How Match Group Is Creating Meaningful Human Connection
We partnered with Invesco to explore how Nasdaq-100 listed Match Group is helping forge human connections.
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If you think about Maslow's hierarchy of human needs, right above food, shelter, and security, there is love and relationships. We are a technology company in the service of a fundamental human need.
When I started, about 15 years ago, only about 3% of marriages in the US started online. And today it's about half of all marriages start online.
Our strategy is really to have a portfolio of brands because we think dating is not a one size fits all category. We’ve got demographically focused apps like BLK and Chispa, we’ve got apps for younger people like Tinder, and we’ve got much more serious focused apps like Match and Our Time as well.
We define the category with a product like Match. We reinvent the business model with something like OkCupid, and then we completely adopt a new platform with Tinder– going mobile. And so now we're looking forward and we need to keep pushing ourselves to say, what is the next set of innovations that are going to be relevant for, for the users?
Certainly using machine learning and AI to make better recommendations for what matches might to appealing to people has been a big focus of ours.
At the start of the pandemic we launched live streaming in one of our apps called Plenty of Fish. And what we saw was just a lot of users gravitate towards that experience.
And so we accelerated one-to-one video, one to many video, and we do think this has changed the game of online dating forever.
When we first started this business, the connections that we were making for people were more on the romantic side, but now we've started to move into more what we call social discovery, which is all sorts of relationships, friendship, companionship, sharing common interests.
We can actually have people meet and get to know each other over time and simulate what real life meeting and getting to know each other is. We bring happiness to people.
The demand for using online tools to meet people for dating and for social discovery continues to grow. If we keep making products that people enjoy using, we're going to be successful around the world, that's the path we're already on, and I'm optimistic about our future.
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