PR NEWSWIRE - May 14 - Mingle2, a free online dating platform, will now empower its 39M members with the ability to check the identities and background information of all matched members with its new integration of RealM. RealMe provides one-click access to its extensive database of ~275M Reputation Profiles, which include background information, such as criminal and court records, sex offender status, marital status, lawsuits, and personal reviews.
Mingle2 Integrates RealMe Safety Feature
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Krafton Acquires Korean Dating App 'Between'
KOREATECHDESK - May 14 - Krafton, the Korean game startup known for its game PUBG (PlayerUnknown's Battlegrounds), is acquiring 'Between,' a Korean dating app from Socar subsidiary mobility startup VCNC. The amount of the acquisition deal has not been disclosed. Krafton, which is about to go public in H2, is expected to increase its valuation by diversifying its business. VCNC's Between division will be integrated into a newly established subsidiary 'Between Us' by Krafton in March by June. Between is a messenger app for couples developed by VCNC CEO Park Jae-wook in 2011. The app, free to download, lets couples chat, plan dates, share their favorite photos & videos, make voice calls, track anniversaries and special dates, etc.
See full article at KoreaTechDesk
This post also appears on InternetDatingInvestments
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Seniors Are Using Dating Apps and Tinder Leads the Pack
FORBES - May 14 - According to a new survey conducted by Choice Mutual, an independent insurance agency, seniors are increasingly turning to dating apps. The study found roughly a third of seniors who have dated within the last five years have turned to dating apps for help and according to Choice Mutual many have found success. 66% of those using dating apps had a relationship with someone they met through the platform. 35% used Tinder, followed by Match.com (28%), Hinge (25%), Plenty of Fish (25%) and Bumble (24%).
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Video: Bumble CEO on Q1 Earnings
YAHOO FINANCE - May 14 - Whitney Wolfe Herd, Bumble Founder & CEO, joined Yahoo Finance Live to discuss the company's latest earnings report and her outlook. "We are absolutely operating for the long term. We have a great business. The fundamentals are there. They have been there. And I'm completely comfortable being underestimated. It's been a big part of my career so far. And it's a motivator, but we are all super focused on the future", she said.
by Seana Smith & Melody Hahm
See full article at Yahoo Finance
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Bumble Shares Fall Sharply After Q1 Results, Dipping Below IPO Price
CNBC - May 14 - Bumble's stock dipped ~17% to hit an all-time low of $38.91 apiece. The company reported first-quarter results on Wednesday and issued what some analysts considered cautious guidance. "We are being cautiously conservative due to the nature of the pandemic ... none of us can predict what happens later this year around the globe," CEO Whitney Wolfe Herd said. "The company isn't signaling we don't believe in the strength of our business," she added.
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Sober Dating Sees Spike with Loosid Reporting 1.5M Interactions
ACCESSWIRE - May 13 - The demand for sober dating is on the rise as the top sober social network in the U.S., Loosid app, hits ~1.5M dating interactions on its platform. Loosid allows sober singles to interact without judgement and meet like-minded people. The app was recognized by Fast Company as one of the World's Most Innovative Companies of 2020.
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Bumble's Q1 Results: Revenue up, Paying Users up 30%
GLOBE NEWSWIRE - May 13 - Q1 revenue increased YOY to $170.7M (Bumble $112.6M, Badoo $58.1M). Total Paying Users increased 30% YOY to 2.8M, compared to 2.2M. Adjusted EBITDA was $46.1M, compared to $12.7M last year. The operating Q1 loss is $112.4M, compared to $53M in Q2 2020. Bumble anticipates revenue and adjusted EBITDA for the Q2 and year ending Dec 31, 2021 to be:
- Q2 revenue in the range of $175 to $178M, adjusted EBITDA in the range of $42 to $44M.
- Full year 2021 revenue in the range of $724 to $734M, adjusted EBITDA in the range of $177 to $182M.
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Match Releases 2021 Summer of Love Survey
PR NEWSWIRE - May 13 - Match surveyed ~2K of its single users on what kind of "hot" summer they're really looking to have. 70% are ready to put themselves out there as much as possible this coming summer. 69% feel more confident in who they are looking for after the past year. 40% feel more excited about the idea of meeting new people through dating. 52% are worried potential matches won't be looking for a serious relationship over the next few months. 71% want to be in a serious relationship this summer, while only 7% don't.
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Facebook Couple-Focused App 'Tuned' Is Now Available for Beta Test
TECH TIMES - May 13 - Facebook's newest app "Tuned" which is made for couples is now up for all Android users. It was in April 2020 when Tuned was introduced as a fancy-looking site. At the time, it was only exclusive to iOS users in the U.S. and Canada. Now, the couple-friendly app works like a virtual room for couples. It features a chat room, as well as the permission to utilize the shareable music and photos with each other. Tuned can be compared to other couple-centered apps such as Couply and Between.
by Joseph Henry
See full article at Tech Times
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The Lox Club: a Dating App for Picky Jews
CBS MIAMI - May 13 - Lox Club is a new dating app. Its creator calls it an "exclusive dating app for Jews with ridiculously high standards." The app was created by Austin Kevitch, a 29-year-old product designer who was going through his own dating issues. The Lox Club has real-life, modern-day matchmakers. Kevitch said what's also different about the Lox Club from other dating apps is its thorough membership vetting and the curating of the connections. He started it five months ago and membership is booming. "We have ~50K members on our waiting list." The annual membership fee for the Lox Club runs $96. It's $60 for six months.
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Chinese Online Dating App Soul Seeks to Raise $100M in U.S. IPO
CAIXIN GLOBAL - May 12 - Tencent-backed social media app operator Soulgate is seeking to raise an initial target of $100M in an IPO in the U.S., betting investors will buy into the growth story of its networking features even as it continues to lose money. Soulgate, whose dating and chatting app Soul targets adults under 30, says it would spend the proceeds mainly on developing its AI, big data capability and technology infrastructure, as well as brand marketing and promotional activities to grow its user base. Soul launched in November 2016, matching users to like-minded individuals online via AI after they take a personality test and list their interests. 74% of its average daily active users (DAUs) are under 30. Soulgate is yet to turn a profit with losses expanding last year to 600.9M yuan ($92.1M), from 348.7M yuan in 2019. In the first quarter of this year, the company's net loss ballooned sixfold YOY to 409.6M yuan. However, the company has posted steady revenue growth, recording 498M yuan ($77M) in total revenues last year, up from 70.7M yuan ($12M) in 2019.
by Timmy Shen & Qian Tong
See full article at Caixin Global
This post also appears on InternetDatingInvestments
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Dating Revenues Give ProSiebenSat.1 Optimism
BROADBAND TV NEWS - May 12 - ProSiebenSat.1 Group has increased its full year outlook and revenues after a good first quarter. The German TV operation's adjusted EBITDA came out better than expected at €143M. While Entertainment revenues were down by 8%, the Dating segment played a key role following the integration of US online dating company The Meet Group.
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The Meetery Dating App Eliminates Endless Swiping and Messaging
BIGEASYMAGAZINE - May 12 - Two New Orleans women are hoping to change the dating game with their new app The Meetery. The app works in a similar way to other dating apps in that you view other people's profiles, and either swipe yes or no on them. However, then things take a unique turn. There is no chat feature. After users match, their only option is to go on a date or dismiss them.
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Bumble's CEO Says Pandemic Transformed Online Dating
WALL STREET JOURNAL - May 12 - Dating has been transformed during the Covid-19 pandemic as people world-wide embraced online connections more than ever, according to Whitney Wolfe Herd, CEO of Bumble. Instead of connecting, chatting and then meeting in person, many Bumble users in the past year decided to meet over video first before seeing each other in person, introducing a new step to online dating dynamics. Ms. Wolfe Herd said Bumble planned to introduce more features for users that enable them to fine-tune their preferences. She said while the pandemic had shifted many processes in business and consumer habits, the need for relationships is a constant. "We all need connection," she said. "This is something that is never going away."
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Announcing LTR Edition 8
OPW - May 11 - LTR stands for Love, Technology, Relationships. Think of is as an online TED for leaders of Internet dating companies and online social communities. This is where we meet, learn, and share.
LTR Edition 8 is on Thursday 20th May starting 11:30am EST (New York). We have a half hour of networking on virtual tables, three world-class speakers for 20 mins each plus a few mins Q&A, and then a final half hour of networking. 2.5 hours all-in.
If you hold a full time leadership role at an Internet dating company then you are welcome to join IDEA for free, and welcome to join LTR events for free. See the LTR Edition 8 overview, speakers and invite page here. Email mark@courtlandbrooks.com to RSVP for LTR. There are 80 places only.
LTR is kindly sponsored by RealMe, vPaaS by Meet Group, Real Gifts, and Courtland Brooks
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