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Match Group fully acquires relationship-focused app Hinge

Last year, Match Group acquired a 51 percent stake in the relationship-focused dating app Hinge, in order to diversify its portfolio of dating apps led by Tinder. The company has now confirmed that it fully bought out Hinge in the past quarter, and today owns 100 percent of the app that has been gaining momentum both inside and outside of the U.S. following last year’s deal.

Terms of the acquisition were not disclosed.

Match believes Hinge can offer an alternative to those who aren’t interested in using casual apps, like Tinder. As the company noted on its earnings call with investors this morning, half of all singles in the U.S. and Europe have never tried dating products. And of the 600 million internet-connected singles in the world, 400 million have never used dating apps.

That leaves room for an app like Hinge to grow, as it can attract a different type of user than Tinder and other Match-owned apps — like OkCupid or Plenty of Fish, for example — are able to reach.

As Match explained in November, it plans to double-down on marketing that focuses on Tinder’s more casual nature and use by young singles, while …read more

Thank you Source: Social – TEch crunch

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