The OPW/iDate Weekly News Summary.
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:~ TOP ONLINE PERSONALS WATCH NEWS ~:
Tinder Sends Match Earnings Blazing Past Estimates
BLOOMBERG - Aug 7 - Match Group's revenue jumped 36% to $421.2M in the Q2, exceeding the average forecast of $413M. The operating income of $150M was up 81% YOY. Earnings were 45 cents a share, surpassing projections for 32 cents. Tinder remains the "growth engine" behind Match, said CEO Mandy Ginsberg. Tinder helped boost direct revenue by 136% YOY in the quarter. The app boasts ~3.7M subscribers, an 81% increase since the second quarter of 2017. Total subscribers across Match Group's 45 brands totaled 7.7M for the three months ending June 30. Match said it's expecting as much as $440M in revenue in the current quarter. For the full year, Match raised the top end of its revenue range by $20M to as much as $1.72B. Match rolled out Picks earlier in the summer, an add-on to the monetized Tinder Gold feature that highlights most likely matches to users. It will also introduce Tinder U, which targets the college-student demographic, in the next few weeks.
Matrimony.com Sees Spurt In Revenue
SIASAT - Aug 11 - Matrimony.com has achieved a consolidated revenue of Rs. 89.6 crores ($13M) for the 2Q, a growth of 6.8% YOY. The company's consolidated net profit after tax for the quarter was at Rs. 15.6 crores ($2.3M), vs Rs 14.9 crores the corresponding quarter of the previous year. Matchmaking segment revenue was at Rs.85.9 crores ($12.5M), up 8.8% YOY. The Marriage Services revenue was at Rs. 3.6 crores ($500K).
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PeerStream Q2 '18 Results
ACCESSWIRE - Aug 6 - Total revenue of $7.4M increased 18.5% YOY due to the company's new business solutions offerings and recognition of revenue from the technology services agreement with ProximaX Limited. Revenue generated from technology services totaled $2.1M. Net loss was ~$1.9M, driven by non-operating losses of ~ $2M from a decrease in the fair value of digital tokens received by the company in connection with the ProximaX technology services agreement. PeerStream Business Solutions provide consulting, services and support related to blockchain technology adoption for corporate clients.
Match Group's New Tinder Features After Subscriber Numbers Top Estimates
MARKETWATCH - Aug 8 - Strong Tinder performance helped Match Group post better-than-expected second-quarter results. The shares were up 12% in premarket trade on Wednesday. Tinder added 299k paying subscribers during the quarter, coming in ahead of analyst estimates as well as the company's own projections. Match is looking for ways to improve the value proposition of Tinder Gold. One new initiative is Picks, a Tinder Gold feature that provides a daily assortment of 4 - 10 potential suitors that an algorithm deems to be highly relevant to a given user. It's currently being tested in a handful of markets since its July launch. Other Tinder efforts include Places, another test feature that lets people see others who have frequented their favorite spots. Tinder soon plans to launch Tinder U, a college-focused product. They will be able to choose only to see matches from their universities and other nearby schools.
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Tinder Wants To Create Interracial Couple Emojis
ELITE DAILY - Aug 8 - Tinder wants to create interracial couple emojis... and it looks like they're actually going to make it happen. After results of a study showed that their app may have been responsible for an uptick in the amount of interracial marriages, people over at Tinder HQ decided conduct a study of their own. The results confirmed that their users are extremely open minded when it comes to dating someone of a different race. For the first step of what they're calling the "Interracial Couple Emoji Project," Tinder asked people to sign their petition on Change.org. "It's time for an Interracial Couple Emoji," the petition page says. "But keep in mind; it can take up to two years for a proposed emoji to complete the review, approval and standardization process. So sign the petition today!" Since starting the petition six months ago, over 50K people have signed it.
Facebook Dating Will Offer 5 Gender Options
DAILYL - Aug 10 - Facebook is testing its newly created dating feature within the organization. Users have the ability to select the one from 5 different genders, like a man, Trans man, Trans woman, woman and non-binary people.
MyLife makes it easy for matches on dating sites and other marketplaces to see reputation scores and run background checks.
Social Discovery Ventures Launches Dating Platform For All STI-Positive People
PR NEWSWIRE - Aug 7 - DatingPositives is a social discovery platform where – for $3.99 per month – people living with STIs can chat, find love, hook-up, seek advice from other people.
Say Allo Launches Video Chat Feature
ACCESSWIRE - Aug 7 - Say Allo, the artificial intelligence mobile dating app, is launching a video chat feature allowing safe video meet-ups within the app. This feature can only be enabled once a match has been created and a video chat request has been accepted.
The OPW/iDate Dating Business Insider is first and the largest weekly news summary in the dating industry. Since 2004.
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