The OPW/iDate Weekly News Summary.
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:~ TOP ONLINE PERSONALS WATCH NEWS ~:
Match Stock Rides Tinder App, Overseas Growth as Taboos Die Out
INVESTORS.COM - June 25 - Shares in Match have shot up 75% from a year ago despite Facebook moving aggressively into dating. Match stock popped 7.5% to 71.74 on the stock market today. With the gain, the company is trading less than 5% below a buy point of 75.38. The company gets nearly half its revenue from Tinder. Overseas growth in markets such as India, Japan, Taiwan and South Korea is key for Tinder and other products. In April, Match hired Ravi Mehta as its new chief product officer. Mehta had served as Facebook's product director for youth engagement. At Facebook, he helped develop Lasso, a competitor to the popular TikTok short video sharing app. Match is adding video to the Tinder app. Still, some analysts are cautious on the Match strategy. In May, Goldman Sachs analyst Michael Ng upgraded Match stock to neutral from sell.
Owner of Gay Dating App Jack'd to Pay Out for Leaving Nudes and Private Photos Exposed
GIZMODO - June 29 - Jack'd parent company, Online Buddies, did not properly secure photos uploaded using Amazon Web Services Simple Storage Service (S3), leaving the images and other data vulnerable. New York Attorney General Letitia James said that the company knew of the issue and "didn't do anything about it for a full year." Jack'd is used by ~6M men worldwide. Investigators estimated that of the app's ~7K active New York users on Jack'd between Feb 2018 and Feb 2019, ~1,900 users could have uploaded nude images. Online Buddies will pay $240K to New York as part of the settlement, which also requires a significant overhaul of its security measures. "We apologize to our users for this flaw," said a spokesperson for Online Buddies. "We worked closely with, and cooperated fully with, the New York Attorney General's office in their investigation of this matter."
HER, the Dating App for Queer Women, Revamps Profiles
TECH CRUNCH - June 26 - The updated profiles allow users to express themselves more fully in the categories of gender, sexuality, pronouns, diet preferences, star signs, drinking, smoking and cannabis habits, among others. HER has also added space for a text bio, which is very common on other dating apps but wasn't a part of Her. HER launched four years ago, rebranded from Dattch, with the intent to give queer women a space to safely and freely express themselves and meet each other. The app has 4.5M registered users, and has raised $2.5M in funding.
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Hinge Partners With Political Nonprofit to Raise Voter Turnout in 2020
FORTUNE - June 26 - Dating app Hinge is partnering with Rock the Vote, a political nonprofit organization aimed at "building the political power of young people" through voter registration and issue-based awareness campaigns. From Wednesday - the first day of the Democratic presidential primary debates - to Friday, Hinge will donate $1 to Rock the Vote for each "like" on its Rock the Vote Instagram post, up to a total of $50K.
Slow Dating App Once Launches "Once Places"
EINNEWS - June 26 - Once Places is a selection of venues especially curated for dates, from their first meet-up to their tenth anniversary. When conducting a study amongst its users, Once discovered that 69% admit struggling to find the right spot for a rendezvous. In 42% of cases, the place picked just ends up being too noisy or too crowded. And for 83% the choice of the place says a lot about people's personality.
Tinder Launches "Right to Love" Feature to Support the Equality Act
BUSTLE - June 25 - Members of the LGBTQ community still aren't protected from discrimination under federal law. But in an important move forward, the Equality Act was introduced in the U.S. House of Representatives and the U.S. Senate in March 2019. The bill passed the House in May and awaits approval by the Senate. Now, during Pride month, Tinder's #RightToLove feature encourages people to contact their senators in support of the Equality Act. Tinder's #RightToLove campaign, which includes a PRIDE Slide in New York City that will donate $10 from every trip down the slide to the Human Rights Campaign in support of the Equality Act, is a call to action to ensure everyone's rights are protected under the law.
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Cosmopolitan Is Launching a Branded Podcast With Tinder
DIGIDAY - June 26 - Tinder has approached Cosmopolitan, the women's lifestyle publisher, about "Single, Swipe, Repeat," a branded podcast about dating, hosted by Cosmopolitan relationships director Faye Brennan. Cosmopolitan was paid a flat fee to produce the show. While the publisher declined to comment on price, the going rate for a branded podcast typically begins in the high six-figure range, with more sophisticated productions costing over $1M. Cosmopolitan hopes "Single, Swipe, Repeat" will reach 78M millennials across platforms. Tinder was already a believer in branded podcasts. Back in 2016, the dating app hooked up with Gimlet’s brand studio, Gimlet Creative, to produce a similar show called "DTR," which ran for two seasons.
SAFE App Raised $3.5M to Start Showing Verified STD Results on Dating Sites
GRITDAILY - June 28 - The SAFE app, calling themselves 'the safe sex app,' just raised $3.5M from investors to partner with HUD and add a feature that will allow users to post their verified STD results. The badge is set to launch of HUD profiles on June 28th, kicking off NYC's Pride weekend. SAFE received funding from Flight Ventures, Harry Schwefel (co-CIO of Point 72), Caivis Investments (led by John Scully, former Apple / Pepsi CEO), Startup Health Ventures, and the Mayo Clinic. HUD is one of the top hook-up sites around the world.
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