Stocks that help you find love
Dating app owners Match and Bumble braced for a fall in users as the cost-of-living crisis hit. Instead, what happened surprised these companies. Why are people are still willing to pay for love even amid tough economic times?
(Video summary)
Tinder Select
Dating apps like Tinder and Bumble are becoming more popular, even though living costs are going up. To meet this demand, Tinder is introducing a new service called Tinder Select. It's a high-end offering that comes with a monthly fee of about $500. With this service, users can get special access and potentially date people who may not be an exact match for them.
The timing is smart because it fits with the festive season, when many people are looking for new relationships.
Bumble, Badoo and Foots
Bumble and its sister apps, Badoo and Foots, have also seen a rise in paying users. In the second quarter, they reached 3.6 million, compared to three million the previous year. This matches the predicted growth of the online dating market, which is expected to have 438 million users by 2027.
Despite the high cost of living, the United States remains the biggest market for online dating. The success and growth of dating apps during times when the economy is struggling shows that people are willing to invest in finding true love, even when their expenses are going up. This presents opportunities for stocks like Bumble and Max, as the premium dating market keeps expanding.
Ultimately, the increasing number of people looking for love online and being open to paying for it indicates a profitable and growing market in the future.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Act on share opportunities today
Go long or short on thousands of international stocks with spread bets and CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take advantage while conditions prevail.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
