The OPW/iDate Weekly News Summary.
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Fosun Buys Matchmaking Service Provider From Chairman For $603M
DEAL STREET ASIA - July 5 - Fosun International Ltd said it would buy 69% of match-making and dating service provider Baihe Jiayuan Network Group from Chairman Guo Guangchang for 4B yuan ($603.4M) cash. Baihe Jiayuan has ~310M registered users and ~200 offline service centres covering 75 Chinese cities. In May, Fosun's tourism arm said it was hunting for more overseas deals to grow its leisure vacation business.
Tinder Loops Rolls Out Globally
TECH CRUNCH - July 5 - Tinder Loops, the recently announced video feature from Tinder, is today rolling out globally. Tinder has been testing this feature in Canada and Sweden since April, when it was first announced, and has rolled out to a few other markets since then. Loops are two-second, looping videos that can be posted to users' profiles. Users can't shoot Tinder Loops from within the app, but rather have to upload and edit existing videos in their camera roll or upload a Live Photo from an iOS device. Users who added a Loop to their profile saw that their average conversation length went up by 20%. The feature seems to be particularly effective in Japan with users receiving an average of 10% more right swipes if they had a Loop in their profile.
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The Inner Circle Passes 1 Million Members
THE INNER CIRCLE - July 2 - "300 weddings, 100 babies and 1M members" is the latest achievement mark of a selective dating app - The Inner Circle. The app, established in 2012, is now in 30 cities around the world. The app claims to connect only the "most attractive and inspiring singles" and has very strict criteria for its members to be accepted. Since 2012, The Inner Circle has successfully held 288 events, attended by 40K people.
TrulyMadly Reports A Flat Growth
ENTRACKR - June 30 - TrulyMadly began operations in India in early 2014. Since then, the company has been steadily moving forward without losing much money. But, at the same time, it's not growing unlike other Internet-businesses across segments. TrulyMadly clocked a revenue of Rs 7.2 crore (~$1M) in FY17, ~4% growth compared to the previous fiscal. So far, TrulyMadly had raised about $6M from Helion Ventures and Kae Capital. Besides subscription, the company makes money via 'Select' matchmaking service.
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Gay Dating App Thrives In China
CBC.CA - July 5 - Based in Beijing, Blued is the most popular gay dating app in the world. Blued operates mostly in China and Southeast Asia, but has plans to expand to Mexico and Brazil and eventually to North America and Europe. It's also moving beyond dating to offer adoption services to gay couples and free HIV testing clinics in China. Beijing's approach to homosexuality has been ambiguous and sometimes contradictory. "The government has its 'Three No's,'" said Xiaogang Wei, the executive director of the LGBT group Beijing Gender. "Don't support homosexuality, don't oppose and don't promote." In 2016, Beijing banned depictions of gay people on TV and the internet in a sweeping crackdown on "vulgar, immoral and unhealthy content." Regulations said any reference to homosexuality promotes the "dark side of society," lumping gay content in with sexual violence and incest. Yet in April, when Chinese microblogging site Sina Weibo decided to impose its own, apparently unofficial ban on gay content - erasing 50k posts in one day - Beijing seemed to mirror the disapproval of internet users.
Facebook Acknowledges It Shared User Data With Dozens Of Companies
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British Singles Trapped In Casual Dating Cycles, eHarmony Finds
PR NEWSWIRE - June 3 - New eHarmony research reveals that 15% of the newly-single population take just a week to get back into 'the dating game' and many Britons believe that quantity is the key to love – with over a third (39%) thinking the more dates they go on, the more chance they have of finding the one.
Grindr Launches First HIV Test Locator In India
GYASTAR NEWS - June 29 - Grindr worked on the locator with LGBTI organization, Varta Trust and the Chennai-based not-for-profit Solidarity and Action Against the HIV Infection in India (SAATHII).
The OPW/iDate Dating Business Insider is first and the largest weekly news summary in the dating industry. Since 2004.
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