Vox has covered the Match Group company story following the online dating corporation’s 100% acquisition of Hinge.
The article ran with the headline “Nearly all of the big dating apps are now owned by the same company”, but later mentioned the failed Bumble takeover attempt and resulting lawsuits.
It was also revealed that Tinder subscribers are up 1.2 million year-on-year to a total of 4.3 million, bringing in $805 million worth of revenue in the last 12 months.
Hinge once considered Tinder as its biggest competitor, but since it has been under the same parent company its sights are now focused on overtaking the Badoo-owned Bumble. It was downloaded 30% as much as the female-first dating app during 2018.
Facebook Dating began testing in Colombia in September before expanding to Canada and Thailand two months later. Vox describes the new venture as “undoubtedly the only new project in the space that could threaten Match’s dominance”.
Match Group’s stock immediately dropped by a quarter after the initial announcement, but thanks to Mark Zuckerberg’s slow roll out, the price had already recovered to an all-time high by the time the service was available in South America.
Read the full article here.