The OPW/iDate Weekly News Summary.
- iDate PID Conference in Odessa May 24-25, 2018
- iDate Dating Industry Conference in Los Angeles June 12-13, 2018http://idate2018.com
- Stay informed. http://www.onlinepersonalswatch.com
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Dating App Paktor Is Heading Towards An IPO On The New York Stock Exchange
E27.CO - May 13 - M17 Entertainment, the company that owns Paktor and live-streaming service 17 Media, is hoping to raise US$115M in IPO. M17 made ~$90M in revenue in 2017, but operated at a loss of US$61.8M. In Q1 2018, the company made $37.9M and is operating at a loss of $26.9M. The strategy for the startup is to expand into Japan, expand content offerings, grow the number of artists on the live-streaming service and achieve profitability. Paktor has 14.6M people using its dating services, but that is split between the brands of Paktor, Goodnight and Kickoff.
Match Group Q1 Results & Earnings Call Highlights
OPW – May 9 – Match Group has released its Q1 2018 earning results. "We are delivering all time best," said CEO Mandy Ginsberg at todays earnings call. Total revenue grew 36% YOY to $407M, the highest quarter over quarter revenue growth since the IPO. Tinder average subscribers were 3.5M in Q1 2018, increasing 368K sequentially and 1.6M YOY. Operating income was $112M, an increase of 91% YOY, while Adjusted EBITDA increased 60% YOY to $138M.
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PeerStream Q1 Results: Dating Revenue In Decline
GLOBE NEWSWIRE - May 9 - PeerStream's (f/k/a Snap Interactive) total revenue was $5.7M, down 14.5% YOY and 3.5% down from Q4 2017. The sequential quarterly decline was due to a decline in revenue from dating properties. Subscription revenue was $5.4M, down 12.8%. Net loss from operations was ~$0.8M as compared to a net loss of ~$1M in Q1 2017.
Tinder Is Testing Location-tracking Features
THE VERGE - May 11 - Tinder's director of product revenue, Jeff Morris Jr, tweeted some of the features Tinder is working on this year, including looping videos, women being able to message first, and location tracking. The new location-tracking feature, called Places, seems to function similarly to the dating app Happn in that users can view places they've visited and then see other people who have been there. The company appears to have partnered with Mapbox for the map and FourSquare to populate it with places. Users can apparently also identify places they like for potential matches to view and bond over.
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Dating App Flirtar Uses Augmented Reality
BBC - May 9 - Dating app Flirtar is the first to use augmented reality (AR), but there are several more on the way. Feed, a platform for singles and couples, is launching a platform called Signal, while mainstream apps like Tinder could also expand with AR. Flirtar is only a few months old, but its international user base already stands at ~5K, 10% of whom are in London. The apps is like Pokemon Go, but instead of pokemons, the app shows singles who are using the same augmented reality app. Their faces are circled on a screen as users pass them physically in the street. It feels like a game. When a bubble pops up, it shows a picture of the user in question, along with their name and age. To chat to someone, users have to 'like' them. Flirtar's CEO, Anderson Gobbi, says it "bypasses the disappointment and frustration created by fake profiles" as profiles are only tagged to physically present users.
Tinder Is Moving To Forced Arbitration, Existing Users Can Opt Out Via Email Only
MIC - May 11 - Tinder has updated its terms and conditions. It added changes surrounding "retroactive and prospective arbitration." Basically, Tinder is preventing users from taking it to court. Existing users have the ability to opt out of their new Arbitration Agreement, but they will have to email Tinder, and they have one month to do so. The terms of service addition is likely a response to Tinder's age discrimination lawsuit. Tinder was accused of discriminating against its older users. While younger users were charged $9.99 or $14.99/month for the premium version, users 30+ were asked to pay $19.99/month. Tinder's terms of service update will make suing the company harder. Though users who want to retain their right to do so can email email@example.com
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MyLife Launches Reputation Platform
PR NEWSWIRE - May 10 - MyLife is allowing websites and mobile app developers - including dating and all other online services - to verify profiles, and provide access to Background Reports, Reputation Scores, and personal reviews for all of their members. MyLife has invested ~$240M into its platform and provides compiled government, social, and public records for ~320M people in the United States, giving access to verified background records including a person's age, past and current marital status, criminal and court records, lawsuits, liens, and bankruptcies, as well as Yelp-like personal reviews and an overall Reputation Score for everyone so people can know more about others they are engaging with online.
Match.com User Alleges Site Spams Paying Users With Fake Profiles
LEGAL NEWSLINE - May 9 - Matthew Ditnes, individually and on behalf of all others similarly situated, filed a complaint against Match Group over alleged violation of the Illinois Consumer Fraud and Deceptive Business Practices Act and Illinois Dating Referral Services Act. He alleges that he subscribed to Match.com in Dec 2017 and paid $59.94 for a six-month subscription. He alleges immediately after signing up, he received messages that other users were interested and that many messages used the same profile picture for different accounts.
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