24/7 Space News
TECH SPACE
Dating apps move to friend zone in search of profits
Reuters Events SMR and Advanced Reactor 2025
Dating apps move to friend zone in search of profits
By Daxia ROJAS
Lisbon (AFP) Nov 14, 2024

Burnt-out love-seekers are shunning dating apps in their millions, but the apps are trying to woo them back with a counter offer: If you don't want a lover, perhaps you just need a friend?

The giants of the industry -- Bumble and Match, which owns Tinder -- have both created apps catering to friendly meetups, joining countless smaller platforms that have already entered the friend zone.

Bumble For Friends launched in July last year and by the third quarter of this year had around 730,000 monthly active users, according to figures from market intelligence firm Sensor Tower.

Bumble has also acquired the Geneva app, which caters to people wanting to form groups around particular interests.

"It's just the beginning of our vision to expand the company's footprint and helping people find connections broadly," Bumble CEO Lidiane Jones said during the Web Summit in Lisbon on Wednesday.

Match, meanwhile, launched the Yuzu app in February targeting the Asian community in the United States, offering a choice between friendly or romantic encounters.

The group has also been testing a service dedicated to friendship in France on its dating app for older people, DisonsDemain.

Both firms have suffered dramatic slumps since the boom times of the pandemic, when millions turned to the apps during periods when governments restricted people's movements.

- 'App fatigue' -

Sensor Tower said while Bumble For Friends was soaring, its dating app had shed eight percent of its monthly active users between the start of October last year and this year -- the figure now standing at 21 million.

Tinder, by far the biggest dating app with around 53 million monthly active users, saw a 16 percent slump in the same period.

Seema Shah of Sensor Tower said users were feeling "app fatigue".

"It's affecting all apps but in particular these dating apps. People are just kind of tired of it," she said.

Tinder was hit particularly hard as it targeted younger users between 18 and 22.

"This is the same age group that likes to do a lot of things in person," she said.

These declines are hitting the firms where it really hurts -- the wallet.

Match Group has shed more than $40 billion from its value in three years.

Bumble achieved a valuation of more than $20 billion when it went public in 2021, but it is now worth only about $1.3 billion.

The firm announced the layoff of a third of its workforce in February.

And success in the friend zone is far from assured, with plenty of apps already battling to attract future BFFs.

- Novelty factor -

The apps often cater to particular situations -- WeRoad and TripBFF connect solo travellers, Wink and Plura help people find friends based on their interests.

French app Timeleft, launched last year, brings together six strangers every week for dinner at a restaurant.

The app has already organised dinners in 280 cities across 62 countries and is getting closer to profitability, cofounder Maxime Barbier told AFP.

He said diners were assembled using an algorithm enriched by the results of personality tests taken by the users.

For Arthur Czubinski, a 32-year-old translator, it is a winning formula.

He told AFP he had been to 12 dinners organised by the app in just a few months.

"Some of the tables have been incredible," he said.

But Seema Shah suggested the first flushes of success for friendship apps were at least partly down to novelty.

She expressed doubt people would pay in the long term.

"It's probably easier to find friends in your area if you join some activity or through your job," she said.

dax/jxb/yad

IAC/INTERACTIVECORP

Related Links
Space Technology News - Applications and Research

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
TECH SPACE
Ubisoft half-year results slide
Paris (AFP) Oct 30, 2024
French video game publisher Ubisoft on Wednesday reported that its financial results slid in the first half of the year, sending its shares tumbling. The maker of "Assassin's Creed" and "Just Dance" games said turnover was down by nearly 20 percent, while "net bookings", its benchmark indicator, was down by nearly 22 percent. Ubisoft shares lost nearly four percent on Wednesday, ending the day at 13.38 euros per share, above the all-time low of 9.01 euros the stock hit in September, but a long w ... read more

TECH SPACE
'Terrible' AI has given tech an existential headache: activist

Mining Voyager 2 data unlocks long-standing Uranus mysteries

NASA engages commercial food industry in advancing space nutrition

Get Involved with NASA Research Opportunities

TECH SPACE
600th Arctic rocket launch successfully conducted by DLR

Ariane 6 upper stage completes acoustic testing at ESA's Netherlands site

SpaceX launches Koreasat-6A, highlights booster's 23rd successful mission

UP Aerospace and Los Alamos lab achieve successful suborbital launch at Spaceport America

TECH SPACE
Off-the-shelf thermoelectric generators could enable CO2 conversion on Mars

Chinese rover finds signs of ancient ocean on Mars

Ancient Martian waterways carved beneath icy caps

Explanation found for encrusting of the Martian soil

TECH SPACE
Shenzhou 18 brings back samples for space habitability and materials research

Shenzhou 18 crew back in China after 6-month mission to Tiangong station

Chinese space station crew returns after six months in orbit

Shenzhou XIX Crew Joins Tiangong Space Station for Crew Rotation

TECH SPACE
Intuition-1 marks one year of delivering advanced orbital insights

China launches alliance for aerospace and satellite internet in Xiong'an

Horizon Technology Finance approves $10M loan for Ursa Space Systems expansion

Florida university consortium designated Space Research Leader

TECH SPACE
Dating apps move to friend zone in search of profits

MIT engineers make converting CO2 into useful products more practical

Carbon recycling offers solution to plastic pollution

Startup turns mining waste into critical metals for the U.S.

TECH SPACE
Optimal Learning Rates Revealed in New Study on Adaptation

Ariel spacecraft prepares for rigorous tests at Airbus facility

Microbes thrive on iron in oxygen-free environments

Astronomers Identify New Organic Molecule in Interstellar Space

TECH SPACE
Uranus moon Miranda may hold a hidden ocean below its surface

NASA and SpaceX Set for Europa Clipper Launch on October 14

NASA probe Europa Clipper lifts off for Jupiter's icy moon

Is life possible on a Jupiter moon? NASA goes to investigate

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.