UKTN - Playdate, a UK-based dating app for single parents, has raised £250K in its first external funding round after bootstrapping the business since its launch in 2021. Research from the company found that there are as many as 2.9M single parents in the UK, suggesting a potentially significant market for the app. The investment round came from the VC firm Ankh Impact Ventures, along with a series of angel investors.
This post also appears on InternetDatingInvestments.com
REUTERS - Blackstone's investment in Bumble has proved to be lucrative despite the company's decline in share price since the IPO in 2021. Blackstone bought a majority stake in Bumble in 2019, valuing it at ~$3B. Bumble's enterprise value is now closer to $4B, and Blackstone still owns 40% of its equity. The private equity firm has made back its investment and more, selling ~$2B in stock in the public offering, nabbing another $1B in a secondary offer, and receiving ~$300M in dividends. Blackstone's current stake, including a minority interest, is worth ~$2B based on public market prices.
TECH.EU - Alex Pasykov, CEO of the Hily dating app and LGBTQ platform Taimi, reflects on a difficult but rewarding year, operating his businesses in Ukraine during the Russian invasion. Despite the challenges of scaling a business during wartime, Pasykov learned the importance of setting ambitious goals, trying new things, and providing his team with comfortable working conditions. His team's ability to work creatively without electricity during blackouts demonstrated their resilience and teamwork. Pasykov and his team also volunteered in the community, providing supplies and support to those affected by the war. Pasykov encourages businesses to always have a plan for the worst-case scenario, as there are many potential threats to any business.
by Alex Pasykov
See full article a Tech.eu
ECONOMIC TIMES - Match Group is in advanced discussions with Shaadi.com for a strategic investment in the Indian company. The exact financial terms and arrangement are yet to be ascertained. Shaadi.com founder Anupam Mittal didn't respond to queries. Match Group said that it does not comment on speculation. In an interview to a business daily in Sep last year, Mittal had said the company was planning to go public in the next fiscal year. Mittal is the founder and CEO of People Group, which runs the matchmaking site.
This post also appears on InternetDatingInvestments.com
BUMBLE - Bumble, the parent company of Bumble, Badoo, and Fruitz, reported its Q4 and the full year 2022 results. In Q4, the total revenue increased 16.7% to $241.6M, while its Bumble App revenue grew 27.7% to $190.8M. Bumble App paying users grew 133K sequentially in Q4; added 502K paying users in FY22 compared to FY21. Badoo and other revenue declined 11.9% to $50.8M, compared to $57.6M. For the full year, Bumble's revenue increased 18.7% to $903.5M. However, the company's net loss for the year was $(114.1)M, compared to net earnings of $281.7M in 2021. The company's CFO expressed confidence in their ability to scale the business and deliver profitable growth in 2023.
PR NEWSWIRE - According to a new survey from Plenty of Fish, singles are focused on finding new ways to show up as their best selves and, ultimately, to make dating a better, more welcoming experience. This year, 60% of singles started improving themselves for future relationships, and 93% believe that the efforts they're making are working and increasing their chances of finding. The survey also found that singles, especially men, are becoming increasingly self-aware regarding what went wrong in past relationships, with 73% of men and 66% of women seeing themselves as the "anti-hero" or problem in past relationships.
PR NEWSWIRE - Match Group has partnered with research firm Ipsos to conduct the industry's first Relationship Report, which looks at dating trends. The report found that people recognize the benefits of dating online, with respondents rating the larger and more diverse pool of potential partners as the top benefit. Online dating is widespread across the globe, with half (49%) of singles saying they have tried dating apps and websites. Half (47%) of LGBTQ+ people who have 'ever used' dating apps say they find them to be successful, with a majority (57%) saying they have had positive experiences finding dates, in line with the general adult population. Overall, 66% of respondents who have used dating apps and websites believe that the relationships they form online are as successful, if not more so, than those that start offline.
PR NEWSWIRE - Venntro Media Group, the technology and media company behind thousands of online dating sites, has launched a new online advertising network - RedPath Media. RedPath Media is a premium online ad network offering exclusive, premium dating traffic which is proven to convert. With RedPath Media, advertisers can target millions of online dating users across thousands of online dating sites through an established network of publishers.
MARKETWATCH - Bumble is set to post its Q4 results today after the market closes. Bumble is expected to report $235.7M in revenue, up from $208.2M in the year-ago period. Bumble is expected to report $1M in net income, compared with a loss of $14.7M.
SEEKING ALPHA - Hello Group, a Chinese online social and entertainment company, is experiencing short-term pain due to the declining revenues of its key mobile apps, Momo and Tantan. The decline is attributed to both COVID and regulatory factors. However, Hello Group has introduced new mobile apps, such as Duidui, Hertz, and Soulchill, which it aims to grow in markets outside China, and which have lots of room for future growth. The revenue generated by the new apps grew by 154% YoY to RMB203m in Q3 2022. Therefore, the company is well-positioned to deliver long-term gains for patient shareholders, and its shares are rated as a Hold.
APPINIO - Jorge Bueso, Spark Networks' Senior Consumer Research and Insights Manager, collaborated with Appinio on their Hype Trackers in the US, UK, FR and ES, gaining insight into the intersection between relationships, Valentine's Day and how online dating services participate in both. People tend to seek meaningful relationships based on shared values within a like-minded community, and more than ever, online dating services help facilitate these relationships. However, the industry also faces challenges, such as red flags and ghosting, particularly for women. The report also identifies growing discussion topics such as gender identity and polyamory, which the online dating industry is expected to address for modern daters.
OPW - Edition 20 of the LTR (Love, Tech, Relationships) online experience will be on Wed 1st March at 12 noon EST (New York time). In this edition, we will hear from Paul Dolan, a Professor of Behavioural Science in the Department in Psychological and Behavioural Science at the London School of Economics, on "How To Connect With and Use Academics to Inform Your Product Strategy", followed by Ruben Buell, CEO of RealGifts, who will talk about "Monetizing dating apps via gifting".
We have a half-hour of networking on virtual tables, followed by 50 mins of presentations, and then another short networking session. 1.5 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.
Email [email protected] to RSVP.
THE DRUM - Match's new brand campaign, "Head Over Heels," features six couples who showcase how they found love through different Match functionalities. Broadcast across TV, radio and digital the campaign includes a one-minute hero film and shorter snippets focusing on a specific couple and service.
NORWAY POSTS - Happn, a dating app with 135M registered users, has launched a new feature called "Hub," which lets users take control of their love lives, filter, and evaluate compatibility. The hub is divided into four parts: Discover, Game, Explore, and Against. Discover lets users interact with new profiles. Game includes the CrushTime game to spice up the search. Explore provides access to the Map and new options to refine navigation. Against lets users filter preferences on the type of relationship sought.