SEEKING ALPHA – May 4 – Match Group is up 5.6% after hours following its first-quarter earnings report, where it fairly easily beat expectations and logged double-digit subscriber gains. Revenues jumped 22.6% to $667.6M, operating income rose 38% to $189M, adjusted EBITDA gained 32% to $230M. "Exiting the first quarter, we are seeing improving trends across the portfolio," CEO Shar Dubey says, adding that the company will spend ~$100M on product, technology and moderation efforts related to trust and safety this year.
Category: Reporters – Jason Aycock
Dating Apps Gaining Ground in Socially Conservative Pakistan
SEEKING ALPHA – Aug 11 – Dating apps like Tinder look to gain some ground amid changing attitudes around casual dating in socially conservative regions like Pakistan. Dating for women is still frowned upon in the heavily patriarchal society, but attitudes are changing in the cities, where single women are increasingly using the apps to connect with partners. Most Tinder users in the country are 18-40 and come from major cities including Islamabad, Lahore and Karachi. Bumble is also gaining ground, as is Muzmatch.
by Jason Aycock
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Match Group Completes Separation From IAC
TECH CRUNCH – July 2 – Previously, Match Group was a publicly-traded company, with digital holding company IAC as its majority shareholder. Last year, the companies announced a plan that would see IAC's ownership of Match distributed to IAC's shareholders – a plan that is now completed. The separation also involves a leadership change, with Mark Stein and Gregg Winiarski stepping down from the Match Group board. The company has four new board members: ExecOnline CEO Stephen Bailey, the NBA's executive president for digital media Melissa Brenner, investor and entrepreneur Wendi Murdoch and actor Ryan Reynolds. Shar Dubey will continue to serve as Match Group's CEO, a position she took at the beginning of this year, while Joey Levin remains a both IAC's CEO and Match Group's executive chairman.
Match and Bumble Settle All Litigation
SEEKING ALPHA – June 13 – Match Group and Bumble say they've settled all litigation between the two. They're not disclosing any more information, but say they're both "pleased with the amicable resolution." Match had accused Bumble of patent infringement in March 2018, and has been accusing Bumble of "exploiting" the COVID-19 crisis to delay the lawsuit for tactical advantage.
IAC Sets up Sales of Match Group Shares for Separation
SEEKING ALPHA – June 9 – IAC has set agreements with a number of third-party investors for the sale of 17M Class M shares (at $82/share) of Match Group, in connection with the two companies' pending separation. The completion of that deal would change the Class M shares into common stock of the post-split Match.