The Match Group (Buy, TP: $54) Quick Thoughts Following the Call
Management confirmed tests of a super-premium tier at Tinder, and specified an 8% headcount reduction. Near-term, we think payer growth at Tinder will remain controversial, especially as management warned of continued headwinds through 1H23. We continue to see the new strategy gaining traction through the year, which is more visible now after several new insights on the call.Match Group is a provider of dating products available in over 40 languages to its users all over the world through applications and websites it owns and operates. The company operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number other brands. Through its portfolio of brands, the company provides tailored products to meet the varying preferences of its users. All the company's products enable users to establish a profile and review other users' profiles without charge. Each product also provides additional features, some of which are free, and some of which require payment depending on the particular product.
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