The OPW/iDate Weekly News Summary.
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:~ TOP ONLINE PERSONALS WATCH NEWS ~:
Match Group Reports Q2 2019 Results, Invests in Egyptian Dating App Harmonica
MATCH GROUP - Aug 6 - Match Group Q2 total Revenue grew 18% YOY to $498M. Average subscribers increased 18% to 9.1M, up from 7.7M from Q2 2018. Tinder average subscribers were 5.2M in Q2 2019, increasing 503K sequentially and 1.5M YOY. Operating income was $173M, up 15% YOY. Match Group has also invested in and brought on the team behind Harmonica, a dating app based in Egypt. Match Group will further develop this app and invest in product and marketing to expand into Asia and MENA (Middle East and North Africa) that are predominantly Muslim.
Grindr and Romeo Can Expose User Locations
FAST COMPANY - Aug 8 - Researchers from the cyber-security company Pen Test Partners found that Grindr, Recon, and Romeo apps allow users to share their general location by displaying their distance from each other. Anyone with basic computing skills could use that information to determine another user's exact location using a method known as trilateration. The researchers created a tool that faked their own location and did all the trilateration calculations automatically, in bulk, allowing them to generate maps of precise user locations for thousands of individuals at a time.
IAC Considering Spinoff of Match Group
DALLAS BUSINESS JOURNAL - Aug 8 - IAC is mulling the move for Match Group, which is publicly traded, along with ANGI Homeservices, according to a shareholder letter from IAC CEO Joey Levin. "We don't yet know where that process will lead – there's lots of work to be done and details to consider – and we may ultimately choose to spin off both, one or neither," Levin said in the letter. IAC's economic ownership interest in Match 80% and its voting interest was ~95%. The decision should be reached in the coming months.
Bumble BFF Launches Campaign in India
INDIAN TELEVISION - Aug 5 - Bumble BFF today launched its first campaign "Find Real Friends" in India to promote its friendship-finding mode, which is centered around normalizing the need to make new friendships throughout life and supporting women to feel empowered and safe in doing so. Bumble BFF believes that building a strong community is the key to a happy and healthy life. The Bumble friendship platform has been very successful in India. 40% of women on Bumble in India are using Bumble BFF to find new friends.
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Former Tinder Exec Sues Company, Alleging Sexual Assault
LOS ANGELES TIMES - Aug 5 - IAC's former CEO Greg Blatt is named as a defendant in a new lawsuit by former Tinder executive Rosette Pambakian. She is suing him for sexual battery - and suing the company itself for firing her after she went public with her accusations in an earlier lawsuit. In the suit, Rosette Pambakian alleges that Gregory Blatt harassed and assaulted her at a company Christmas party held at the SLS Hotel in Beverly Hills in December 2016.
Spark Networks Closes Its Deal to Acquire Zoosk
CHEDDAR - Aug 3 - Spark Networks SE became the second largest dating company in North America after closing its deal to acquire Zoosk. Jeronimo Folgueira, CEO of Spark Networks, said: "With the acquisition of Zoosk we became now almost three times bigger than we used to be. So, that unlocked all the potential being really large in this market."
Gaper Is the Tinder for Age Gap Lovers
PR NEWSWIRE - Aug 8 - Gaper is an age gap dating and social networking app, specifically designed for older men dating younger women and older women dating younger men. Unlike Tinder and similar apps, there's no swiping involved. Rather, Gaper allows users to browse profiles in their area and make connections.
Group Dating App 3fun Exposed Sensitive Data on 1.5M Users
TECH CRUNCH - Aug 8 - The researchers from Pen Test Partners called the app a "privacy train wreck." ~1.5M users of the group dating app had their personal data exposed, including their real-time location, because of a vulnerability in the app. 3fun bills itself as a "private space" for kinky, open-minded people. Because the app wasn't properly secured, the researchers found they could plug in any coordinates they wanted to spoof their location, revealing sensitive information on anyone within any location of their choosing, including government buildings, military bases, and intelligence agencies. The researchers contacted 3fun on July 1 to report the bugs. Munro said the app maker took weeks to fix the issues.
The OPW/iDate Dating Business Insider is first and the largest weekly news summary in the dating industry. Since 2004.
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