DALLAS BUSINESS JOURNAL – Jan 22 – The price target for the company's stock rose to $169 from $157. Match is benefiting from growing demand for its services as more folks retreat to their smart phones instead of hitting bars and restaurants. The company saw double-digit revenue growth in the Q3. Morgan Stanley highlighted the potential for Tinder. It said its "Mobile App Download" tracker pointed to an increase of Tinder subscribers of 320K, or 17%, in the Q4 compared to the firm's estimates of 280K and a consensus for a jump of 250K. Hinge should show growth of about three-fourths.
Category: Reporters – Brian Womack
Match Group Placed on Nasdaq-100 Index
DALLAS BUSINESS JOURNAL – Dec 15 – Match Group is joining the Nasdaq-100 Index, which will become effective prior to market open on Dec. 21. The move puts Match among a list of the 100 largest non-financial companies on the Nasdaq Stock Market. It's an index that acts as a benchmark for financial products such as options, and gets attention in the financial press for market watchers. Shares of the company are up ~35% in the past three months, outpacing the gains of the Nasdaq-100 of ~10%.
Match Not Seeing ‘Much of an Impact’ From Facebook as Company Invests in Video
DALLAS BUSINESS JOURNAL – Oct 21 – "While we're watching to see what Facebook does do, it doesn't actually change much of our strategy," says CEO Shar Dubey. The company is investing in video. "I have personally been a huge believer in the power of video in sort of bridging the gap between online messaging and then the first time you actually go on a date with someone," Dubey said.
Online Dating Is a Growing Industry But 2021 Will Be Tougher
DALLAS BUSINESS JOURNAL – Aug 25 – Dating-app users are set to jump by 18% in the U.S. this year to ~26M, according to eMarketer. That comes after a gain of less than 7% in 2019. Still, eMarketer pointed to a slower future after the pandemic of 2020. The number of American users is set to decline in 2021 by 8%.
Match Group Criticizes Apple
DALLAS BUSINESS JOURNAL – Aug 18 – Match Group has come out against Apple, which has found itself in the crosshairs of Epic Games. The maker of the popular Fortnite title sued Apple after it was removed from the App Store. "We fully support Epic Games' efforts today to show how Apple uses its dominant position and unfair policies to hurt consumers, app developers and entrepreneurs," a Match spokesperson said in a statement. "Regulators across the globe have expressed similar concerns and are examining Apple's arbitrary practices." Epic Games said Apple is keeping prices high so it can collect 30% of consumer payments made in apps, such as Fortnite, and is being blocked so it can't pass on the savings from direct payments. In addition to Apple, Epic also is suing Google after Fortnite was removed from the Play Store.
IAC Considering Spinoff of Match Group
DALLAS BUSINESS JOURNAL – Aug 8 – IAC is mulling the move for Match Group, which is publicly traded, along with ANGI Homeservices, according to a shareholder letter from IAC CEO Joey Levin. "We don't yet know where that process will lead – there's lots of work to be done and details to consider – and we may ultimately choose to spin off both, one or neither," Levin said in the letter. IAC's economic ownership interest in Match 80% and its voting interest was ~95%. The decision should be reached in the coming months.