The parent company of popular dating apps Hinge, OkCupid, Tinder and others, Match Group Inc, has just released their Q3 reports and they say that in spite of the Coronavirus pandemic, the dating apps under their umbrella are proving to still be profitable.
The companies under Match Group have experienced a growth of 1.1 million subscribers with a revenue of $84 million USD. From year 2014 to 2020, the dating apps have reached a total of $1.4 billion USD with Tinder leading the charge. Tinder also has plans to reach 10 more countries with the expansion of Tinder Platinum in Q4.
Even though no projections have been released for 2021, Match Group has speculated a 17% – 19% growth with revenues between $640 million & $650 million USD. CEO Shar Dubey & COO/CFO Gary Swidler released a joint statement that read: “What we offer our communities, the ability to connect and form meaningful relationships, is indispensable. And while there may be short term volatility that comes with the unpredictability of current events, our mission is a beacon for a more hopeful future,” they said, finishing with: “wishing everyone a safe, extended cuffing season.”
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