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