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2
min read
· Posted on
February 21, 2024

Investors and Gen Z are swipin' left on Tinder after some disappointing results

Tinder's parent company Match Group's latest earnings are a little disappointing, so the dating app is pulling back.

What's the key learning?

  • Match Group's revenue for the last quarter was US$795 million - a fair bit less than expected
  • Tinder's ditching its plans to adopt a virtual currency and pressing pause on metaverse dating
  • The younger generations may have lost their appetite for dating apps

👉 Background: In 2012, Tinder became the gateway dating app for millions and millions of young singledoms. It originated the swipe-system for sorting through prospective matches (and 55 billion matches made strong).

👉 What happened: Now, Tinder’s parent company Match Group’s latest earnings are out and they’re a lil' disappointing. Match’s revenue for the latest quarter was US$795 million - a fair bit less than expected.

👉 What else: Tinder's response to these numbers can be summed up in two words: pulling back! It's ditching its plans to adopt a virtual currency and pressing pause on metaverse-based dating.

What's the key learning?

💡Real world experiences continue to win out over digital experiences in this post lockdown world.

💡Based on Tinder’s latest update, it appears the younger generations may have lost their appetite for dating apps. In Tinder's words, they have re-entered “a more normal way of life”.

💡The decline in revenue makes sense in this context, but the biggest question of all.. Why on earth would Tinder have ever needed a digital currency in the first place?

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