Match Group CEO: more than 30% of romantic relationships now start on apps
The stigma over online dating is eroding so quickly that even the term “online dating” is now old news. Today, it’s all about apps – the mobile phone versions of your favourite dating sites like Match.com, or dedicated platforms developed specifically for mobile users, like Tinder. The owner of both those dating services (along with many others), Match Group, is growing at an unprecedented rate – and the company’s CEO was clear to point out that there’s plenty of space for that growth to continue, as the world catches up to U.S. sensibilities.
Match Group’s share price has risen by an incredible 144% over the last 12 months
SOURCE: Yahoo Finance
Speaking to the press last week, Match’s CEO Mandy Ginsberg, said that the last decade has seen a dramatic shift in how we find love and romance. Ten years ago, around 3% of relationships began online – today, that figure hovers around the 30% mark. “It’s a global phenomenon, and it keeps on growing,” she said.
Highlighting the fact that Match’s incredible growth is nowhere near petering out, Ginsberg explained: “what’s happening here in the U.S., now, is transcending across the globe, where there’s a lot higher stigma. And as that erodes we think we’re going to grow that global audience fast as well.”
Explaining that “one size does not fit all in this category,” Ginsberg said that Tinder was the most profitable service in its portfolio of 38 online brands. She was also quick to point out that the app was not just for “casual daters”. She told reporters “open up the New York Times marriage section and you’ll see Tinder weddings. People use our products for a variety of reasons.”
With targeted services available in 40 languages and 190 countries worldwide, it appears that there is no shortage of those people or those reasons.
Dominion holds Match Group in its Global Trends Ecommerce Fund.
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