The OPW/iDate Weekly News Summary.
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:~ TOP ONLINE PERSONALS WATCH NEWS ~:
Hinge Is Adding Video
MASHABLE - June 27 - Hinge is launching a new video feature that will allow users to add clips to their profile. Hinge's CEO Justin McLeod says, "it adds more texture to profiles, so people can really get a good sense of you." They're not the first of the major apps to go in this direction. Match is launching Stories, a tool that lets users stitch together photos, videos, and voice to tell people about themselves. Back in January, Bumble announced it was adding disappearing snaps, but it has not yet made that feature available. So that makes Hinge the first to actually roll it out.http://www.onlinepersonalswatch.com/new ... video.html
The Meet Group Reaches Agreement With Harvest Capital
BUSINESSWIRE - June 27 - The Meet Group, a public market leader in the mobile meeting space, has entered into a cooperation agreement with Harvest Capital Strategies LLC and its affiliates, which owns ~6.3% of The Meet Group's outstanding shares. Under the terms of the agreement, The Meet Group will appoint to its Board two new independent directors: Jim Parmelee, who has agreed to join the Meet Group Board effective immediately, and a second director mutually acceptable to The Meet Group and Harvest Capital to be identified within the next 90 days.http://www.onlinepersonalswatch.com/new ... pital.html
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Lively Expands To Augmented Live Video Chat
NEWSWIRE - June 28 - Lively, a video-based social app, is releasing augmented live video chat. In the new experience users will pick a topic they'd like to talk about and instantly be connected with another person who'd like to chat. The camera will be blurred, with the blur going away over time. Users will have the option to keep adding the blur back, in case they wish to remain hidden.http://www.onlinepersonalswatch.com/new ... -chat.html
Grindr Asks Judge To Toss Suit Condemning Gay Dating App
ASSOCIATED PRESS - June 30 - Grindr wants a judge to dismiss the claims of a New York man who says he's been accosted at home and work by ~1k sex-hungry men after an ex-boyfriend posted fake profiles soliciting men interested in exploring violent fantasies. Herrick sued Grindr earlier this year in Manhattan federal court, saying he couldn't stop a steady stream of unwelcome visitors despite ~100 complaints. He seeks unspecified damages. Grindr said it can't be blamed and lawsuit must be dismissed because Herrick's lawyers "cannot identify any cases in which a court found that a website owed a duty to protect a plaintiff from third-party content. This is unsurprising, given Congress' explicit instruction in the CDA that no such duty exists."http://www.onlinepersonalswatch.com/new ... g-app.html
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Chinese LGBTs Economy To Overtake America's
FORBES - June 23 - China's Communist government doesn't encourage LGBT causes or other social activism. Yet China lacks strong organized religion, so the LGBT community is tacitly accepted as long it don't stand in the way of authority. China's three-year-old pink economy is one-third the size of the more mature American pink economy. China is the world's third largest LGBT market after Europe and the US and worth $300B per year. Pink spending power the U.S. came to $917B in 2015. China's Blued app for LGBT services has 27M users, making it the biggest app of its type worldwide.http://www.onlinepersonalswatch.com/new ... ricas.html
How Much Higher Can Momo Stock Go?
BNL FINANCE - June 28 - Momo started as an online dating app and has now progressed to being a full social media company. Momo monetizes its users in the following ways: Paid membership subscriptions – $2 a month, or less if a user commits to a longer term of use. Games. Advertising/Marketing. Virtual gifts or on-site purchases. Active users reached 85M in March 2017, up 18% year on year. Q1, 2017 revenue surged by 412% YOY, to reach $265M. The main revenue driver is live video streaming (3.5M paying subscribers).
Momo has a market cap of $7.6B, zero debt, $739M cash, and a 1 year return of 262%. 2017 PE is 29. EPS is forecast to increase by 3.6 fold by end 2019, consensus price target is $48.30, about 24% upside.http://www.onlinepersonalswatch.com/new ... ck-go.html
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Tinder's New Subscription, Tinder Gold, Lets Users See Who Already Likes Them
TECH CRUNCH - June 28 - Tinder will be testing a new service called Tinder Gold in select markets, aimed at increasing the number of paying users. With Tinder Gold, users will see all those who have already swiped right on their profile, through a new feature, "Likes You." The company will initially test the service in Argentina, Australia, Canada, and Mexico. It won't be available in the U.S. at this time. Tinder is also not detailing the pricing for the upgrade. However, for existing Tinder Plus subscribers, it will only be a small additional fee beyond what they're already paying.http://www.onlinepersonalswatch.com/new ... -them.html
With Chappy, The Approach To Dating Is A Gentlemanly Affair
THE PRIDE - June 26 - When Jack Rogers and Ollie Locke started their gay dating app Chappy, they knew exactly what they wanted it to be. It was a simple concept: An app where gay men could come out and have conversations that went beyond "top or bottom." Today, the app has 1M users in the U.K. and a growing U.S. market. With Chappy, each user has to connect their account with a Facebook profile, upload photos with their actual faces in them, and they have to be clear about what they're looking for – something forever, something for now, or something in between.http://www.onlinepersonalswatch.com/new ... ffair.html
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