Sam Yagan has appeared on Bloomberg talking about the success of Tinder.
Tinder is owned by IAC, something which Tinder have been reluctant to publicise, but recently IAC and Match Group seem more willing to let their involvement be known.
A few weeks ago IAC announced their quarterly results, which saw their dating services increase sales by 12%, revenue rising to $203.9m.
In an earnings call to investors Gregory Blatt, Chairman of Match Group, spoke about whether Tinder would soon participate in this growth, saying:
“Tinder is still very much in investment mode. And we haven’t fixed on the timing or exact nature of the business model yet.
“It’s a dating product that has taken off as fast as any I can remember. Right now, we’re focused on doing the things necessary to make sure it takes route in an enduring way, but if does, we believe it can also be a meaningful contributor down the line.”
IAC is also now listing Tinder as a brand alongside OkCupid and Match on their site.
Tinder, however, have always been evasive about their relationship to IAC, something noted by Bloomberg reporter Nick Summers when he met their team:
“I had to ask Tinder Chief Executive Officer Sean Rad over and over again before he acknowledged that IAC was not just an investor but the company’s majority owner.
“Why? For a startup, it’s a lot less sexy to have been born in a corporate research and development session than a college dorm room.”
A few days ago Tinder dropped their biggest hint yet about diversifying outside of dating, saying they were launching something “very soon that will answer some of the questions.”
With this launch on the way, and Tinder dipping their toes into advertising, it is interesting to see that IAC are beginning to step out of the shadows regarding their involvement with the app.
See Yagan on Bloomberg here: