The OPW/iDate Weekly News Summary.
- Online Dating and Dating Industry Conference in Odessa on May 21-22, 2021
- Stay informed. https://www.onlinepersonalswatch.com/
:~ TOP ONLINE PERSONALS WATCH NEWS ~:
The Meet Group Q2 Financial Results - Revenue up 74% YOY
BUSINESSWIRE - Aug 6 - Total revenue was $90.3M, up 74% YOY. Net income was $10.4M, compared with net income of $2.2M in Q2 2019. "We expect to close our acquisition by ProSiebenSat.1 and General Atlantic by the end of this year," said Geoff Cook, CEO of The Meet Group. "We have received antitrust clearance in the US, Germany and Austria, and our stockholders have approved the transaction."
Matrimony Reports Strong Net Profit Growth of 38%
EQUITY BULLS - Aug 5 - Matrimony.com Limited, the leading online matrimony company, announced its Q1 2020 financial results. Q1 revenue totalled Rs 86.8 crores ($11.6M), down 9% YOY. Net profit grew 38% YOY to Rs 9.4 crores ($1.3M). Murugavel Janakiraman, Chairman and Managing Director said, "We were able to minimize the impact caused by COVID-19 in the quarter and we have returned to a growth trajectory in June.
Match Group Reports Q2 Results - Revenue up 12%
PRNEWSWIRE - Aug 4 - Total Q2 revenue grew 12% YOY to $555M. Operating income was up 14% to $196M, and Adjusted EBITDA was up 13% YOY to $228M (excludes $8M of separation costs incurred by Match Group prior to the closing of the transaction). Average Subscribers increased 11% to 10.1M. Tinder Direct Revenue grew 15% YOY, driven by 18% Average Subscriber growth to 6.2M. Non-Tinder brands collectively grew Direct Revenue 9% YOY.
RealMe - Making dating apps safer
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Dating App LOKO Hits Canada
THE CANADIAN PRESS - Aug 7 - LOKO, a video-only dating app co-developed by Canadian comedian Norm MacDonald has launched in Canada. LOKO features video profiles of its users instead of photos, and allows them to set up virtual dates. Macdonald developed the app with entrepreneur and actor Vivek Jain of Regina. The two have already launched it in other countries including the U.S. and Germany. It's available for free, but to connect and set a date, users must pay a weekly subscription of $1.99 or $3.99 monthly.
Match Group's BLK Dating App Launches BLKVoices
DALLAS INNOVATES - Aug 4 - Dallas-based dating app BLK, a subsidiary of Match Group, has created a new in-app feature called #BLKVoices to create a space for users to share their opinions on social and cultural topics. Since launching in August 2017, the BLK app has had ~3M downloads, making it the largest dating app for Black singles. Inspired by the Black Lives Matter movement, the engagement encourages conversations around racism and discrimination.
New CheckPlus Tool Brings Safety to Offline Meetups
PR NEWSWIRE - Aug 5 - UrSafe partners with RealMe to create CheckPlus, the first-to-market tool that empowers dating apps and online marketplaces with comprehensive risk evaluation via in-app, off-app and offline protection. The tool also leverages Contextual AI from Spectrum Labs, which helps online dating companies recognize toxic behavior in real-time across multiple languages, including solicitation, sexual harassment, sexual grooming, trafficking, and other disruptive behaviors on apps. With access to CheckPlus, users will benefit from RealMe's security services that confirm a user's true identity prior to a meetup. UrSafe is a voice-activated personal safety app fully integrated with 911. RealMe is a transformative new technology solution providing a turnkey, no-cost way to protect people on dating apps and other online marketplaces.
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Match Confirms Plans for Tinder Platinum
TECH CRUNCH - Aug 5 - Tinder is testing a new top-level subscription plan, Tinder Platinum, which it expects to roll out in Q4. Match described the subscription as providing additional value beyond Tinder's current paid plan, Tinder Gold, but noted the feature was still in the very early stages of testing and was essentially still considered a minimum viable product. According to a U.K.-based Tinder user, the offer for Platinum popped up when they were using Tinder on the web. But they weren't able to make a purchase. The image showed price points as £5.97 per month if on an annual plan, £8.35 per month if on a six-month plan or £14.32 per month if paying monthly.
Grindr Seeks to Push Data Privacy Suit Into Arbitration
LAW360 - Aug 3 - Grindr has urged a New York federal court to push into arbitration a proposed class action claiming it illegally shared users' personal data with advertisers, claiming users agreed to arbitrate such claims in the app's terms and conditions.
The OPW/iDate Dating Business Insider is first and the largest weekly news summary in the dating industry. Since 2004.
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