is "problematic." Adding the ideal star sign into the mix makes the already small pool of 'perfect matches' even smaller. "But," Smith said, "it does have some validity." "All 12 star signs have positive and negative attributes that you should keep in mind," she explained. If arrogant people really rub you up the wrong way, maybe steer clear of outspoken, bolshy signs like Leo, Taurus and Sagittarius.
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