'Ready to evolve:' Match sees online dating changing after COVID – Dallas Business Journal – Dallas Business Journal

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Match is readying for change in how people connect with relationships.
The Dallas online-dating company, which reported Tuesday slower sales growth, sees changes afoot as more folks embrace digital in more steps with relationships, according to a document posted to the company’s investor relations website.
“Match Group has succeeded through three evolutions in the dating category to remain the leader in helping people make meaningful connections worldwide,” the document said. “It is time for us to undertake the next evolution, by innovating further on our products and adding new capabilities.”
The Dallas company (Nasdaq: MTCH) is putting more resources into what it sees as the future. That includes new features around video and other online capabilities — and the recent acquisition of Hyperconnect, which provides technology prowess for key long-term efforts that include “metaverse” experiences using virtual worlds.
“Overall, our business has emerged strongly from the pandemic and is ready to evolve in incredibly interesting ways,” the document said.
Video will be a key driver moving forward and the next phase of dating will include more “getting to know you” phases online, the letter said.
Tinder, a crucial part of its plan for the next decade, is getting updates to its “Explore” features that enable interactive ways to connect. Virtual goods, helped by virtual currency, are on tap for the future with testing beginning next year.
Revenue in the third quarter rose 25% year-over-year. That compares to 27% in the second quarter.
Still, operating income in the recent quarter rose 10%, better than the 7% in the earlier period year-over-year.
“It is time for us to undertake the next evolution, by innovating further on our products and adding new capabilities, including several being built by Hyperconnect and provided to our other brands,” the document said. “The demand for using online tools to meet people continues to grow.”
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