The OPW/iDate Weekly News Summary.
- iDate Dating Industry Conference in London October 11-12, 2018
- iDate Dating Industry Conference in Miami January 31 - February 1, 2019http://idate2018.com
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:~ TOP ONLINE PERSONALS WATCH NEWS ~:
Momo Q2 2018 Results
PR NEWSWIRE - Aug 22 - Net revenues increased 58% YOY to $494.3M. Net income increased to $117.8M in the Q2 '18 from $60.8M YOY. Monthly active users were 108M in June, compared to 91.3M last year. Live video service revenues continued its growth momentum and the total live video service revenues were $411M with 4.6M paying users. Momo started as an online dating app and has now progressed to being a full social media company.
Match Group Investigation Started
BUSINESSWIRE - Aug 25 - The law firm of Kahn Swick & Foti has commenced an investigation into Match Group. KSF's investigation is focusing on whether Match Group breached their fiduciary duties to Match's shareholders or otherwise violated state or federal laws. On August 14, 2018, founders and current and former employees of Tinder filed a lawsuit against IAC and Match Group, alleging that they created false financial information, delayed new products and used other tactics to deliberately undervalue Tinder in order to prevent select Tinder shareholders from exercising their rights to cash in stock options worth billions of dollars.
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The Meet Group Launches Quick One-on-One Livestreaming
BUSINESSWIRE - Aug 21 - The Meet Group has launched Quick, its new one-on-one live video chat feature, to users of its MeetMe mobile app in the US. The Meet Group's video monetization now exceeds $42M a year. With Quick, users can either choose to match with another user for free or choose to be matched with users of a specific gender for a fee. In addition, similar to one-to-many livestreaming, users can give virtual gifts in Quick, which they may do to show interest to the broadcaster, break the ice or start a conversation.
Tinder Officially Announces Tinder U
SEEKING ALPHA - Aug 21 - To log in for the first time, users must provide a .edu email address and be geolocated on campus. Tinder U works the same way as the regular version but comes with an updated UI with a badge showing a user's university on their main profile picture. Tinder U is rolling out to iOS users attending four-year, accredited, not-for-profit schools in the US.
MyLife makes it easy for matches on dating sites and other marketplaces to see reputation scores and run background checks.
Bumble Users Can Now Turn Off The Dating Mode
POPSUGAR.CO.UK - Aug 21 - Bumble started as a dating app but over the years, it's become a social networking app. In October 2017, it launched Bumble Bizz for professional networking, and its Bumble BFF feature helps women forge friendships. Until now, the three features were a package deal. That all changed today, when Bumble began offering the ability to turn off dating mode.
Comedian Norm MacDonald Co-Created A Video-Only Dating App
URBAN DADDY - Aug 23 - Video dating app Loko launched this month in the US and Canada. It's a video-based dating app that places an emphasis on getting users face-to-face with a match. First, users create a video-only profile, which is an eight-second max introduction, and an optional "About Me" video, which can run up to 30 seconds. Every profile is approved by an administrator before going live. Then they'll swipe through potential matches, as they would with other dating apps. Once a connection is made, they'll have 24 hours to schedule a virtual "Elimidate" in the app. The "Elimidate" is essentially a pre-date interview: an up-to-15-minute video chat with the match.
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Matchmaking Institute CEO Arlene Vasquez Washburn Resigns
MENAFN - Aug 18 - Matchmaking Institute CEO Arlene Vasquez Washburn has officially resigned from her two-year post. In her statement, Arlene explained she wanted to put all of her focus on her passion for relationship coaching, business consulting and training of other love industry professionals. Arlene Vasquez Washburn is herself a Master Executive Certified Matchmaker and Relationship Expert who got her start in the industry in 2012 when she founded AVConnexions, a boutique matchmaking company.
Meet Group's Link-up Site Veers Into Live Streaming Video And Sees Its Stock Jump
PHILLY.COM - Aug 25 - Meet Group is like China's Momo, with its live streaming video chat. Live streaming on its Quick app now attracts ~850K of its 4M paid and premium-feature free users daily. Those subscription and "gift" payments account for a quarter of Meet Group's revenues. By the end of the year, Meet Group plans to offer a new video product, Battle, that will enable two or more competing performers to register paid gifts as signs of favor from viewers, a kind of interactive mobile America's Got Talent. Last year, Meet Group bought Germany-based Lovoo, a five-year-old, mostly European dating app funded by subscriptions, purchases and ads, for $70M in cash, plus up to $5M in sales bonuses. That purchase boosted Meet Group sales by $32M. In 2016, Meet acquired IfWe for $60M and Skout for $52M. In 2011 it merged with Quepasa, a Latin America-focused, publicly traded social-media company.
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