The OPW/iDate Weekly News Summary.
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:~ TOP ONLINE PERSONALS WATCH NEWS ~:
Momo's Financial Results: 2018 Annual Revenue ~$2B
PR NEWSWIRE - Mar 12 - Q4 2018 net revenues increased 50% YOY to $559M. Net income increased slightly YOY to $96M. Monthly Active Users ("MAU") on Momo app were 113.3M in Dec 2018, compared to 99M in Dec 2017. Total paying users, including 3.9M paying users of Tantan were 13M, compared to 7.8M in Q4 2017. Live video service revenues were $430M in the Q4 2018, up 36% YOY. Annual revenues increased 51% YOY to $1,950M. Net income was $409.5M, up from $320M.
Tinder No Longer Uses Elo 'Desirability' Score
THE VERGE - Mar 15 - RIP to the mysterious Elo score. Tinder published a blog post on the subject. The Elo score ranked people by attractiveness. The more people that swiped right the higher their score. The most desirable people interacted with one another. "Today, we don't rely on Elo, though it is still important to consider both parties who Like profiles to form a match." Tinder adjusts potential matches a user sees every time someone acts on his or her profile, it says. It sounds like Tinder uses something similar to the Gale-Shapley algorithm, or the algorithm Hinge has said it uses, which identifies patterns around likes. If I like one guy, and so does another woman on the platform, she and I might have the same matching taste. If she's liked someone on the platform that I haven't seen yet, Tinder could show me that profile in the hopes that I might like it, too.
Dating App Grindr Turns 10
GLOBAL NEWS - Mar 17 - Grindr was launched in March of 2009 and now has millions of daily users. The app's rise in popularity is no big surprise, as it turns out online dating in general has become the most popular way to meet people, especially within the LGBTQ community. New research from Stanford University and the University of New Mexico says ~70% of American same-sex couples who met recently did so online.
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Momo Predicts Big Growth in Eastern Markets for Its Dating App Tantan
KR ASIA - Mar 14 - The founder and CEO of Chinese location-based social app Momo, Tang Yan, said the company will pursue opportunities in overseas markets for its dating app Tantan. Momo acquired Tantan last May in a $735M cash and stock swap deal. Tantan is one of the top ten social apps on Android in Nepal, Singapore, Indonesia, and the Philippines, with ~10M installs. Tantan had 3.9M paying users in the Q4 2018.
Tinder Offers Up to $1M in Free Ads to Nonprofits
SWIPE LIFE - Mar 13 - Tinder we'll be offering up to $1M in in-app advertising to worthy nonprofits. These ads will appear in front of millions of Tinder users and provide companies with the opportunity to donate and volunteer. In honor of International Women's Day, Tinder launched ads from its first partner, She's the First, an organization dedicated to fighting gender inequality through education. Previously, Tinder donated ~$20K to She's The First as part of #FundHerCause campaign.
BharatMatrimony Rolls Out a New Safety Feature for Women
OPW - Mar 13 - On Women's Day, BharatMatrimony launched 'SecureConnect', a new calling feature that enables women to receive calls from male members, who have a premium membership, without revealing their contact number.
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Bumble Is Launching a Podcast to Help People Unsubscribe From Negativity
STANDARD.CO.UK - Mar 14 - Bumble's new show Unsubscribe is about empowering its listeners to remove the negative things in their lives. It is hosted by the app's international VP of marketing and communications, Louise Troen, and mental health and body activist Jada Sezer. Produced by Sony 4th Floor Creative Group, each episode will feature conversations with different guests about being mindful of the effects of our emotions and practices.
Time Out Singapore and Paktor Group Partner for a Dating Event
MARKETING MAGAZINE - Mar 13 - Time Out Singapore has collaborated with dating agency Paktor Group's GaiGai to increase brand awareness of its product offering by hosting a dating event called "Find Me a Blind Date". Both Time Out Singapore and Paktor Group will also be presenting this event, while Winestone at Novotel Singapore is the exclusive venue and F&B partner.
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