The OPW/iDate Weekly News Summary.
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:~ TOP ONLINE PERSONALS WATCH NEWS ~:
London IDEA Soiree, On Monday 19th March
OPW - Mar 7 - Save the date. On Monday 19th March, right after work, IDEA (Internet Dating Excellence Association) members are invited to meet for a drink and to meet fellow CXOs, leaders and owners of dating apps and services. We'll be at an upscale venue near the Barbican for a couple hours.
Please email me at firstname.lastname@example.org
if you'd like to attend. Apply to join IDEA (free) at our Facebook (www.IDEA.gp
) or Linkedin (www.IDEA.gd
The soiree is free, and drinks are kindly sponsored by our favorite UGC review service, Besedo.
Momo Q4 Results: 2017 Annual Revenue $1.3B
MOMO - Mar 7 - Net revenues increased 57% YOY to $386.4M. Net income increased to $97.5M in the Q4 of 2017 from $83.8M in the same period last year. Monthly Active Users were 99.1M in December 2017, compared to 81.1M in December 2016. Full Year 2017 Highlights: Net revenues increased 138% YOY to $1.3B for the full year of 2017. Net income was $318.6M for the full year of 2017, compared with $145.3M in 2016. Live video service revenues continued its momentum and generated revenues of $328M in Q4 of 2017. The rapid growth in live video revenues was contributed by the increase in the quarterly paying users, which was 4.3M for Q4 of 2017, as well as, the increase in the average revenues per paying user per quarter.
The Meet Group Q4 And Full Year 2017 Results
BUSINESSWIRE - Mar 7 - Q4 Highlights: Total revenue $40.1M, up 37% YOY; mobile revenue $32M, up 15% YOY; net income $9.5M, compared to $12.4M in the prior year quarter. Full Year 2017 Highlights: Total revenue $123.8M, up 63% YOY; mobile revenue $97.8M, up 38% YOY; net income of $28.5M, compared to $26.9M in the prior year. "Video has arrived at The Meet Group," said CEO Geoff Cook. "While we only just began to monetize livestreaming video in Q4 of 2017, it's already a $19M annualized run rate business based on February's results, up 70% versus the fourth quarter average. We expect Q4 of 2018 to be the first quarter in our history in which we generate the majority of our revenue from user-pay, rather than advertising". The company has also appointed Jim Bugden as CFO. He was the long-time CFO of myYearbook (the predecessor of The Meet Group).
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Snap Interactive Changes Name To PeerStream
TECH CRUNCH - Mar 9 - Back in 2016 after Snapchat rebranded the company name to Snap to reflect its status as a camera company and more than just Snapchat, Snap Interactive filed a trademark infringement lawsuit to bar the change. It turns out that the lawsuit got quietly dismissed in Dec 2016 when the two settled out of court under confidential terms. And now, Snap Interactive is rebranding, to PeerStream. The company declined to say whether its rebrand was part of the settlement. Despite the lawsuit, Snap Interactive has actually benefited a bit from the mistaken identity: the company's stock shot up 164% in February last year when people mistook it for Snap around the time of the latter company's IPO.
Dating App Viola.AI Partners With 7 New Lifestyle Merchants In Asia
BITCOIN - Mar 7 - Viola.AI, the blockchain and A.I-driven marketplace for dating, courtship and marriage, announces 7 new exciting partnerships with FarEastFlora.com, Love Florist, Roses Only, MemeFlorist.com, Heatwave Shoes, Creative Eateries and CSK Aesthetics to offer goods and services ranging from flowers, gifts, fashion, F&B and beauty in the Asia region which will be available on Viola.AI marketplace. Viola.AI is currently gearing towards their Public Sale on 14 March 2018. Whitelist is now open at www.viola.ai
Moderation Gets a Boost Through Artificial Intelligence - Besedo provides highly accurate AI moderation for some of the biggest dating sites in the world. Using state of the art machine earning Besedo helps clients improve moderation while cutting the cost of moderation by over 50%. Available both with generic and custom models.
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Tinder To Review Its Pay Structure To Close The Gender Pay Gap
CITY AM - Mar 7 - Tinder said today it will be carrying out a comprehensive review of its compensation structure to assess any pay discrepancy and tackle the gender pay gap. "Following the assessment, we will reveal findings and encourage other companies to do the same. If any wage discrepancy issues are found, then we will take all necessary steps to promote an equitable compensation programme for all employees in 2018," Tinder said. The gender pay gap has been increasingly in the spotlight of late - the UK government has required all firms with over 250 employees to publish their data on it by next month. So far, 1609 firms have published the information of ~9K that will need to. Among those, some have revealed hefty pay gaps, but a few - such as Royal Mail and Majestic Wines - have revealed that women's average pay is higher than men's.
Match Group Stock No Longer Cheap But Could Rally Further, Says Analyst
MARKETWATCH - Mar 7 - Jefferies analyst Brent Thill raised his price target on Match Group shares to $50 from $44 late Tuesday, writing that he believes new investors haven't missed Match's rally entirely, despite the stock's 156% rise over the past 12 months. The S&P 500 is up 15% in that time. Thill wrote that Match Group shares still trade at a discount to shares of other subscription companies, including Netflix, Zillow Group and Angi Homeservices based on EBITDA. "The argument can no longer be made that Match is a cheap asset, but we still believe that upside remains," Thill wrote. Tinder continues to perform well and a new paid Tinder feature due out later this year is potentially "a catalyst that can move the stock."
*Courtland Brooks* helps Internet dating companies grow with strategic advisory from seasoned professionals, business development, marketing and media relations services. For the price of a marketing manager you get access to a team of seasoned Internet dating professionals. Email firstname.lastname@example.org
for more info.
Creator of Mamba And Badoo Makes Forbes (Russia) Richest List
FORBES RUSSIA - Mar 6 - The founder of Mamba and Badoo, Andrey Andreev enters the global Forbes richest list with a fortune of $1.5B. Andrey Andreev (43) is not at all like a billionaire. "Such an eclectic, quirky, creative, that the industry needs very much. I hope he does not sell his company in the near future," says Brooks, senior consultant at Courtland Brooks. He recalls the first meeting with Andreev: the businessman appeared in his white T-shirt, asked the necessary questions and left without losing a minute. But on another occasion, after going to Brooks for a meeting of heads of dating Internet services, Andreev spent half a night in the kitchen, preparing his famous soup, which was served in a Michelin star London restaurant. In 1999 Andreev launched the web analytics service SpyLog, and in 2002, the contextual ad service "Begun". Andreev created the Russian dating service "Mamba" a year later. The service made its first revenues through SMS. In Oct. 2005, with 4.5M members, Finam bought it for $20M, enough to launch Badoo in 2006, a service combining the dating and social networking. At the end of 2017 there were 370M members. Andreev lived for many years in Spain, and his knowledge of the Spanish mentality helped him promote Badoo in Europe and Latin America. But to conquer more competitive markets in the US and English-speaking countries, this was not enough. In order to enter the American market, Andreev bought Hot Or Not in 2014. He then introduced swiping. He now launches new companies only if there's a manager able to deal with operations, while he deals with the financing, product support and monetization. Andreev helped Huggle in exchange for a stake, and also in Chappy. Bumble launched Dec. 2014 and had 100k downloads the first month. The idea of ??a dating service where women take the initiative turned out to be a godsend for the American market. He invested $10M for a 78.21% stake. Herd became CEO and took a 20% stake. $100M revenue is expected in 2017, and double this year. "The service is significantly different from Badoo. Guys will go where there are a lot of girls, and are attracted to proactive girls who think in a modern way and are ready to take the first step," explains Mark Brooks about the secret of Bumble's success. Tinder has 50M active users and worth is estimated at $3B. Bumble has 23M users. This year, Herd refused to sell it for $450M to Match Group. In the autumn Match reportedly upped its offer to over $1B. In the past, Andreev was offered to sell Badoo for several hundred million dollars, says Mark Brooks, and now the company, "But it seems to me that Andreev is not ready to retire," the expert concludes.
Tinder Has Patented Swiping And Double-opt-in Matches
AXIOS - Mar 6 - Match Group CEO Mandy Ginsberg made an intriguing disclosure during Q4 earnings call: "On the product front, Tinder has been on the cutting edge of innovation since its inception in 2012, inventing the swipe gesture, which has since become this cultural phenomenon of 'swipe right' and 'swipe left' and that is often imitated on mobile products. Tinder also invented the 'double blind opt-in' whereby two users need to 'like' each other before they can message. In fact, these features are so innovative that Tinder was granted a patent in the dating category by the US Patent & Trademark office." The patent application is dated October 21, 2013.
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