YouSaid · the spoken record

Shar Dubey

lines on the record: 68
first: 2018-07-14
most recent: 2018-07-14
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“I just think that it's like, for example, we just had a great event at Match where we did a honeymoon game. It was really fun where we ask people questions about four couples came in and we asked them questions about the other, sorry, the newlywed game. We asked them about their partners. It was really fun. We have people from Tinder and OK Cupid and PlentyFish and they got in front of us on a stage. And one of the couples that met, they went to grade school. They went to high school and they went to college together to A&M. They had never met any of those places. And they got on match and met through match. And so we hear these kind of stories all the time, which are sweet, not funny. But, you know, sometimes you just pass these people that, you know, might have been your match and you never had a chance to get to know them.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Oh god, I mean, every time I sit on a plane, which I told you I live on a plane, people ask me for dating advice, which is so funny. And there's two people that I've said, you know, you should really try match. And I've actually just, as a being a nice person, I've comped them. Both people have found their spouses unmatched. Really texted me or email me back.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“It's past tense, so it's not currently, especially because we wanted to protect women's safety. So if you leave an establishment in a bar, a restaurant, a coffee shop, it'll ask you if you want to see who's actually has been at that in the past. And so who you are, where you go says so much. And we think a lot of these apps using technology, location technology, video technology is going to get so much better at really figuring out much more about who you're going to have chemistry with.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“A bunch of our different products do, but we just have a three second video on Tinder. And so it's not just that. It's more about like, what are the ways to get to know people in a more profound way? We just launch places on Tinder, for example. And it's not just lat long where you cross, but around, you know, you are where you go. So you live in San Francisco. I don't know if you live in San Francisco, but you live in San Francisco. You go to your coffee shop, you go to an art gallery, you do whatever the things you do, you now have the ability through Tinder to figure out I now I can see.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Well, I think, you know, with some of our products, for example, a Tinder, we don't have a lot of data because it's just your photo and very little information. There's other apps that we have, for example, OKCubid, plenty of fish and match where we know a lot about you because you give us a lot of information. And so we have a lot more data points to improve the matching algorithms. But AI is changing things allows us to get much more predictive in terms of matching. But look, I mean, it's not just this three-way communication that we try to optimize around for these businesses. It's really around ultimately, I mean, the holy grail for me is around being able to predict that you're going to have chemistry before you actually go out and have a beer with someone. And so as you think about not just AI, but also around what can we provide, what features can we provide within these products that allow people to get to know someone in a way that they wouldn't have with just a one-dimensional photo and a swipe? So that includes things like video technology.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Very few to know on has arranged marriage. So there's just a big change generationally going on there. And so I think India is a big opportunity. And we're seeing it's one of our highest growing markets for Tinder in particular and young urban markets. And I just think that's just, it's such a huge population and more and more people want to find partners outside of the traditional ways.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“South America is a big, it's a big opportunity culturally, there's not as much stigma, and there's a lot of, we have a lot of users. It's going to be around people feeling comfortable and starting to pay for products. So that's one. And then I would say the markets that I'm really excited about are markets where the generational gap is starting to become profound. So in India, my husband's from India, and we went to my nephew's wedding in December. And it was crazy because my sister-in-law, that generation, my husband was the first person in his family to not have an arranged marriage. And so, and my sister-in-law had an arranged marriage. But that next generation, my nephew's generation.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Opportunities, which we hadn't talked about as just the growth opportunities I don't think are in the US, although we're going to continue to grow in the U.S., but that's not where the big trajectory of growth is. It's really outside of the US and Western Europe where you see a lot more people. It's going to look like what the U.S. looked like 10 years ago when I was slogging in away at the second brand of match and trying to grow the portfolio because we knew that there's a lot of different people at different needs. And so how do we solve those needs? So it is certainly something that we're cautious about, but given the landscape right now, it doesn't seem to be as big of an existential threat for us.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Sorry, meeting the dating, global dating market, it's still pretty small. I mean, if you look at, for example, in India, that dating slash marriage market, there's these big players that have brick and mortar stores that are more about arrange marriage. And so if you think about, you know, how big our imprint is, it's still relatively small. And, I mean, and also, I think there's huge”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“I think there's two ways we've thought about it. First of all, I guess technically when it comes to relationships, a lot of people meet through bars, but we don't see ourselves competing against bars. So that's this one argument where people meet through a lot of different ways. It's just one of the ways they meet. And then also when Facebook decided to get into the category, I mean, really that is probably one of the biggest competitors. So it changed the competitive landscape quite a bit. But if you look at some markets where we still have pretty low, you know, penetration of this market relative to this market.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“We can't, I mean, we won't disclose that, and it's not material enough from a public SEC perspective. But I think it works out great because, you know, just in the team, I think, are fired up the way that when we acquire companies, we not generally, we let them run independently, but the big benefit that they have is they can get access to Everyone, all the mistakes we've made. We've met a lot of them over the last couple of decades. And so he now will have direct access to every analytical person in the company. He'll be able to have direct access to all the best practices. And then, you know, we want them to succeed. And we think that their growth is really compelling.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Justin's tenacity, and it doesn't happen often where you have a business that has fire, then sort of comes down and then goes right back up. And it's just been a great story. And word of mouth marketing is because the product is so good, I think has really been what has driven a lot of the growth in the business. And we love those businesses. I mean, we look at businesses that where are paid, like you pay for the brand, like Bumble's an example of that. This particular business, they do very little to no advertising, which is pretty compelling.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“And the community matters a lot in dating because without the community, you don't have liquidity, you can't match people, and it's a shitty experience. And so what he did is he created this beautiful product. And it definitely caught some fire, particularly on the East Coast and a few markets. New York and Boston, some other markets where they've gotten real traction. And during that pivot well over a year ago, we started talking to him and we have a relationship with a lot of the startups in the community and they were looking for an investment. We made an investment. We put one of our executives who actually really did the deal, was a board member. And so we've been supporting, helping him, been on the board, having visibility into, you know, into obviously what he's been doing. And then, I mean, like I said, one of the reasons we love this business is because the tenacity of the product team and”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“That's right, y Hinge has been just one of these really, really interesting entrepreneurial stories. I mean, it goes back to like, you know, me in the beginning, I talked about loving the entrepreneurial stories and these business stories. And you got to give a lot of credit to Justin, who's the CEO there. He created real momentum with the hinge business. And his whole idea was like, how do we create for the millennial audience something that is more higher intent, more serious? Because there were so many 20-somethings coming into the category. But when they were looking for something much more higher intent and a real relationship, where do they go next? And so he provided that solution. And his initial real hook was like friends of friends. That was what he ended up doing. He decided a couple years ago, maybe it's been a year and a half. Now I'm losing track of time to pivot the product, completely pivot the product. And usually when that happens, you see a business really decline, especially if you've got to rebuild up your user.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“We look at businesses all the time. And, you know, they had started their own process. And so in the beginning, they clearly had been reaching out to a lot of different folks in the space, both strategic buyers like ours as well as other investors. But yeah, I mean, it's, you know, we look at lots of businesses. It has to make sense and the value has to be right for us because we're not going to pay way above market prices for really like smart value buyers and we've done that white Barry Dillers run many, many businesses and processes that way. And we are the DNA of IEC. And that's how we think about deals. And so we've got a team that is dedicated 100% of the time to looking at companies and businesses and deals. That's all they do. And so we are, you know, we're looking at businesses outside of the US. We're looking at businesses, you know, smaller businesses inside the US. And so we just always.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“I mean, you never know, and I think that sometimes these reactions tend to be, as you said, like optically, you know, people were upset because of the optics. And there's emotions involved, but you never know. You're interested, though.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Down the road, but we couldn't. We had to sort of make a little bit of a game time decision on the timing side. And so anyway, but I completely understand the optics of it all, but it wasn't just wasn't the case.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“I mean, I understand the optics of it, but we also had a timing issue around sort of legal process. And so we sort of had an opportunity. It's like, we have to do this. And the sales process was just taking a while. It could take forever or end tomorrow or end in two months. And so we just, we had to make a move. I mean, honestly, from there's not much that you can sort of take with you. And, you know, fay money, all that stuff doesn't sort of matter at the end of the day. You have to have integrity. And so for me, it really wasn't about that. And I mean, businesses and deals will come and go, but you've got to make sure in the market that people trust your word and you're not, you know, playing games and processes. And so anyway, so I just think it was important for me. And it was just unfortunate. In fact, the truth is I wanted to keep pushing that out, that deadline out. I was like, oh, you know, we'll figure this out sort of, you know.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“I've got a really nice. I mean, I think really highly of Whitney, and I have stayed in touch with her, and I think she's great. So that's the irony and all this. And I think as a female leader in technology, and I have been in the industry a long time, there's not been a lot of women in the category. So it's nice to see. Yeah. And I think that given what she's done this branch, you know, done a really nice job.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“It was swiping and unlocking conversation. And so we made a decision to go after Bumble Tantan. There's some other ones too that we've actually sent letters to as well that they've now adjusted their products or are in talks with us. And then, of course, smaller products that have used the swipe in a way that looks very much like Tinder have reached out to us and said, we know that you want to.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“I mean, it bothered me only because, you know, when people know me and meet me, and especially have worked with me, they know that I have integrity and certainly the last thing in the world you'd ever call me is a bully for sure. But it's also, you know, this is a highly competitive space. And then I'll back up and tell you a little bit about the history. You know, when Q4 of last year, towards the end of last year, we got from the US patent office. We got this patent, which is great, which was patent around the swiping and unlucking communication, which we were really excited about. And so at the time, we never had that before. So this was end of last year. And on the earnings call, my first earnings call, we alluded to the fact that we had this patent. We're really excited about it. We felt that it really was defensible. And honestly, you don't use a patent unless you feel like it's defensible because it's expensive and it takes a long time and it's just not worth it.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“I get a text at four in the morning from my head of PR saying, do you have the New York Times? And I said, I said, no. And she said, well, go get it. So I called down at the lobby of the hotel in New York and they gave it to me and opened it with the page. I was like, oh, my gosh, what a day for this to happen. So anyway. It was scathing.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Well, the funniest thing is that I took on this role in January. And, you know, as a female CEO in the tech industry and, you know, some of the discussions I had with my board is that they really encouraged me, you know, as a woman, and I'm such a hands-on operator in sort of my head tends to be more focused internally, not as much externally. And so my board said, you know, you really need to get out there more. Your story is important, what you're doing with the business important, and the fact that you're a female in the tech industry is really, it's important, especially at this time. And so I set up, I don't know, I can't remember now the timing, but a few months after I had been in the role, I think it was post-Valentine's Day. I set up a series of meetings for me to talk to a lot of media. And literally the day that all those meetings were happening over the next two days.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Which Mark Zuckerberg used my quote, which I use all the time is a third relationship start with apps. And we've been tracking that over the last 10 years. It didn't used to be that high for sure. I mean, when I first started, it was less than 10%. And so we've seen this huge surge and it is the way to date. I mean, I can't imagine someone in their 20s saying that I'm never going to use an app because just the chances of meeting someone that you wouldn't have met otherwise, you just reduce that chance a lot.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“It's hard. I mean, it's really hard. And the other thing, too, is that I just don't want to put out bogus claims in the market. And I think it's very complicated to measure. And I'd rather tell people that, you know, I know for a fact how many dates, relationships, and marriages happen through our apps, but I can't guarantee that. And the other thing too is that there's so many impacts divorce is complicated, and I know I've been through a divorce, and it's very hard to predict divorce. And so on the flip side, I don't want to predict long-term marriage. But, you know, in this.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“The correlation between date. So everything we do is try to optimize around those three ways, those three way communications. And that's across a lot of our platforms just because ultimately we really do want people to go on dates because”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“No, no, no. Stories. No, no, no. So you ask a really important question. So, there's a lot of KPIs. People always say, oh, you work for a dating company. How fun? And yes, I love it and it's fun and pretty passionate about it. But it's a hardcore metric driven technology company. But what we really look at across all these businesses is, well, we used to call them three ways, which sounds much more provocative than it is. So three-way conversations. And at some point, it's like, guys, we actually can't say that in meetings. Just say three-way conversations. Three ways. But when I communicate with you, you communicate back to me and I communicate back. That is a high degree of confidence we have that you're going to actually go on a date. And so there's a high correlation between communication, obviously. So it's not like you send me a note and I said no thanks. That's why we actually have three points of contact. And then after those three points of contact, we've been able to measure that, you know.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Really, a badge of honor. People thank us and they feel very proud that they're on these apps. And for every person they tell, you've got this word of mouth that really is created. So there's still a little bit of stigma in our category in the U.S., but that stigma is much more profound outside, particularly in South America and Asia, where I think that word of mouth and having success and people talking about the success is going to be really important for the growth.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Well, you know, it's funny. I mean, I've heard this question through the years. I mean, our goal is that if you find, first of all, people are single for long periods of time. And now that we've got a younger audience for the first time in the last five years in the category, they are single for a very long time because the average age, I think for marriage in the US, I think it's like 27. And I think that's for men. And so you're spending, I don't know, almost a decade single from 18 to 27. And so we hope that people will come back because it's relevant and they'll date someone, they'll break up, they'll get back together, you know, they'll date someone else. And so hopefully it will be part of that experience. But ultimately, the Holy Grail is people saying they have a great experience on our products. And so if you open up the New York Times and you see more than half of the stories the New York Times marriage section are through dating apps, people are out there. It used to be when I started 13 or 12 years ago, people did not say they met through dating apps, even when they got married now.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Be with, and I'm no longer dating, and therefore I'm not a customer. So I'm curious how you kind of handle that, right? You want to be good. Is there ever a thinking like, well, you want to be good but not too good because people are good.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“My mom What is the metric that you look for in an app? I'm sure they're all different. I'm sure the metrics you care about with Tinder are different than Match. But it's kind of a weird business in the sense that if you do your job really well, I should no longer need your product, right? Like if you have matched me with someone that I want to.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Well, I mean, I think it's incredible. I mean, at the core, I'm a marketing and brand person. And Tinder cannot, I mean, it'll age a little bit just because the nade got introduced on college campuses and we're seeing it age a little bit into people's 20s. But it is really the definition in my mind of kind of mass cool. And we just can't have what happened to other brands happen to our brand, which is like, ooh, my older sibling uses it. My dad uses it. My mom uses it. And so I would say even at the expense of alienating older users, we've got to stay young and highly relevant to that core audience.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“And are you okay with the idea that if I'm 18 to 24, I use Tinder, and then I graduate to another match group product? Or ideally, would you like that group that's using Tinder now? Do you want Tinder to be the product they use into their late 20s, early 30s? I guess I'm curious how comfortable or hard you try to get consumers to go from one product to the next as they evolve in their dating versus find one that works and then be able to kind of carry them all the way through”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, yeah. I mean, it is part of the public company and the match group. And so anyway, so I think that what it did is I think that it gave people, look, we're still early on in Tinder. Tinder at this point is a lot of swiping, getting to know people, dating, hanging out. Also is that group ages. We've got to also figure out where are they going to go next. So that's a huge preoccupation of ours. But every person who's like 18, 19, 20 should be on Tinder. And the reason they're on Tinder is because it has certainly gamified makes it fun. It's fun to look at people. It's fun to see who's responding back to you. But I think that's the start. We've got a lot of work to do because we really want to be integrated into people's single social life, especially when they're young. And so what are those touch points? And how do we take this product? And you've covered so many businesses where think about the early days of Facebook, the early days of Snap.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Well, Tinder was really the first innovative with the swipe, the first innovative mobile only dating product that appealed to this millennial audience. And it really created a new trend. And that's wild. I mean, we incubated it with inside of the company, which almost never happens to create lightning in a bottle inside of a bigger company. And so look, we'll take it. So you own the whole thing.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Well, I mean, you know, it's interesting. Five years ago when Tinder launched, it brought an entirely new audience into dating apps. Like people did not, if you were that young, you just weren't on dating apps. So it made it cool and interesting. Now, the amazing benefit we had tens of millions of people globally come on into the category, which was pretty incredible. But when you're 18 to 25, you're just not looking to get married. And so I think part of it is just a reflection of that audience and what they actually do. It's kind of like when you first go to college and you meet, I don't know a couple hundred people in your first few weeks and you're trying to figure out like that it's a huge funnel. You're trying to figure out who are going to be my friends, who am I to date, who am I going to hang out with? It's the same thing when you sort of enter that dating world where you're looking at lots and lots of people to try to figure out who you want to connect with, hang out with, and then ultimately maybe be in a relationship, but I can tell you at 21, you're just not looking to get married, nor should you be, in my opinion.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, it was interesting when they announced it, Mark Zuckerberg did say, hey, this is not for, this is for serious relationships, this is not just for hookups. Seemed like a pretty clear dig at Tinder. That's kind of always been the reputation of Tinder. It's like if you're in your early 20s and you're just looking to have a good time, you know, you hop on Tinder and voila. Does that kind of reputation bother you”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Maybe that crowd or mass. So we know very few about it, but Mark Zuckerberg did say that we're not going after hookups, we're going after serious relationships. And so, you know, matches a little bit older. It's always been a little bit older. It's always been sort of 30 to 50. And it could. I mean, the other thing which I alluded to before is the fact that if they go out in these markets, Especially in these Asian markets where dating is just starting these cultures, they could really, it's a stigmatized category. And so normalizing that category actually could open up more opportunity for us in Southeast Asia and areas where just people didn't do it, but they're all on Facebook. So we'll have to see how it unfolds, but certainly something that we're watching.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Definitively, we think you're going to use one of our apps, most likely Tinder. And so we just don't think there's as much of a threat. But Facebook's got a huge amount of users and they haven't launched their feature yet. And so we'll have to watch and see. But we don't want to underestimate Facebook, but we just can't imagine a world where people who are 23 are going to say, oh, I'm going to stop using dating apps and I'm going to use Facebook only.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Now we give them another option to be able to sign up through Tinder through their phone through SMS. And when given the option for new users coming through, not only did 75% of people say, I just rather use my phone and not use Facebook, even though it was the second option, and Facebook was the big option on top. So that was clear that they wanted to separate their dating worlds from their Facebook world. But the second thing is we got a ton of new users, incremental users, that at some point they were just like, I don't want to mix my dating life. And so now that you give me another option, I'll just sign up. So we saw a big benefit from that too. So that's the first thing. And then the second piece, I think, is that, you know, that people use more than one apps. And so if you're a 23-year-old and you're going to be using two or three apps,”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Just a few days later, right? We had a great earnings call, but the same thing was, I mean, we actually took a hit right with our earnings call, you know, and so, but over the last month or so, we were able to sort of gain some ground. But I think that, you know, the arguments we laid out and also that some of the”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“You know, I think that anytime Facebook makes overt gestures of getting into a category, I think the market pays attention. I think that post our earnings and I sort of laid out all the arguments around why this is, particularly for Tinder, and I can talk a little bit about it. I think the first thing that I said, so back to your question, the market definitely had a, you know, after the sort of the big shock of the news, our stock was back up, not to where it was prior.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Opportunity relative to the other piece. But going back to your point about is it important? Yeah, I mean, the privacy issue is hugely important in dating. And we really, you know, people have to come to us and realize that we're not going to expose their information. We're not going to sell our information and that they have to feel confident because dating is highly, highly personal, and you certainly wouldn't want to give people access to how you interact with a woman that you're excited about or interested in in a dating app. And so it was surprising. We have seen that people want to separate their dating lives from Facebook. We had heard that anecdotally. We saw it in a few facts, which I'm happy to talk about. So we were surprised at the timing and just, you know, how, given the climate now, felt like it was an odd time to introduce something that could create real concerns for consumers.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“I would not. Well, I would now because, you know, but they should be on her half. But yes, yes. So, I mean, I do think there are opportunities. But what we've seen is that, look, when we went public a couple years ago, we actually thought that our advertising business would be bigger. And what we didn't realize at the time, particularly with Tinder, is that we weren't sure how, you know, if millennials are going to pay for these products. And what we found is that they are willing to pay for these products because it creates more value for them in the dating experience. And, you know, given how much we were able to monetize that stream, which is really around either giving you more attention or making you more successful by giving you things to show people that you're interested in them. For example, it just made a lot more money. It was a lot more efficient than advertising. And so we ended up spending a little bit less focus and engineering time and energy on the advertising side just because it was just a small.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“You have to be really cautious about it. And our business is 95% subscription or like these a la carte features for our businesses. So we don't, you know, we're five percent advertising or less. It's a very small percentage of our business. And so we're not in the business of selling data, targeting users. It's just much smaller. And so we have the ability to optimize based on improving people's experience and dating experience. And that's not necessarily the case for advertisers.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“I am not, certainly not shocking because we studied the single population we do these huge studies every quarter with thousands of people, well globally, but in the US and forever, I mean, years and years, people are saying that they met their partners through Facebook. Now it's like reconnecting through old friends or through a friend of a friend or they met at a party and they reconnected on Facebook. And so we do, that's a phenomenon that exists, which what we call sort of implicit dating or alibi dating. The fact that they went out and said, no, we really want to connect people to date. I think that was surprising more from trying to understand their motivations because, you know, they've stayed away from it quite intentionally, dating arena. But anyway, so it was interesting.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Well, first of all, I literally was just finishing at that moment my earning script, which was a few days later we had earnings. And so I was putting the finishing touches on my remarks for earnings. And then my phone started ringing. And I started getting texts all within a period of like five, six minutes, like check out the news, check out the news. I'm the heck's going on. And as I looked down at my phone, I see our stock ticker and our price is starting to plummet. What the heck is going on? So we did see our stock tick quite a big hit during that day. But, you know, the people ask me a lot, were you surprised? I mean, yes, that actual day I was because then I literally had just printed the script and I threw it behind my desk and all the papers flew everywhere. It's like a movie scene. It was a movie scene. And then I was like, now there's only one topic on this earnings call, which ended up being, you know, although we had one of our really our best quarter we've ever had. But anyway, a lot of questions around Facebook.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“He said that's gross. Yes. He's like, ew. But I do think, I mean, first of all, you know, unlike a lot of products or businesses, it's very hard sometimes to connect to the products that you create, especially the B2B products you create. But, you know, we're humans, we're in relationships. It's not so long ago that a lot of us were dating. And so it's not that it's not a huge leap. Or at least when we're talking about the heterosexual population”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“Well, I mean, I can't say I use the products, but they're all downloaded on my app. And actually, we just launched a new app and I got connected with my cousin. In his 20s, I took a screenshot and I sent it to him. You need to work on the A.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT
“I think that while I mean, we've got a series of small brands that are people like LDS Dating for people, generally people are divorced in the Mormon community. So those are very small. I think the biggest one in one of our fastest growing segment is over 50. Because people, I mean, I guarantee you, certainly 10 years ago, people never thought about dating as you got older. But I think what really happened is the more people got used to interacting in social circles, especially through Facebook as they got older, I think they felt much more comfortable trying dating apps. And so we've seen this real and also in the US with divorce rates being at 50%. It's hard as you get older to figure out where to meet people. And so that's a segment that I, you know, I'm really proud that we are able to help.”
2018-07-14 · Decoder with Nilay Patel · Recode Decode: Tinder parent company Match Group prepares for battle with Facebook · IDENTIFIED FROM THE TRANSCRIPT