The OPW/iDate Weekly News Summary.
- iDate Mobile Dating in LA June 1-2
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:~ TOP ONLINE PERSONALS WATCH NEWS ~:
MeetMe Acquires If(we), Parent Company Of Tagged And Hi5
TECH CRUNCH - Mar 7 - The deal is worth $60M in cash, partially funded by a $30M loan from JP Morgan. Tagged and Hi5 will both remain their own distinct brands. If(we) reported $44M revenue in 2016, with 56% coming from mobile and claimed to have 5.4M MAU, with 18k new users coming every day. The company managed to raise $28.7M. After the merger, the combined company will have 10.6M MAU and nearly 1.1M DAU. MeetMe expects If(we) to add $9M to its earnings over the next 12 months.http://www.onlinepersonalswatch.com/new ... d-hi5.html
Momo Q4 2016 - Net Revenue Up 524%
PR NEWSWIRE - Mar 7 - Momo's Q4 2016 revenue increased 524% YOY to $246M. Net income increased to $83.8M, up from $6.1M in the same period last year. Monthly active users were 81M in December 2016, compared to 69.8M last year. Live video service, which was launched in Q3 of 2015, continued its strong momentum and generated revenues of $195M in the fourth quarter of 2016. The rapid growth in live video revenues is mainly because of the increase in paying users of live video service to 3.5M.http://www.onlinepersonalswatch.com/new ... p-524.html
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MeetMe's Full Year Financial Results: Revenue Up 34%, Net Income Up 204%
BUSINESSWIRE - Mar 7 - Total revenue was $76.1M, up 34% YOY. Mobile revenue was $70.7M, up 56% YOY. Net income was $18.2M, up 204% YOY. The addition of if(we)'s Tagged and hi5 brands into MeetMe portfolio is expected to increase their monthly active users to ~10M.http://www.onlinepersonalswatch.com/new ... p-204.html
eHarmony Seeks Buyer For Job Matching Site Elevated Careers
SHRM - Mar 13 - Ten months after eHarmony launched Elevated Careers, a site for job seekers, it is putting that site up for sale, citing lack of experience in the HR technology market. With Elevated Careers, the company had hoped to use its special matching algorithm to match job seekers with jobs and companies. The Elevated Careers site displays the message "Under renovation. Coming back soon!"http://www.onlinepersonalswatch.com/new ... eers-.html
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How The M14 Industries Dragons' Den Deal Collapsed
TECH CRUNCH - Mar 7 - M14 Industries was pitching its dating and social app-building platform for an investment of Ł80k for 15% equity. The M14 founder chose to accept a combined offer from Jenkins and Jones of Ł80k for 20% equity, giving the young startup a Ł400k pre-money valuation. Later, M14 was approached by one of its larger clients who had learned that the startup was preparing to take more investment and asked if they could be part of the deal. The unnamed client was willing to invest at a Ł1.5M pre-valuation, up significantly from the Dragons' Den Ł400k valuation. But agreeing to 20% in the Den, then closing at 6% a few months later, would cause trouble down the line for the show, and possibly lead to people not taking future deals in the Den seriously. So the deal collapsed. In a final, and perhaps, ironic twist of fate, the unnamed investor would also go on to pull out of the deal in favour of simply remaining a customer. However, M14 Industries closed ~ Ł100k with other investors, at a far better valuation, the fonders say.http://www.onlinepersonalswatch.com/new ... apsed.html
BharatMatrimony Wants To Become The Uber Of Wedding Photography
MONEYCONTROL - Mar 8 - Chennai-based online matchmaking portal BharatMatrimony will now supply service providers such as caterers, make-up artists, photographers required to organize an Indian wedding. "The services currently contribute less than 10% of the company's business. However, we expect a three-fold growth during 2018 financial year," said Murugavel Janakiraman, Founder and CEO of BharatMatrimony. Bharatmatrimony currently claims to be getting ~300 bookings for wedding photography. The company will hire 150 photographers. 50M people are looking for life partners at anytime in India. Online match-making represents only 10% of the market. There is so much opportunity for one to grow in the match-making space.http://www.onlinepersonalswatch.com/new ... aphy-.html
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DateTix Plans To Launch In London
PROACTIVE INVESTORS - Mar 7 - DateTix is a mobile app that facilitates on-demand dates. The app has seen a 195% growth in sales for its premium matchmaking business to $96k in Feb 2017, compared to Jan 2017. In the upcoming quarters, the company plans to expand its offline matchmaking operations into new markets, starting with London, Singapore and Bangkok, where the company already has a large online user base.http://www.onlinepersonalswatch.com/new ... ondon.html
Tinder Select Is For Celebrities And Attractive People
TECH CRUNCH - Mar 8 - Tinder has been operating a members-only version of the platform called Tinder Select, which is for only the elite users on the app, including CEOs, super models, and other affluent types.Tinder has invited people to the platform, some of whom have the ability to 'nominate' others. But those who were nominated can't nominate anyone else, which prevents the members-only layer of the app from spreading uncontrollably. It's unclear exactly how Tinder decides who gets invited and who doesn't. One factor that might be included in the Tinder Select criteria could be the Tinder Elo score, which is an algorithmic rating system across all Tinder users. Tinder Select has been around for almost six months. This isn't the first time a dating app has tried to serve its top users. There is Raya and The League. Bumble is relaunching its VIBee "verified" tier which rewards users who make a positive contribution to the Bumble community.http://www.onlinepersonalswatch.com/new ... eople.html
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