The OPW/iDate Weekly News Summary.
- Online Dating and Dating Industry Conference in Odessa on May 21-22, 2021
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:~ TOP ONLINE PERSONALS WATCH NEWS ~:
The Meet Group Acquired and Looking at 2022 IPO as ParshipMeet!
BUSINESSWIRE - Sep 4 - The Meet Group announced the completion of its acquisition by the parent company of eharmony. ParshipMeet Group was created to manage The Meet Group and Parship Group. It now operates MeetMe, LOVOO, Tagged, Skout, GROWLr, eharmony, Parship and ElitePartner. The Meet Group focuses on community while bringing social entertainment to dating, monetizing through livestreaming video. Parship Group brands are market leaders in the matchmaking space; focused on serious relationships and monetizing through subscriptions. The all-cash transaction represents an enterprise value of ~$500m. ParshipMeet Group is jointly owned by ProSiebenSat.1, a leading free-to-air TV broadcaster and video entertainment company in the German-speaking markets, and General Atlantic, a leading global growth equity firm providing capital and strategic support for growth companies.
ParshipMeet Group has revenues of EUR 451 million and adjusted EBITDA of EUR 95 million as of H1 2020, for the last 12 months. Double-digit annual growth rates expected. The combined company operates as ParshipMeet Group, a newly-minted unicorn and a leading global player in the online dating market. ProSiebenSat.1 owns 53% and General Atlantic 43% in ParshipMeet Group. The remainder is held by management.
ProSiebenSat.1 and General Atlantic are evaluating an IPO for ParshipMeet Group in 2022.
Bumble to Plan IPO at $6B Value
BLOOMBERG - Sep 2 - Bumble is preparing for an IPO that could come early next year. The app could seek a valuation of $6B to $8B. Private equity firm Blackstone Group (known as MagicLab) bought a majority stake in Bumble last year in a deal that valued the company at $3B.
Momo Announces Q2 Results: Revenue Down 7%
PR NEWSWIRE - Sep 3 - Net revenues decreased by 6.8% year over year to RMB3,868.3M ($547.5M). Net income decreased to RMB456.4M ($64.6M) from RMB731.8M in the Q2 of 2019. Monthly Active Users on Momo app were 111.5M in June 2020, compared to 113.5M in June 2019. Total paying users of our live video service and value-added service, including 3.9M paying users of Tantan, were 12.8M.
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TrulyMadly Raises Rs 8.1 Crore
ECONOMIC TIMES - Aug 31 - Indian dating app TrulyMadly has raised $1.1M (Rs. 8.1 crore) from several angel investors and a venture capital firm. The company reported a revenue of Rs. 3.60 crore ($493.4k) in the financial year 2018, Rs. 3.48 crore ($476.9k) in 2019 and Rs. 3.45 crore ($472.8k) in 2020. However, this fiscal year, the company expects to reach Rs. 9 crore ($1.2M) in revenue.
Pakistan Bans 5 Dating Apps for 'Immoral' Content
TELEGRAPH INDIA - Sep 2 - Pakistan's telecom watchdog blocked Tinder, Tagged, Skout, Grindr and SayHi after they failed to take down the improper material. The apps were asked to remove "dating services" and moderate live streaming content "in accordance with the local laws of Pakistan" but they ignored the warning.
Muslim Matchmaking Apps See Spike in Downloads During Pandemic
CBC.CA - Aug 31 - Muzmatch, a muslim matchmaking app, saw a 45% increase in downloads in March globally and 16% in Canada. Minder, a Muslim matchmaking app that launched in 2015, reported a 20% spike in downloads worldwide during the pandemic. Hawaya, a relatively new matchmaking app that launched in Canada in March, saw a 200% increase in swipes from its Canadian users between May to June.
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Tinder's "Swipe Night" to Launch Globally This Month
TECH CRUNCH - Sep 3 - "Swipe Night" interactive video series will be available in Asia and other international markets starting on September 12, giving users another way to connect as they continue to stay at home because of the COVID-19 pandemic. Swipe Night first launched in October in the U.S. It presents viewers with a "choose-your-own-adventure" narrative, but each of its episodes is only seven-minutes-long and users' choices are added to their profile, giving them another way to figure out if someone is a good match.
Dating Apps Saw a 398% Jump in Daily Active Users in India in Q2
EXCHANGE4MEDIA - Sep 3 - India has seen a 398% jump in daily active users on dating apps, according to the Global Mobile Consumer Trends Report 2020. India also saw a 413% jump in downloads by new users.
The OPW/iDate Dating Business Insider is first and the largest weekly news summary in the dating industry. Since 2004.
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