Match Group has announced the purchase of a 51% stake in dating app Hinge.
Hinge, which includes the Tinder satire video ‘Dating Apocalypse’ in its branding, promotes itself as a serious dating site for millennials.
Hinge removed the swipe feature in September – a move which saw its user base more than treble in a short space of time.
“Hinge’s passion for the user experience and their innovative approach to dating has created a product that is highly relevant particularly among urban, educated millennial women looking for relationships,” says Mandy Ginsberg, CEO of Match Group.
“We are excited to welcome Hinge to Match Group and leverage our extensive experience to enable them to become a major player in the relationship space.”
“Our mission is to provide a culture of thoughtful dating to millennials who are looking for more meaningful, lasting connections,” added Justin McLeod, CEO of Hinge.
“While our prime focus is on creating the most effective dating service for our members, it’s now time for us to bring that service to more people in the US and abroad. We’re thrilled to have Match Group’s support and scaling expertise as we grow.”
Match Group has the right to acquire the rest of Hinge next year. Additional terms of the transaction have not been publicly disclosed.
Read more here.