Revenues from online dating sites
Still, even as a rising tide has the potential to lift all boats, it also tends to roil the water. Ginsberg, 48, a self-described “hands-on operator” who rose up the ranks and most recently served as CEO of the company’s North American operations, has her work cut out for her.In addition to propelling Match Group over the hurdles thrown up by competitors like Facebook and Bumble, she has to maintain and manage the explosive growth rate of the company’s crown jewel, Tinder, the swiping app that took the world by storm when it was launched in 2012, as well as oversee an ambitious international expansion.Later, Levin issued a statement addressing his company’s new competitor (IAC owns 81% of Match Group): “Come on in.
The group was listening to one of their colleagues present a routine strategic plan when the executive happened to mention something about an ad-supported business. “My phone starts lighting up with texts, and each time I’m getting a text, the stock drops another 5%,” Levin recalls.I met the ex from whom I told Ginsberg I had recently separated on in 2012.(Fun fact: Over the years, I even went on online dates with not one but two former CFOs of IAC.) But until I started working on this article, I’d never “swiped.” In 2012, IAC—through an internal incubator, Hatch Labs—launched Tinder, a simple but addictive app that turned dating profiles into a deck of cards with a “swipe” mechanism: Users quickly sort through dater photos, swiping left for “nope,” right for “like.” If both parties swipe right, a match is made, and you can start messaging.Globally, there are 600 million singles online—a number that’s expected to jump to 700 million by 2020—yet the industry’s biggest player by far, Match Group, is estimated to claim just 10% of that.So while skeptics have plenty of (valid) questions about whether Facebook can actually persuade people to trust it with their romantic lives, there’s no doubt that the behemoth’s decision to enter the market will go a long way toward legitimizing digital courtship and bringing more of those would-be daters online. Managing that feat falls not to Levin but to Mandy Ginsberg, the 12-year company vet who took over as CEO in January, replacing Greg Blatt, the onetime general counsel who became chief of IAC before moving to Match Group at the time of the spinoff.
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Those who know her say Ginsberg is likely to be up to the task.