The OPW/iDate Weekly News Summary.
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Match Group May Break $2B Revenue in 2020
BASEBALL DAILY NEWS - Feb 25 - Equities analysts predict that Match Group will post $447 million in sales for Q1, for a year-over-year growth of 18%. Analysts expect 2019 sales of $1.72B. Match Group showed a net margin of 21.24% on $444m quarterly revenue. 8 analysts have rate the stock with a hold rating, 11 issued a buy rating, and 2 have a strong buy rating. Match Group operates a portfolio, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs, in 42 languages in 190 countries.
Lumen Is Launching in Australia
6PR - Feb 19 - Lumen, a new dating app for over 50s is launching in Australia. Charly Lester, the creator of Lumen, said there were apps for younger people and even online outlets for over 75s but singles in their 50s and 60s were missing out. The app launched in September 2018 and has already attracted 300K members worldwide.
Extra-marital Dating Platform Gleeden Claims 300K Users in India
THE ECONOMIC TIMES - Feb 19 - Primarily marketed to women - specifically those who are already in a relationship - Gleeden was launched in France in 2009 and arrived in India in 2017. Today, it has ~4.9 M registered users globally, mostly from the EU. In India, it has crossed ~300K subscribers within less than two years of its launch. Gleeden.com is run by a female team and is completely free for women users.
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Tinder Swipes Right on New Palo Alto Office
SILICON VALLEY BUSINESS JOURNAL - Feb 20 - Tinder is set to take over 30K square feet in a newly built Palo Alto office blocks. The deal represents a major Silicon Valley expansion for Tinder. Tinder currently leases about 1,733 square feet office.
Ways to Combat Competition in the Mobile App Industry
ENTREPRENEUR - Feb 22 - The app industry is one of the fastest and trending businesses in the world today with ~75% of the population being a mobile phone user, 67% of which uses smartphones. According to Statistica, an average of 6,140 mobile apps were released through the Google Play Store every day from the Q3 of 2016 to the Q1 of 2018. When asked about combating competition in the dating app industry, Melissa Hobley, CMO of OkCupid, says, "We are proud of our machine-learning based algorithms." Ishaan Sethi, Co-founder and CEO of Delta App shares that for millennials giving them the security especially on a dating app, can help win the trust of users.
The Times of India Forges Partnership With BharatMatrimony.com
EXCHANGE4MEDIA - Feb 21 - Members of BharatMatrimony can now walk into any of Times of India's network of franchisees and subscribe to BharatMatrimony's matchmaking services at a special price.
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Tinder Isn't Really Accepting Bitcoins
UNHASHED - Feb 19 - One of the crypto world's biggest Valentine's Day stories has turned out to be largely overblown. The option of buying a membership with crypto isn't actually specific to Tinder. At the heart of the story is Bitrefill, a company that sells vouchers and gift cards that can be purchased with cryptocurrency. The company accepts Bitcoin, Ethereum, Litecoin, Dash, and Dogecoin as payment. Last week, the company announced the addition of Tinder vouchers to its offerings.
Sugar Dating App SugarBook to Open Office in New Zealand
NZ HERALD - Feb 23 - SugarBook runs a sugar dating app and claims to have 10K members signed up in New Zealand. Its Malaysian creator and CEO Darren Chan, 31, wants to extend its online service to set up an office in New Zealand and Australia because of the "rising trend of sugar relationships down under". Sugarbook is being watched by police in Singapore and accused of facilitating illegal prostitution in Malaysia. Another sugar dating website, SeekingArrangement, based in the US, claimed last year to have ~50K members signed up in New Zealand.
The OPW/iDate Dating Business Insider is first and the largest weekly news summary in the dating industry. Since 2004.
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