Dating Pro Digest: Tinder Launches Video Chats This Year; Match Stock Gains After Subscriber Trends Stabilized; Facebook To Give $40M Grants To Small Businesses
Good morning, my friends
Dating industry news digest for today:
- Tinder will launch in-app video chats later this year
- Match stock gains after company says Tinder subscriber trends stabilized in April
- Facebook to give $40M in grants to help small businesses
Tinder will launch in-app video chats later this year
Tinder group announced that they plan to release and in-app one-on-one video chat this year.
According to team’s insights, they are working on features to protect users from illicit images.
“We are confident that demand for human connection will never dissipate and remain committed to fulfilling that need,” the company said in its earnings note. “This period of social isolation would have been much more dire for single people – who no longer have other avenues to meet and connect such as bars and concerts – if not for our products.”
Match stock gains after company says Tinder subscriber trends stabilized in April
Match shared its revenue results for Q1 where it’s evident that subscriber trend, that went don in March, reverted back to regular numbers in April.
Revenue in Q1 2020 went up to $545M, while Q1 2019 was $465M.
Match said Tinder subscribers averaged 6 million in the quarter, compared with an average of 5.9 million in the December quarter. Match saw the average number of daily messages sent across its products rise 27% in April relative to the last week of February.
Facebook to give $40M in grants to help small businesses
Facebook plans to give away $40 million in grants for small businesses to help them go through Covid situation.
Small businesses in 34 locations where Facebook employees live and work will be able to receive the grants.
Facebook’s COO Sheryl Sandberg said: “In this challenging time, when information is changing daily, we are listening to and learning from scores of small businesses to understand what they need now and what they will need down the road. The COVID-19 pandemic has hit small businesses everywhere. Suddenly and, through no fault of their own, many simply can’t do business, and for others it has become much, much harder because customers are doing the right thing and staying at home.”
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