“The world has really changed” when it comes to online dating
More than half of single people in America have tried online dating or dating apps. And the internet was the No. 1 place to meet a first date last year.
That’s according to the annual “Singles in America” study by Match Group, the world’s largest subscription-based online dating company. The company includes websites and apps like Tinder, Match.com, OKCupid and Hinge.
CEO Mandy Ginsberg is one of the only female CEO’s of a publicly-traded tech company. She told “CBS This Morning” the online dating industry has exploded in a little over a decade.
“When I joined 12 years ago, 3 percent of marriages were from online dating products,” Ginsberg said. “And today it’s around 35 percent. So the world has really changed.”
Ginsberg said Match Group has put millions of dollars into figuring out the “science of matching,” developing apps that adapt to users’ actions.
“You might say I’m looking for someone who’s 6 feet tall and blond, but then once you’re actually on the app you start reaching out, connecting and going on dates with people who are short and brunette,” Ginsberg said. “So what we do is we start to adapt, what you say you want and what you actually really want are two different things. So our algorithm in this case starts to adapt much more on your behavior.”
Ginsberg said no matter how old you are or what situation you’re in, there’s an app for you.
“Our apps are very different,” Ginsberg said. “When you’re 23 years old and you’re on Tinder and getting to know and meeting people, that’s very different than if you’re 45 and you’re a single mom looking for a second time around, which you might be using Match.”
But she admits she hopes users aren’t searching too long.
“The irony is, we want people off our products because when they’re off our products, they’re successful,” Ginsberg said. “And tracking those relationships over time is something we’ve done and we have seen success rates.”
Ginsberg noted that if a user is reported as asking for money, they will be banned in order to stop scams. And Ginsberg stressed Match Group does not sell user data, since 95 percent of company revenue comes from subscriptions.
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