The OPW/iDate Weekly News Summary.
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:~ TOP ONLINE PERSONALS WATCH NEWS ~:
Momo Acquires Tantan
FINANCIAL TIMES - Feb 23 - Momo paid for the top Chinese dating app $600.9M in cash and 5.3M shares. That brings the total value of the deal to ~$760M. Tantan, dubbed Chinese Tinder, had raised $120M, including a $70m last year. It has enabled 5B matches since its launch. (Tinder claims 8B matches.) Tantan's management will stay and the companies will continue to operate independently.
Axon Invests In Latam Dating Site Mi Media Manzana
PRESS RELEASE - Feb 22 - Axon Partners Group is investing in Mi Media Manzana, the leading online dating platform in Peru. Mi Media Manzana will use the funds to accelerate its growth and strengthen its operations in Latin America. Mi Media Manzana has a dominant position in Peru, Colombia, Chile and Mexico. Its users are single and professional 35+ who are looking for a long-term relationship.
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General Atlantic Buys 25% Of ProSieben's €1.8B Digital Business
PRIVATE EQUITY NEWS - Feb 22 - U.S. private-equity firm General Atlantic has bought a 25% stake in NuCom Group, the digital business of German media company ProSiebenSat.1 Media SE. The deal valued NuCom at €1.8B, including debt, ProSieben said in a statement. The unit consists of 10 businesses, including online dating site Parship Elite Group and energy price-comparison business Verivox, and generated ~€650M of revenue in 2017. As part of the deal, ProSieben and General Atlantic have bought the minority stakes in Verivox and Parship held by Oakley Capital. The London buyout firm retained minority stakes in both businesses when it sold them to ProSieben in 2015 and 2016 respectively. Parship delivered an nearly five-times return on Oakley's invested capital, while the Verivox investment returned two and a half times its money.
JDate Celebrates 20 Years
CHEDDAR - Feb 16 - David Yarus is the Global Ambassador for Jdate. He talks about how the Jewish dating site continues to innovate and help Jewish singles find love. Watch the interview here. Jdate is currently celebrating their 20th anniversary with the "20 Years of Love" campaign. The dating site wants to highlight 20 years of matchmaking by collecting the stories of successful Jdate couples.
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Superdate To ICO
MARKETWIRED - Feb 21 - Superdate Networks, creator of an activity-focused dating app, is planning to launch an Initial Coin Offering with the introduction of SuperdateCoin. Superdate has released its ICO Whitepaper Teaser at http://superdatecoin.io
. On SuperdateCoin users will have to pay to communicate with others. With "cost assigning" a user is "signaling" that he/she did not send bulk messages.
Tinder Vulnerability Let Hackers Take Over Accounts With Just A Phone Number
THE VERGE - Feb 21 - A newly published attack let researchers take over Tinder accounts with just a user's phone number, according to a new report by Appsecure. Tinder has changed its login system to protect against the attack and there's no evidence it was exploited before the patch. Still, it's a reminder of how fragile many login systems still are, and how powerful even basic vulnerabilities can be when chained together.
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Dating Apps Are In Danger Of Confusing The Justice System
THE CONVERSATION - Feb 20 - Dating apps have become so commonplace they're even finding their way into the courtroom with profiles and messages used as evidence of people's identity, behaviour or intentions. Yet people are rarely completely honest and upfront when it comes to dating, especially with the added anonymity of the internet. We risk serious miscarriages of justice. Before criminal trials start to rely on the newer features of dating apps, such as sexual health history and HIV status categories, we need to come up with a way to ensure judges and juries understand how nuanced this evidence might be. Judges and jurors need to remember that you shouldn't believe everything you read online.
Tinder New User Growth Could Be Cut In Half, JP Morgan Says
CNBC - Feb 22 - Tinder could see new user growth cut in half by the end of June unless it gets more kindling, J.P. Morgan said. J.P. Morgan's Doug Anmuth downgraded shares to neutral from overweight. "Tinder's highly successful Gold launch in late August/early Sept 2017 accelerated subscriber growth but we believe Tinder's peak Gold surge is now behind," he wrote. Thanks to Gold offerings, Tinder's user growth skyrocketed, jumping to 476K in Q3 and 544K in Q4. But Anmuth cautioned investors that people aren't likely to continue to join Tinder at that rate; he now expects the app to add 350K users in Q1 and 230K in Q2. Anmuth did note, however, that the company expects a big Tinder product later in the year.
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