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☆ Deckmatch uses AI to find and streamline deals for investors. Check out the 13-slide deck it used to raise $3.1 million.
▼ + stars: | 2024-11-11 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

Deckmatch has secured $3.1 million in seed funding from Alliance VC and Luminar Ventures. BI got an exclusive look at the 13-slide pitch deck the startup used to secure the funding. AdvertisementA startup that helps private market investors automate their work has secured $3.1 million in seed funding. AdvertisementDeckmatch said its $3.1 million seed round was oversubscribed. With the fresh funding, Deckmatch plans to double down on its research and development efforts.

Persons: Deckmatch, —, Leopold Gasteen, Gasteen, Walid Mustapha Organizations: Alliance, Luminar Ventures, BI, Service, Google, Business, Skyfall Ventures Locations: Norway, VCs

☆ Dating Apps Helped Me Find Love. Now They've Become a Total Scam.
▼ + stars: | 2024-10-03 | by ( Albert Fox Cahn | ) www.businessinsider.com time to read: +22 min

I spent some time alone after things ended, but by the end of 2012, I was ready to re-embrace online dating. Within a few years, my fellow millennials and I were reportedly spending 10 hours a week on dating apps. "Dating apps are designed to be a miserable experience," Stephanie Rodgers, the founder of the forthcoming dating app Verb, said. Increasingly, it feels like dating apps make things more monotonous and cumbersome to incentivize us to pay for upgrades. And while dating apps' cost in terms of harassment, threats, and violence is paid disproportionately by women, its financial cost is disproportionately paid by men.

Persons: —, I've, I'd, it's, undateable, Phil, begrudgingly, Tinder, Charlotte Fox Weber, Weber, Swiping, Koshiro, Stephanie Rodgers, Rodgers, you'll, we're, curt, It's, I'm Organizations: Congressional, New York Times, Harvard Law, Facebook, Match, The League, Upper East, Grand Central Locations: DC, Washington, Western Europe, East, Asia, Raya, Brooklyn, Americas

PARIS — Soufiane Rahimi, Ilias Akhomach, Achraf Hakimi and Mehdi Maouhoub all scored in Morocco's 4-0 thrashing of the United States on Friday, sending America packing in the quarterfinals of Olympic soccer. Duncan Mcguire reacts during the Men's Quarter Final match against Morocco during the 2024 Paris Olympic Games. Miles Robinson of USA and Achraf Hakimi of Morocco battle for the ball during the Men's Football Quarter-final match on Aug. 2, 2024 in Paris, France. Alex Gottschalk / DeFodi Images via Getty Images fileThe United States was left for dead after a 3-0 thrashing by the hosts French to start the tournament. Americans have never won a men's soccer medal in the modern era of Olympic soccer.

Persons: Rahimi, Ilias Akhomach, Achraf Hakimi, Mehdi Maouhoub, Nathan Harriel, Patrick Schulte, Duncan Mcguire, Marc Atkins, Maouhoub, Miles Robinson, Achraf, Alex Gottschalk, Louis Organizations: PARIS, Morocco's, Olympic, Parc des Princes, Atlas Lions, Morocco, Getty, USA, New Locations: United States, Parc des, Moroccan, Morocco, U.S, Paris, France, States, New Zealand, Guinea, St, Beijing

☆ Activist Starboard took a stake in Match. Here are steps the investor may take to help lift shares
▼ + stars: | 2024-07-20 | by ( Kenneth Squire | ) www.cnbc.com time to read: +8 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. On July 15, Starboard sent a letter to Match highlighting various opportunities to improve operations, financial results and capital allocation. Match's EBITDA margin of 36% may be high for an average company, but it's low for a company like Match. Starboard thinks that this is a highly valuable asset that may be well-suited to operate as a private company. Starboard is not the first activist to launch a public campaign at Match.

Persons: Russell, Bernard Kim's, Jeff Smith, Thomas McInerney, Smith, Elliott, Ken Squire Organizations: IAC, Altaba, Yahoo, Elliott Management, Anson, 13D

☆ Activist investor Starboard says it's acquired 6.5% stake in Match Group
▼ + stars: | 2024-07-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Smith has been speaking with Match management about its plans, according to the letter, which was viewed by CNBC. In the letter, Smith wrote that Tinder enjoyed enviable and viral growth for years but has been stymied of late by sluggish innovation. But if Match is unable to more broadly turn around its business, the company should consider going private, Smith said. A Match spokesperson said in an emailed statement that the company is in communication with Starboard and other investors. Starboard isn't the first activist to put pressure on Match.

Persons: Jeff Smith, Starboard's Jeff Smith, Bernard Kim, Smith, Tinder, Kim, Anson, Elliott, Salesforce, Splunk Organizations: Bloomberg Television, CNBC, Wall Street, Zynga, Elliott Management, Autodesk, Cisco Locations: New York, U.S, Tinder, GoDaddy

Stuck in dating app loop with no date in sight? A lawsuit filed Wednesday against Match Group claims that is by design. Tinder, Hinge and other Match dating apps are filled with addictive features that encourage “compulsive” use, the proposed class-action lawsuit claims. This, the suit claims, turns users into “addicts” who purchase ever-more-expensive subscriptions to access special features that promise romance and matches. It was filed by six dating app users and seeks class action status.

Persons: —, ”, “ Organizations: Match Group, Northern District of, Dallas, Facebook Locations: Northern District, Northern District of California

☆ Loneliness and inflation are pushing Gen Z away from dating
▼ + stars: | 2023-10-07 | by ( Phil Rosen | Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

Expensive dates, inflation, and loneliness are weighing on Gen Zers seeking romantic connections. AdvertisementAdvertisementBecause Gen Z grew up with Facebook, Instagram, and other social platforms, many 20-somethings have grown accustomed to instant connection. To that point, dozens of Gen Zers told Insider they're putting more effort into friendships and nonromantic social events to combat loneliness. Inflation hovered at 3.7% year over year in August, nearly double the 2% rate policymakers want, and it's weighing on Gen Z wallets. "Gen Z wants to find people in natural, organic contexts as friends first, and if something romantic happens, that's great," Lerner said.

Persons: Zers, Gen Zers who'd, —, Marianne Simpson, she'd, Simpson, Vivek Murthy, Z, Kellie Ammerman, Ammerman, Karin Kimbrough, LinkedIn's, Tinder, Bumble, Taylor Price, Price, daters, Gen, Cliff Lerner, Gen Z, Lerner, Andrew Yeung, Yeung, Maxine Williams, Williams, We're Organizations: Service, New, Facebook Locations: New York City, America

☆ An AI dating app claims to find your perfect match using only your face
▼ + stars: | 2023-10-01 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

SciMatch is a dating app that claims to use social science and AI to match compatible partners. Rather than create an entire dating profile, all the app requires is one selfie from users. AdvertisementAdvertisementA dating app is claiming to use AI-powered facial recognition to help users find love. Instead of filling in a full dating profile, SciMatch just asks users to upload a single selfie, The Wall Street Journal reported. For example, Tinder has announced a tool to help users select the best photos for their profiles.

Persons: —, SciMatch, Yanina, Viktoryia Strylets, It's, Yanina Strylets, Paul Eastwick, Davis, Tinder Organizations: Service, Street Journal, University of California, Match

☆ Unstoppable Martinez scores four as Inter cruise past Salernitana
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +3 min

Inter captain Martinez has now scored nine goals in seven Serie A matches and holds a clear lead as the league's top scorer. While Inter dominated the match's early stages, Salernitana gradually found their footing and managed to control the tempo in a goalless first half. Martinez opened the scoring for Inter in the 62nd minute when he expertly collected Marcus Thuram's low cross into the box and delicately chipped the ball over Salernitana keeper Guillermo Ochoa. Martinez completed his hat-trick from the penalty spot with five minutes remaining, after a foul by defender Matteo Lovato, who had pulled Thuram's shirt. Inter host a Champions League group-stage match against Benfica on Tuesday, followed by a Serie A home game against Bologna next Saturday.

Persons: Stadio, Inter Milan's Lautaro Martinez, Alberto Lingria, Lautaro Martinez, Martinez, Marcus Thuram's, Guillermo Ochoa, Mateusz Legowski's, Nicolo Barella, Matteo Lovato, Carlos Augusto's, Simone Inzaghi, Tommy Lund, Toby Davis, Clare Fallon Organizations: Soccer, Salernitana, Inter Milan, Stadio Arechi, Inter Milan's, Rights, Serie, Inter, Milan, Lazio, Sky Sport Italia, Champions League, Benfica, Bologna, Thomson Locations: Salerno, Italy, San Siro, Gdansk

Not when match point after match point went by the wayside. Gauff, a 19-year-old from Florida, reached her first final at Flushing Meadows by defeating Muchova 6-4, 7-5 on what was anything but an ordinary evening. When action resumed, the play was pretty even for several games, until Gauff surged ahead and got her first match point. — Gauff deserved credit for finding the right times to let Muchova miss as opposed to trying to get too aggressive. “You have to be focused and finish points," Muchova said about the challenge that facing Gauff presents.

Persons: — Coco Gauff, Karolina Muchova, It’s, Muchova, raucously, Alison Hughes, Gauff, ”, Serena Williams, “, ” Gauff, —, Sabalenka, Roland Garros, — Gauff Organizations: U.S, Gauff, Wimbledon, Madison Keys, AP Locations: Florida, Flushing Meadows, Gauff, New York, Belarus, Czech Republic

☆ Dating apps like Tinder and OkCupid are hoping new AI features will help you land a date by choosing your profile picture and best matches
▼ + stars: | 2023-08-03 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Match Group, the company behind Tinder and Hinge, announced it's adding new AI features to its apps. Match didn't specify which of its apps could include the AI features. One of the AI features could explain why the app recommended a match to the user. A screenshot of Match Group's AI concepts for its new AI features. Some app users are already using AI to improve their dating lives.

Persons: Tinder, Bernard Kim, Kim, Mark van Ryswyk, Salvatore Damiata Organizations: Artificial Intelligence Locations: Match's

☆ Match Group shares can rally 30% thanks to a recovery in Tinder, says BTIG
▼ + stars: | 2023-08-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Match Group shares are set to pop as Tinder recovers, according to BTIG. "Tinder hit a wall last year," with growth slowing into 2023, analyst Jake Fuller said. "MTCH pointed to execution issues and lack of product innovation, which led to a revamping of the Tinder team. Management's current-quarter guidance also came above analyst estimates. The analyst noted that Tinder is showing an improving trend in its daily new users numbers and reactivation trend.

Persons: Tinder, Jake Fuller, Fuller, Management's, — CNBC's Michael Bloom

☆ Tinder-parent Match sees third-quarter revenue above estimates on strong user growth
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

The company forecast revenue between $875 million and $885 million for the third quarter. It posted adjusted operating income of $301 million in the second quarter, compared with market estimates of $278.5 million. Match said Tinder's "It Starts with a Swipe" campaign was crucial in lifting new user signups, particularly among young women. It also said there has been strong demand for its weekly subscription packages, which benefited Tinder's revenue. The company posted a revenue of $830 million in the second quarter, compared to analysts' estimate of $811.4 million, according to Refinitiv IBES data.

Persons: Akhtar Soomro, Tinder, Akshita Toshniwal, Akash Sriram, Pooja Desai Organizations: REUTERS, Thomson Locations: Bengaluru

☆ ATP roundup: Frances Tiafoe wins thrilling Stuttgart final
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

[1/5] Tennis - ATP 250 - Stuttgart Open - Tennis Club Weissenhof, Stuttgart, Germany - June 18, 2023 Frances Tiafoe of the U.S. celebrates with a trophy after winning the Stuttgart Open in the final against Germany's Jan-Lennard Struff REUTERS/Angelika WarmuthJune 18 - Third-seeded Frances Tiafoe survived a championship point and outlasted home favorite Jan-Lennard Struff to win the Boss Open title 4-6, 7-6 (1), 7-6 (8) on Sunday in Stuttgart, Germany. He withstood 28 aces from Struff and finished with 36 winners and just four unforced errors. Struff ripped 56 winners with 13 unforced errors and recorded the match's only service break in the seventh game of the opening set. 6 seed Tallon Griekspoor rallied to beat Australian Jordan Thompson 6-7 (4), 7-6 (3), 6-3 to win his second career title in 's-Hertogenbosch, Netherlands. Griekspoor saved five of seven break points and finished the 2-hour, 35-minute match with a narrow 108-107 edge in total points.

Persons: Frances Tiafoe, Germany's Jan, Lennard Struff, Angelika Warmuth, Tiafoe, Tallon Griekspoor, Jordan Thompson, Griekspoor, Thompson Organizations: Weissenhof, Stuttgart, Lennard Struff REUTERS, ATP, Struff, Dutchman, Thomson Locations: Stuttgart, Germany, Netherlands, Maharashtra, India

☆ ATP roundup: Frances Tiafoe reaches Stuttgart final
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: +1 min

[1/4] Tennis - ATP 250 - Stuttgart Open - Tennis Club Weissenhof, Stuttgart, Germany - June 17, 2023 Frances Tiafoe of the U.S. in action during his semi-final match against Hungary's Marton Fucsovics REUTERS/Angelika WarmuthJune 17 - Third-seeded Frances Tiafoe survived a marathon tiebreak and Germany's Jan-Lennard Struff rallied from a set down to set up Sunday's Boss Open final in Stuttgart, Germany. Tiafoe defeated unseeded Hungarian Marton Fucsovics 6-3, 7-6 (11) and Struff upended No. 4 seed Hubert Hurkacz of Poland 3-6, 6-3, 6-3 in Saturday's semifinals of the ATP 250 grass-court event. Tiafoe survived six set points during the tiebreak, withstood 14 aces and never faced a break point against Fucsovics. Griekspoor saved all four break points and posted nine aces.

Persons: Frances Tiafoe, Hungary's Marton Fucsovics, Angelika Warmuth, Germany's Jan, Lennard Struff, Tiafoe, Hungarian Marton Fucsovics, Hubert Hurkacz, Struff, Hurkacz, Jordan Thompson, Tallon Griekspoor, Thompson, countryman Rinky Hjikata, Finland's Emil Ruusuvuori, Griekspoor Organizations: Weissenhof, Hungary's Marton Fucsovics REUTERS, Hungarian, Fucsovics, Libema, Thomson Locations: Stuttgart, Germany, Poland, Saturday's, Sunday's, Netherlands

☆ Stocks making the biggest moves premarket: Starbucks, AMD, Pearson, PacWest & more
▼ + stars: | 2023-05-03 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in premarket trading. AMD — The semiconductor stock fell more than 7% in premarket trading after quarterly results a day earlier. PacWest's shares fell 4.6% in premarket trading after sliding nearly 28% on Tuesday. Biogen reported earnings last week, notching an adjusted $3.40 per share while analysts polled by StreetAccount forecasted $3.28. The online dating company reported first-quarter earnings that topped analysts estimates from Refinitiv after the bell Tuesday.

☆ Match Group CEO spent $50,000 on 'Clash of Clans' in 3 months: 'I still look back at that with lots of shame'
▼ + stars: | 2023-03-16 | by ( Grace Mayer | ) www.businessinsider.com time to read: +2 min

CEO of Match Group Bernard Kim spent $50,000 on the mobile gaming app Clash of Clans. Speaking at a dating summit, Kim said the rewards of mobile gaming don't compare to those of of online dating. Kim was previously steeped in the mobile gaming industry as the president of mobile gaming group Zynga, known for creating Words With Friends. Like mobile games, many dating apps — including those in Match's portfolio — offer in-app purchases, including a new $50-per-month Hinge subscription. "I've personally spent $50,000 in three months in 'Clash of Clans,' and I still look back at that with lots of shame," he added.

☆ Hinge's new $50-per-month subscription for serious daters is here
▼ + stars: | 2023-02-17 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Hinge rolled out a new pricier subscription tier that will cost $50 a month, or $600 annually. The new level will offer premium capabilities to boost premium subscribers' exposure on the app. Another Match-owned dating app, Tinder, is testing a $500-per-month membership, though it is unclear what it will offer. For example, subscribers to the new premium tier will have their profiles and likes boosted so they are seen sooner by other users. The company also offers a free version of its dating app that allows up to 8 profile likes per day.

While a tough economy and a stronger dollar had also crimped its business, poor product execution at Tinder was the "significant" culprit, Match said. Match reaffirmed its 2023 revenue growth forecast of 5% to 10%. It expects revenue growth to reach double digits by the fourth quarter on increasing momentum in the second half. The company forecast first-quarter revenue between $790 million and $800 million, lower than analysts' estimates of $817.3 million, according to Refinitiv data. Revenue fell 2% to $786 million in the fourth quarter ended Dec. 31, also missing expectations of $787.3 million.

☆ Hinge is testing a subscription for 'highly motivated daters' that costs up to $720 a year
▼ + stars: | 2023-01-17 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Hinge is rolling out a new pricier subscription tier that will cost up to $720 annually. Another Match-owned dating app, Tinder, is testing a $500-per-month membership, though it is unclear what it will offer. The new, pricier subscription is targeted at "highly motivated daters," the company said, and will offer enhanced capabilities to boost premium subscribers' exposure on the app. For example, the premium subscription includes access to more tailored profile recommendations and having your "likes" appear faster than non-premium users. The company also offers a free version of its dating app that allows up to 8 profile likes per day.

☆ Philip Morris wins 83% stake in Swedish Match, goes ahead with $16 bln takeover
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

Nov 7 (Reuters) - Marlboro maker Philip Morris International (PMI) (PM.N) said on Monday it was going ahead with its $16 billion plan to buy Swedish Match (SWMA.ST) despite winning accept from owners with no more than 82.59% of shares in the Swedish peer. By Swedish law a bidder can only initiate a compulsory redemption of remaining shares if voluntary acceptance is above 90%. PMI in May made an offer to buy Swedish Match for 106 crowns per share, valuing the company at $16 billion. In October it raised the bid to 116 crowns per share after some investors said it was too low. "We look forward to welcoming Swedish Match's employees and leading oral nicotine portfolio into the PMI family," the U.S. firm said.

The deadline for shareholders to tender shares in support of the bid was 1600 GMT on Friday. Protean Funds had said previously it wanted to fight for Swedish Match and thought PMI's bid undervalued the company. It is still not known what activist investor Elliott Management, which owns over 10% in Swedish Match, has done. Under Swedish law, PMI needs 90% of shareholders to agree to the deal to get full control of Swedish Match. PMI bid lights up Swedish Match stock($1 = 10.9446 Swedish crowns)Reporting by Marie Mannes; Editing by Jane Merriman, Josephine Mason, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Morgan Stanley says online dating stock Match is one of the best stories heading into 2023
▼ + stars: | 2022-11-03 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Match, the company behind dating platforms such as Tinder, Hinge and OkCupid, is worth loving – even during its current troubles, Morgan Stanley said. Analyst Lauren Schenk reiterated Match as overweight, saying it's at an attractive entry point despite disappointing market performance this year. One point of concern for Match is its fourth-quarter outlook, the analyst said, as the guide was slightly softer than expected. She said Morgan Stanley's estimates on 2022 and 2023 revenue and EBITDA remain largely unchanged. However, with the stock down 65.4% this year, Schenk did note there was multiple contractors driving down performance.

☆ Tinder parent delivers stellar quarter as more people pay to find right match
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

The company, however, forecast flat growth in fourth-quarter revenue for Tinder. Match plans to tackle the slowdown with reductions in headcount-related expenses and marketing spend and expects to have flat margins in 2023. Shares of the company were trading at $51.21 in extended trading. read moreMatch forecast fourth-quarter revenue between $780 million and $790 million, below market estimates of $809.2 million, as it expects to take an additional $14 million hit from a stronger U.S. dollar than it had previously expected. The company added that a search was ongoing for Tinder CEO, a position vacant since the sudden departure of Renate Nyborg in August.

Chicago-based Framtiden Partnerships, a Swedish Match shareholder for nearly two decades, told Reuters on Wednesday that it opposes Philip Morris' (PMI) proposed takeover of the Stockholm-based company. According to Euromonitor International, Swedish Match controls about half the world's market for snus - a Swedish-style snuff that is moist and smoke-free. Swedish Match has a fragmented ownership base, he said, making it difficult to get a clear overview of how many will accept the deal. 'THREE SHAREHOLDER CAMPS'John Hempton, co-founder of Sydney-based Bronte Capital, is another Swedish Match shareholder who hopes the deal will fall through. The largest shareholders of Swedish Match, which include Wellington Management, Capital Group, BlackRock and Vanguard, all declined to comment on the deal.

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