Match Group will respond to a recent surge in traction for one of its dating apps in India, and accelerate its launch in the country, its top executive said.
Organic traction for its dating app Hinge is exceptionally strong in quite a few untapped international markets and it has huge potential globally, the company said.
“Hinge’s growth trajectory is on track as we expected,” Shar Dubey, chief executive of the Match Group, said.
“We’ve seen a recent surge in organic traction in India without any localisation. So, we want to respond to these types of positive signals, and we are accelerating our launch in India as we’ve always thought this is a pretty interesting and attractive market for a high intent app,” Dubey told analysts during its post-results call on Wednesday.
She added that much of the international contribution – at least from a revenue perspective – will likely happen this year.
The app is on track to launch in its first non-English speaking market, Germany, in the second quarter.
The dating app firm reported $799 million in revenue in the March quarter, from $668 million a year earlier, but missed analysts’ estimates.
Dubey is stepping down as chief effective on May 31. Bernard Kim, president of social video game services firm Zynga, will take over as CEO, the company said.
Kim has been pivotal “in the company’s expansion to new markets such as blockchain and hyper-casual gaming,” and has helped Zynga branch into new platforms, including Snapchat and Nintendo’s Switch console, the company said.
Match also said its second quarter growth outlook assumes that it would implement Google’s payment system policy change that comes into effect from June 1.
The impact of this change would be about $6 million a month and so, for the seven months starting June 1, the total would be about $42 million on top of about $100 million that Match Group is already expected to pay Google.
“We are currently evaluating our legal and other options to avoid the significant disruptive effect their policy change will have on our consumers,” said Gary Swidler, chief operating as well as chief financial officer, on the earnings call.