The OPW/iDate Weekly News Summary.
- Online Dating and Dating Industry Conference in Odessa on May 21-22, 2020
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:~ TOP ONLINE PERSONALS WATCH NEWS ~:
The Meet Group Q4 and Full Year 2019 Financial Results
BUSINESSWIRE - Mar 11 - The Meet Group, a leading provider of interactive livestreaming solutions, reported Q4 revenue of $57.6M, up 10% YOY; adjusted EBITDA $13.3M, compared with $10.6M in the prior year quarter. 2019 full year revenue was $211.7M, up 19% YOY. On Mar 5, 2020, the Company announced that it had entered into a definitive agreement to be acquired by ProSiebenSat.1's and General Atlantic's joint company NuCom Group in an all cash transaction for $6.30 per fully diluted share representing an enterprise value of ~$500M. The transaction is expected to close in the second half of 2020. "This is an exciting time for The Meet Group," said Geoff Cook, CEO of The Meet Group. "I believe the transaction with ProSiebenSat.1 is a tremendous validation of our strategy to marry livestreaming video with dating."
Grindr Lite Now in India
THE ASIAN AGE - Mar 11 - Grindr has launched its Lite version in several countries, including India, Nepal, Bangladesh, Sri Lanka and Malaysia. Currently, Grindr says, it has 4.5M daily active users in virtually every country in the world. Using less data and storage space, Grindr Lite provides the fundamental features of the heavier version of the popular app, such as profile and picture browsing and in-app messaging, while loading faster.
Match Group Backs US Bill Seen as Privacy Threat
TECHXPLORE - Mar 11 - Match Group publicly endorsed a US bill others in the tech industry fear will erode online privacy and speech in the name of fighting child abuse. "We don't casually lend our support to this legislation," Match Group CEO Shar Dubey said in an online post. "We must balance concerns around privacy with concerns around safety - which sometimes can be in conflict." Lawmakers say the bill - Eliminating Abusive and Rampant Neglect of Interactive Technologies Act (EARN IT) - allows companies to "earn" their liability protection, by gaining certification of compliance from a commission of government, industry, legal and victim group representatives
MyLife - Safer Dating
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Tinder Pulls Global Launch of Apocalypse Show "Swipe Night"
MASHABLE - Mar 11 - Sunday is the app's busiest day, and Swipe Night capitalised on that, with Match Group saying that the event boosted matches by 30%. The show's first season was due to launch across multiple international markets this Saturday. But Swipe Night's international debut was cancelled on Monday night U.S. time, a decision "made at a global level." "Tinder was excited to bring this innovation to Australian members, but given the series' apocalyptic theme, and because we are sensitive to the current events our members are experiencing, we felt it would be difficult to launch it in the right spirit," said the company's PR firm.
Matchmaking Services for Sexual Minorities Rising in Japan
ASAHI.COM - Mar 10 - Matchmaking company Resally started its service in 2016. The company had 160 members in 2016, but the number has now grown to about 500. It has helped 110 gay couples find love. It opened an Osaka branch in February. The membership continues to grow as its service has gained recognition while a growing number of local governments have introduced the same-sex partnership system. According to an online survey conducted by the Japan LGBT Research Institute in 2019 covering ~420K people in their 20s through 60s across the country, 10% of the people identify with being LGBT and sexual minorities.
Survey: 92% of Americans Dating as Normal Despite Coronavirus
US NEWS - Mar 11 - An OkCupid survey found that 88% of people globally are continuing their dating as normal despite the spread of COVID-19. The number is even higher in the U.S., where 92% of Americans have continued to date as normal. Italians are least likely to go on dates, with just 45% of residents continuing to date as usual. Italy has been hit the hardest outside of mainland China with nearly 10,150 people diagnosed with the virus.
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Online Dating Gets Political With Match.com's New Profiles
FORBES - Mar 9 - Match users setting up their dating profiles can now choose from one of nine "political view" options. They can pick anything from "apolitical" or "independent" to "moderate" or "fiscally conservative, socially liberal" - with the standard polarized camps of "progressive" or "conservative" also standing ready.
Senior Dating App Stitch Offers More Than Love
FOX BUSINESS - Mar 8 - Stitch, an online community for singles over the age of 50, was launched in 2014 and is headquartered in Sydney. The site offers three types of memberships: basic, community and community+. The basic membership is free, the community membership costs $60 per year and the community+ type, which allows additional profile browsing, starts at $15 per month. Currently, the app has 1K members. "Lonely people over the age of 60 can see the same health effects as smoking 15 cigarettes a day," said Andrew Dowling, the founder and CEO of Stitch.
The OPW/iDate Dating Business Insider is first and the largest weekly news summary in the dating industry. Since 2004.
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