So the idea of experiencing virtual dating and experience in Tinder to find a partner are still far from being a reality.
One of the main reasons why Match Groupowner of Tindertook a step back from its plans to adopt new technologies is that the company is not delivering the expected results.
Well, in the last financial report for the second quarter of the year, Match Group experienced a $10 million loss driven by the acquisition of hyper connect in 2021.
At least that’s how the CEO of Match GroupBernard Kim, through a letter sent to shareholders last Tuesday.
“There is no question that buying Hyperconnect while the world was closed due to COVID slowed down the integration and our ability to work together to drive company growth”
Now the idea of Match Group with the acquisition of Hyperconnect in 2021 was to leverage its video-centric technology, AI, and augmented reality technology to build an ecosystem that would enable interaction in virtual spaces.
Regarding this, Bernard Kim opines:
“By leveraging Hyperconnect technologies, we can achieve cost efficiency, better personalization and faster time to market, and I think there’s a lot more we can do on that front”
However, now Bernard Kim has given the order for the team of hyper connect do not invest much in the metaverse in Tinder because there is no clarity about business opportunities.
“We will continue to evaluate this space carefully, and will consider moving forward at the right time when we have more clarity on the overall opportunity and feel we have a service that is well positioned to succeed.”
Bernard Kim, CEO of Match Group
What about Tinder Coins?
Regarding this topic, Tinder It does not have good news either, because after evaluating the results of the tests in the market, it has been decided to take a step back and evaluate the initiative again.
Regarding this issue, Bernard Kim commented:
“We also intend to think more about virtual goods to ensure they can be a real driver of Tinder’s next stage of growth and help us unlock untapped power users on the platform.”
Finally, Tinder has reported that it will be experimenting with the development of new products that make the platform more attractive and thus boost its adoption. For example, the implementation of live video.