Love isn’t just in the air anymore, it’s online too. According to Statista, 30% of internet users aged 18 to 29-years-old are currently enrolled with some form of dating app. More and more happy couples are finding each other through apps like Tinder, but how does “Cupid” make a living?
Who Owns Tinder, And How Do They Make Money?
Match Group went public in 2015 after earning $888 million in revenue the year before. Almost 85% of that revenue came from dating sites and apps like Tinder.
Tinder, and other Match Group dating services, make their money through membership fees and other subscription features.
The graphic below shows the annual dating revenue of the Match Dating Group, which includes Match.com, OkCupid, Tinder, PlentyofFish, and more.
Match Group’s primary shareholder is IAC/InterActiveCorp with a 97.6% voting interest and 80.9% ownership interest.
The company is publicly traded as NASDAQ: MTCH under the Interent industry. Its headquarters are located in Dallas, Texas with Gregory R. Blatt acting as Chariman and Ceo. Gregory Swidler is the CFO.
In 2017, Match Group reported a $1.3 billion revenue with an operating income of $360.5 million. Their total assets are valued at $2.1 billion.
Is Tinder A Free Dating App?
Originally created by Hatch Labs, Tinder was launched in 2012 as a location-based social search engine. Users could easily create profiles from pictures in their Facebook accounts along with a short bio and links to other social media applications.
Users with potentially compatible profiles are then matched by geographical location, mutual friends, and common interests. Any user can then evaluate their matches by swiping the image to the right for “likes” or left to keep searching.
All of these features are available to any user for free. Tinder Gold, a paid subscription service which was introduced in 2017, allows users to see who has already “swiped right” on their profile.