The proprietor of Tinder, Match Group, holds the opinion that the users will continue to swipe right on its arena even with the existence of Facebook Dating.
Gary Swidler, Chief Financial Officer of Match Group is not troubled with Facebook's forthcoming to the spot of online dating . Up to now Swidler and his crew haven't noticed negative effects on their achievements for Facebook's dating service functions in five markets across the oceans.
Match Group, the owner of Match, Hinge and other dating portals, is not taking any precautionary measures because of Facebook’s ambitions. However, Swidler confesses that they are very watchful.
Match Group’s first quarter results released Tuesday evening prove Swidler’s views. First quarter sales surged 14% year-over-year to $465 million. Average subscribers rose 16% to 8.6 million. Average revenue per user (ARPU) increased 4%, excluding the negative impact of the stronger U.S. dollar.
Swidler says Match continues to see momentum in Tinder’s (arguably Match’s most important product) new Gold premium service and other up-sell type features inside the app.
Match’s stock gained 8.7% on Wednesday as investors cheered the report. The stock is up a sexy 54% year to date.
All of this isn’t to say that Facebook Dating doesn’t represent a threat to Match given the social media giant’s 2 billion-plus global monthly users. That’s a lot of potential dating matches, after all.