Match Group, the online dating site company that owns and operates Tinder, the global dating site for those looking to meet Venezuelan women or dates across the world, recently reported their quarterly earnings for 2018. The company data reported an increase of 36% in revenues, with 27% of that origination from Tinder subscription rates. More remarkably, shortly after posting their earnings, MTCH shares jumped up by around 18%, the highest increase it’s ever seen to date.
Tinder’s popularity went into full swing by 2015, and, back then, it seemed like was the only way to meet other people, to meet Venezuelan women or Asian singles. It looked like a trend that would eventually die out, but from the data posted by the company, it seems like Tinder is still on the rise.
In the recent report published by Match Group, Tinder’s average subscribers in Q2 clocked in at 3.8 million, up by 300,000 from the prior quarter, and 1.7 million from the prior year. Tinder says that the business for dating sites and apps is good right now, hence their success , which Forbes magazine describes as huge, even by dating app standards.
The introduction of the new Tinder Gold saw an increase in users, with many paying the $14.99 monthly fee for the premium service.
According to a study conducted by the Pew Research Center, a nonpartisan fact tank based in Washington, DC, at least 15% of American adults have used at least one online dating app back in 2015, with the number incrementing annually. Online dating has seen rapid growth and remains a strong industry; like in the US, which sees the online dating industry raking in $2 million in annual revenue.For the Match Group, it saw a lot of success since its IPO, with a $12/share value when it first went public, which is now sitting at $50/share.
Back in 2017, Tinder generated a total of $8 billion in global revenues, and is predicted to hit $47 billion by the year 2020. Famed investor Mark Cuban currently predicts that that Tinder is capable of producing the world’s first trillionaires, but still have a slice of the pie for regular investors who are smart enough to make the right choices early.