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Itâs been an ugly week at Elon Muskâs âtown squareâ, but Twitterâs not the only app getting ugly. Reverse catfishingâs been popping up on dating apps like a nervous breakout⊠or a bedroom selfie on BeReal. And dating apps themselves might be hoping people superswipe to get to know their personality, too. Since January this year, both Bumble (BMBL), and Tinder and Hinge owner, Match Group (MTCH), have drifted apart from shareholders, falling 32% and nearly 68% respectively. đ
Following third quarter earnings, however, Match may be hoping to swap the dog box for long walks on the beach. đïž The 20-year-old online dating pioneer with 16.5 million paying users, beat analystsâ revenue earnings estimates by 2.1% for the quarter, seeing shares jump 13% then settle back down to pre-earningsâ value. But itâs not all roses for Tinder. đ„ Statista research released mid-year showed US singles may be switching to female-founded Bumble, which overtook Tinder as the most popular paid dating app in early 2022. And investors are still ghosting. Why? Analyst data suggests it could be Matchâs profit margins dropping from 21% last year to 3.4% thatâs spooking shareholders.
Also hoping to play cupid with investors is last year's IPO fresh face, Bumble. đč While falling 40% from their loved-up July high, and 69% from their St Valentineâs high in 2021, some analysts expect their earnings per share (EPS) to increase 91.67% in the next year. But despite bumbling product delays and declining margins, Bumble still appears to be âsqueezing more revenueâ from users than Match, which increased 13% in their second quarter.
Chinese-owned Grindr may also be swiping for their partner in crime. đ US national security may yet be wedded to concerns about Grindr selling location-based data, but after the LGBTIQ+-friendly app merged with a SPAC this year, it appears theyâre preparing to go public. Could things get reeeally ugly?
Weâre not financial advisors and Hatch news is for your information only. However dazzling our writing, none of it is a recommendation to invest in any of the companies or funds mentioned. If you want support before making any investment decisions, consider seeking financial advice from a licensed provider. Weâve done our best to ensure all information is current when we pushed âpublishâ on this article. And of course, with investing, your money isnât guaranteed to grow and thereâs always a risk you might lose money.
