What it’s like to visit Little Island, NYC’s newest public park built as an artificial island off Manhattan

Little Island
  • Little Island, New York City’s newest public park, opened on May 21.
  • The park was primarily funded by the Diller-von Furstenberg Family Foundation.
  • “What I’ve heard Mr. Diller say often is that the park just transports you to Oz,” Celine Armstrong, Little Island’s project executive, told Insider.
  • See more stories on Insider’s business page.
New York City is already known for its landmark attractions like the Empire State Building, Statue of Liberty, and Central Park.

statue of liberty

But now, a new contender funded by a billionaire TV magnate and a fashion powerhouse’s family foundation has entered the cityscape: Little Island.

Little Island

Little Island is tucked inside of the larger waterfront Hudson River Park, which runs along the West Side Highway.

Little Island

Despite its name, Little Island – and its cost, but we’ll dive into that later – is anything but “little.”

Little Island

The 2.4-acre public park is perched above the Hudson River on Pier 55 …

Little Island

… just a few blocks away from the Whitney Museum of American Art, Chelsea Market, and Google’s second largest office.

Little Island

Source: Google

“[The park is] really important for mental health purposes,” Celine Armstrong, the project executive for Little Island, told Insider. “You need green space, you need people to have a place to relax, and in order to do that, you need private dollars.”

Little Island

The Diller-von Furstenberg Family Foundation, headed by power couple Barry Diller and Diane von Furstenberg, funded the majority of the public park.

Little Island

Diller currently serves as the chairman of IAC and Expedia, but previously ran companies like QVC and Fox.

barry diller

His wife, Diane von Fürstenberg, is a fashion powerhouse with an eponymous fashion line.

sun valley barry diller diane von furstenberg
Barry Diller and Diane von Furstenberg.

The couple’s foundation has previously poured millions of dollars into public parks, and its long list of grantees include the Central Park Conservancy and the High Line.

Diane von Furstenberg

Source: Philanthropy News Digest, The Diller – von Furstenberg Family Foundation

But the foundation’s latest push for Little Island may be the biggest yet: the park is the “largest private public donation to public open space in New York City’s history” …

Little Island

… and the second largest private donation to a public open space in the country, according to Armstrong.

Little Island

The foundation donated $260 million to Little Island, and will continue giving an additional $120 million through the next decade for upkeep and the park’s shows, Adrian Gaut reported for Wall Street Journal.

Little Island

Source: Wall Street Journal

In comparison, the city donated $17 million to Little Island, while the state chipped in $4 million.

Little Island

Source: Wall Street Journal

Diller’s decision to help maintain the park is “unheard of,” Armstrong said.

Little Island

Curbed recently referred to Little Island as Diller’s “big beautiful baby,” and it’s easy to understand why.

Little Island
  1. erstand why. 

Source: Curbed

Diller was so pivotal to Little Island, the project has been called “Diller Island.”

Little Island

Source: The New York Times

“He’s very involved with it,” Armstrong said.

Little Island

His wife, von Fürstenberg, was also involved by attending design meetings. Her attributions can be seen in the most minute of details on Little Island: she picked the bronze handrails, according to Armstrong.

Little Island

Little Island’s history spans back to 2013 when Diller partnered with the Hudson River Park Trust to reimagine Pier 54 – which had been damaged by Hurricane Sandy – as a public space and subsequently, a park.

Little Island

Source: Little Island

The starting team then tapped firms like Mathews Nielsen Landscape Architects’ Signe Nielsen and Heatherwick Studio – which previously designed NYC’s controversial but flashy Vessel – to design and plan the logistics of Little Island.

Little Island

The park looks incredibly similar to its initial concepts, according to Armstrong.

Little Island

She believes this was possible in part because Diller and his family were patient, flexible, and able to fund all of the research and development necessary for the Little Island’s unique design and appearance.

Little Island

The majority of the park’s timeline was consumed by the design process, and not construction: “luckily if the design is good, you can efficiently build it because trades know what they’re doing,” Armstrong said.

Little Island

And after a slew of lawsuits, subsequent intervention from both Mayor Bill de Blasio and Gov. Andrew Cuomo, and issues with rising cost – as reported by the New York Times – the park was finally completed and unveiled to the city’s residents on May 21.

Little Island

Source: The New York Times

“Given how many revolutions this went through, from starting to dying and starting again, I was actually awestruck when I could actually look up and see it,” Diller told the Wall Street Journal. “I walked on [the island] and felt pure, actual joy, which is not something I can say happens very often.”

Little Island

Source: Wall Street Journal

Like most public parks in the city, Little Island is free for all visitors.

Little Island

It’s open from 6 a.m. through 1 a.m., but for now, guests are required to make a reservation for visits after 12 p.m.

Little Island

Luckily, I was able to visit the park a day before it’s grand opening. So let’s take a look inside.

Little Island

New Yorkers driving by on the West Side Highway have been ogling at the park’s unique foundation for many months now.

Little Island

And for a good reason: Little Island is visually unlike any other park in New York City.

Little Island

“What I’ve heard Mr. Diller say often is that the park just transports you to Oz,” Armstrong said. “You are transported into a different place and you have time to just wander around and be amazed at every turn, each pathway.

Little Island

The entire island sits on top of 280 concrete piles, the leftover structure from the pier, and 132 concrete “tulips,” according to a press release.

Little Island
An overhead view of Little Island.

Source: Little Island

The concrete tulips, which are all different shapes, are arguably the most eye-catching feature of the park.

Little Island

They tower above the Hudson River at varying cascading heights, mimicking the flow of the water beneath it.

Little Island

“I love high design and innovation and just pushing the boundaries of what could be built, and this does that,” Armstrong said. “It allowed us to tinker and really collaborate with everyone, so your ego is checked at the door.”

Little Island

From the outside looking in, the park looks like bundles of green foliage and bronze fences atop the concrete, tulip-shaped pillars.

Little Island

And inside the park, it’s unusually peaceful and lush compared to the bustle of New York City.

Little Island

Little Island also offers unique glimpses of the city through varying vantage points.

Little Island

The views of New York City from inside Little Island are unlike any rooftop Manhattan has to offer.

Little Island

Some parts of Little Island offer sweeping views of the Hudson River, while other sections provide a panoramic view of downtown Manhattan and One World Trade Center.

Little Island

These different viewpoints can be accessed by following the winding pathways sprinkled throughout the park.

Little Island

Seating benches and bunches of greenery and flowers also line every walkway.

Little Island

The park has over 350 species of foliage and flowers amounting to 114 trees and over 66,000 bulbs, according to the press release.

Little Island

Source: Little Island

And now that it’s springtime, the flowers are in full bloom, creating a colorful park that contrasts the city’s grey, sometimes drab skyscrapers.

Little Island

Now, let’s take a closer look at the different sections of the park.

Little Island

The “Play Ground” serves as Little Island’s central point.

Little Island

This is where you’ll find your typical park amenities, such food and drink options and seating under the shade.

The Play Ground at little island
The Play Ground at Little Island.

The amphitheater – known aptly as the “Amph” – is located just a short walk away from the Play Ground towards the northwest end of the park.

Little Island

One of the biggest changes from the original design of the park was the addition of this 687-seat amphitheater …

Little Island

… and subsequently, the dressing rooms, prop areas, toilet facilities, and general manager’s office, according to Armstrong.

Little Island

But the amphitheater isn’t the only public stage on Little Island.

Little Island

There’s also a conjoined stage and lawn area known as the “Glade” on the opposite end of the park.

Little Island

Yes, Little Island has two different stages, but that’s because the arts will be a cornerstone aspect of the park.

Little Island

Starting June, the island will have four resident artists and events like concerts, dance, and theater six days a week.

performers at little island
MeenMoves at Little Island.

“Little Island is going to spark inspiration for designers, engineers, general dreamers, and artists,” Armstrong said. “You’re experiencing the environment while you’re experiencing art.”

Little Island

All of this likely wouldn’t have happened without the Diller-von Furstenberg Family Foundation’s donation and work, according to Armstrong.

Little Island

As a result, Armstrong hopes Little Island will encourage more private donations to public parks.

Little Island

“We need private donations for public open space, and this just shows what you can do with private money, Armstrong said. “You can have a bit more control and flexibility to test methods, and that’s how you reach excellence.”

Little Island
Read the original article on Business Insider

Billionaire media mogul Barry Diller calls cryptocurrencies a ‘con’ and says price forecasts are ‘nutso’

Barry Diller
IAC Chairman Barry Diller.

  • Barry Diller, IAC’s chairman, called cryptocurrencies a “con” during a CNBC interview on Friday.
  • Price calls of “$40,000, $12,000” on cryptocurrencies are “nutso talk,” he told “Squawk Box.”
  • Diller made his comments during this week’s crash in bitcoin and other cryptocurrencies.
  • See more stories on Insider’s business page.

Cryptocurrencies are a “con,” the billionaire investor Barry Diller told CNBC on Friday. He voiced his distrust of the asset class that’s been dragged sharply lower this week largely on regulatory concerns.

The chairman of IAC, which runs internet and media brands including Care.com and The Daily Beast, initially balked at the question from “Squawk Box” about his thoughts on digital currency but quickly proceeded to answer.

“Yeah, absolutely,” he said as he confirmed his view that cryptocurrency is a con. “I watch some of the people that you have on and they talk about it – $40,000, $12,000, whatever. I think, ‘This is nutso talk,'” he said.

Diller, also the chairman of Expedia and the founder of Fox Broadcasting, made his comments on the same day that bitcoin swung down 10% after China reiterated its call to restrict mining and trading activities surrounding the largest cryptocurrency.

China’s statement, led by Vice Premier Liu He, threw off course bitcoin’s attempt to recover losses from its slide of more than 35% in a matter of days. A midweek sell-off was sparked after the People’s Bank of China said digital tokens couldn’t be used as a payment form by financial institutions. Other cryptocurrencies, including ether, the token of the ethereum blockchain, were also slammed lower in the wake of China’s regulatory threats.

Diller sat down with CNBC in an interview, during which he called this week’s merger plan between AT&T’s WarnerMedia and Discovery a “great escape” for AT&T.

Next week, IAC is set to spin off the video-hosting site Vimeo, whose shares are set to trade under the “VMEO” ticker on the Nasdaq starting Tuesday.

Read the original article on Business Insider

How Tinder and Hinge owner Match Group grew to have the country’s biggest monopoly on online dating – but let Bumble get away

match group explainer dating apps 2x1
  • Match Group owns Tinder, OkCupid, and every other big online dating site in the US — except Bumble. 
  • Bumble’s CEO, an ex-Tinder executive, sued Match Group’s parent company for discrimination in 2014.
  • Here’s how Match Group went from a failing dating site for Boomers to the country’s largest online dating conglomerate. 
  • Visit Business Insider’s homepage for more stories.

Online dating can be messy. The companies that run online dating can be messier.

Match Group, which started as one lonely Stanford Business School graduate’s attempt to build a less embarrassing way to find love online in the ’90s, has turned into a titan that owns nearly every US dating site.

College campus mainstay Tinder, serious relationship finder OkCupid, and Christian teen dating site Upward all belong to Match Group. Billionaire Barry Diller’s holding group IAC founded Match Group before it spun out the dating conglomerate last year.

Read more: The HR chief of a $10 billion holding company with brands like Vimeo and Care.com shares 3 crucial pieces of advice for recruiting new talent during the pandemic

Bumble, however, is conspicuously absent from Match’s portfolio. Bumble’s CEO, ex-Tinder executive Whitney Wolfe Herd, has a toxic history with the online dating group. 

Ahead of Bumble’s entrance into Nasdaq, here’s the decades-long history into how Match Group became the owner of practically every online dating space in the country.

Match Group was founded in February 2009 after the holding company IAC decided to bundle all dating sites it owned. IAC’s initial purchase of Match.com dates back to the 1990s.

gary kremen match.com founder
Match.com founder Gary Kremen walked away from Match.com with just $50,000.

Stanford Business School graduate Gary Kremen founded Match.com in 1995 to design a meeting place for older professionals looking for long-term relationships, SF Gate reported. 

But Kremen left Match.com in 1996 after butting heads with the firm’s investors. He walked away with just $50,000, Insider reported

Ticketmaster Inc., which had recently been bought out by USA Networks Inc. (later renamed IAC), bought Match.com in 1999 for $50 million. Cendant Corporation bought the matchmaking upstart a year earlier for $6 million, per SF Gate.

During the 2000s, IAC chairman Barry Diller turned Match.com into one of the most successful online dating companies in the US.

Jim Safka
Jim Safka.

Jim Safka, a former ETrade and AT&T executive, took over as Match.com CEO in 2004 after years of stalled growth

Match had grow its subscriber base by 10% just a few months after Safka joined, The Wall Street Journal reported in 2007, partially due to his emphasis on marketing to older demographics. Revenue increased 68% between 2003 and 2006, going from $185.3 million to $311.2 million, D Magazine reported.

During Safka’s leadership, Match became the one of best-performing companies in Diller’s portfolio, per D Magazine.

Barry Diller decided to form Match Group after breaking up IAC into five different companies in 2008.

Expedia chairman Barry Diller.
Expedia chairman Barry Diller.

Diller won a court battle to break up IAC into five companies: the Home Shopping Network; Ticketmaster; time-share company Interval; LendingTree; and IAC, which would include Match.com and Ask.com, per the NYT.

In February 2009, Match Group officially formed, as IAC set its sights on more dating platforms. 

Diller acquired some of the hottest online dating sites in the years following his decision to splinter off Match Group.

okcupid

IAC acquired People Media for $80 million in cash in July 2009, months after Match Group’s inception. Tech Crunch reported the deal included 27 targeted dating sites, including BlackPeopleMeet.com and SingleParentMeet.com, with a combined 255,000 subscribers. 

In 2011, IAC’s Match Group announced another blockbuster acquisition of OkCupid for $50 million. OkCupid differed from other dating sites at the time by skipping the subscription-model and offering services free of charge. OkCupid, geared toward younger people, raised $6 million in funding prior to its acquisition, per TechCrunch.

Today, Match Group’s portfolio of apps includes: 

  • Match, the company’s original app, which is available in 25 countries 
  • Tinder, which lets users swipe through potential matches 
  • Hinge, an app focused on finding relationships
  • POF (Plenty of Fish), one of the largest dating sites in Match’s portfolio and available in over 20 countries
  • OkCupid, which asks users multiple choice questions to determine compatibility 
  • OurTime, a dating app for singles over 50
  • Meetic, which serves European countries
  • Pairs, which serves Asian countries
  • Upward, a Christian dating app for Gen Z and millennials

According to data from mobile analyst firm Sensor Tower, as of 2014, Match Group’s portfolio of apps saw an estimated 56 million installs globally. In the first three quarters of 2020, Match Group reached 82 million installs worldwide, an increase of roughly 46%.

The road to attaining what is essentially a monopoly on dating hasn’t been smooth, and it began with the birth of Tinder.

tinder headquarters
Tinder Headquarters on the Sunset Strip on August 28, 2020 in West Hollywood, California.

Match Group owns a sizable stake in the multibillion-dollar dating app industry, Vox reported, with a report from Apptopia estimating the company has cornered about 60% of the dating app market with its suite of apps.

Match’s acquisition of Tinder fueled its online dating dominance. In 2017, The Wall Street Journal reported Tinder saw a 90% spike in average subscribers year-over-year. A year later, the company doubled its revenue to $805 million.

Match Group has evaded antitrust investigation due in part to lax oversight by the Department of Justice and the Federal Trade Commission, Evan Gilbert wrote in the NYU Law Review in 2019.

Monopolies are also “hard to prove,” and the FTC may not view Match Group as a big threat, Christopher Sagers, a professor at the Cleveland-Marshall College of Law, told Yahoo Finance

In January 2012, Hatch Labs, a startup “sandbox” launched by IAC to incubate mobile apps, hired entrepreneur Sean Rad as general manager. During a Hatch Labs hackathon that February, Rad, who had been considering creating a dating product, worked with developer Joe Muñoz to create the prototype for Tinder.

Sean Rad
Tinder cofounder Sean Rad.

Jonathan Badeen and Chris Gulczynski were hired soon after to help with front-end and design, respectively. Whitney Wolfe Herd was hired by Hatch Labs in May of that year and Justin Mateen was brought in as a contractor. The app was originally called Match Box.

By August 2012, what had been renamed “Tinder” launched on Apple’s App Store. In a few months, Tinder had made a million matches, mainly as a result of marketing heavily to fraternities and sororities on college campuses.

By April 2013, Tinder officially incorporated, with Rad, Badeen, and Mateen considered the company’s cofounders. Rad served as CEO. 

IAC later purchased another chunk of Tinder for a reported $50 million from early Facebook employee and venture capitalist Chamath Palihapitiya.

In 2014, Wolfe Herd, then Tinder’s vice president of marketing, sued Tinder and IAC for sexual harassment and discrimination. Wolfe Herd alleged that Mateen, her former boyfriend, harassed her while she worked for the company.

Bumble CEO Whitney Wolfe

Wolfe Herd alleged that she had held the title of Tinder cofounder, which was later revoked. She also claimed in her suit that Mateen verbally harassed her following their breakup, and that Rad and Match.com CEO Sam Yagan did nothing about. Eventually, Wolfe Herd resigned. 

After text messages between Wolfe Herd and Mateen were published as part of the suit, Mateen was suspended and ultimately resigned. In November 2014, the lawsuit was settled for an undisclosed sum, but reports from the time pegged it at “just over” $1 million

Rad also decided to step down in the wake of the scandal and so IAC could find a more experienced CEO. 

By 2015, Rad was back at the helm of Tinder, just as Match Group went public.

Match Group IPO
Greg Blatt, left, chairman of Match Group, and Sam Yagan, CEO of Match Group and cofounder and CEO of OkCupid, celebrate Match Group’s initial public offering at the NASDAQ stock exchange on November 20, 2015.

Match Group’s stock opened at $12 per share and the company raised roughly $400 million, on the low end of what it hoped to raise with the initial public offering. 

The IPO came shortly after a bizarre interview with Rad in which he discussed his sex life. The article also mentioned Tinder’s number of users, which Rad wasn’t authorized to discuss on the eve of the IPO. (A quiet period prior to an IPO bars executives from publicly discussing certain matters.)

Match Group had to file an update with the Securities and Exchange Commission to clear up any confusion about Rad’s interview. 

One year later, Rad became chairman of Tinder and Greg Blatt became Tinder’s CEO while simultaneously serving as CEO and chairman of Match Group. By 2017, Tinder had merged under the Match Group umbrella. 

In 2018, Rad and nine other Tinder employees sued IAC, claiming IAC purposely undervalued the startup. The lawsuit sought $2 billion in damages.

Rosette Pambakian
Rosette Pambakian, Tinder’s former vice president of marketing and communications.

The group, which included Badeen and Mateen, filed suit against both IAC and Match Group alleging that a lowball valuation was used to reduce the value of early employees’ and founders’ stock options. 

When IAC merged Tinder with Match Group in 2017, the suit argued, Tinder employees’ options in the rapidly growing app were “stripped away,” leaving them with options in Match instead, which was less valuable. 

The suit also argued that Blatt valued Tinder far lower than Tinder’s cofounders believed it to be worth. Additionally, Rosette Pambakian, Tinder’s vice president of marketing and communications, alleged that Blatt had groped her at a Tinder holiday party in 2016.

IAC sought to dismiss the suit, which a New York state appeals court rejected in 2019. IAC also counter-sued Rad for $400 million, alleging he had improperly recorded conversations with his superiors. 

Read more: Tinder and Match Group were a poor match from the beginning, according to the $2 billion lawsuit filed by the dating app’s founders

Starting in 2017, Match Group set its sights on another dating upstart: Hinge, an app focused on finding long-term connections.

In this undated photo provided by Hinge is a page from the dating app. Justin McLeod, who launched Hinge in 2011, thinks that dating apps should be focused on getting people offline. Hinge's tag line is "the app that's designed to be deleted." (Hinge via AP)
Hinge’s tagline is “the app that’s designed to be deleted.”

Match took a share in the app that September, and in June 2018, acquired a 51% stake in the company.

From Match’s initial investment to the following year, Hinge saw a 400% increase in users, particularly on the East Coast of the US. Hinge, which had been described as the “anti-Tinder,” removed the swipe feature from its app and shifted to more fleshed-out user profiles with a goal of helping users find relationships. 

Read more: The CEO of Hinge reveals the 3 biggest changes to online dating that could be here to stay after the pandemic

By December 2019, IAC announced it was spinning off its stake in Match Group. “We’ve long said IAC is the ‘anti-conglomerate’ – we’re not empire builders,” Barry Diller, IAC’s chairman, said in a statement at the time.

Barry Diller
IAC Chairman Barry Diller.

“We’ve always separated out our businesses as they’ve grown in scale and maturity and soon Match Group, as the seventh spin-off, will join an impressive group of IAC progeny collectively worth $58 billion today,” Diller told CNBC in a statement.

By July 2020, IAC and Match Group completed their separation. IAC said that given Match’s market capitalization, it was the largest company IAC has separated in its history. 

Match Group introduced four new board members, including actor Ryan Reynolds and Rupert Murdoch’s third wife, Wendi. 

Match Group CEO of 14 years, Mandy Ginsberg, stepped down a year later.

Mandy Ginsberg

Ginsberg said in a letter to employees she left for personal reasons, including undergoing a preventative double mastectomy and witnessing a tornado demolish her Dallas home.

Former Tinder COO Shar Dubey took over for Ginsberg, and became one of few women of color in chief executive roles at Fortune 500 firms.

Meanwhile, Wolfe Herd had been building a company of her own: Bumble, a dating app aiming to create a comfortable and empowering online dating space for women.

Bumble

Wolfe Herd was reluctant to build another dating app after her experience at Tinder, but Andrey Andreev, the cofounder of dating app Badoo, convinced her. Along with two former Tinder employees — cofounder Chris Gulzcynski and former vice president of design Sarah Mick — they launched Bumble in December 2014. 

Andreev made an initial investment of $10 million and became the majority owner with a 79% stake. Wolfe Herd became CEO with a 20% stake in Bumble, according to Forbes.

Bumble’s basic mechanisms worked like Tinder’s: Users could swipe right on someone they were interested in and swipe left on someone they weren’t, with one catch — only women had the ability to make contact first. 

Wolfe Herd told Insider in 2015 that she wanted the app to empower women and feel more modern overall. 

By the end of 2017, two years after launching, Bumble had amassed more than 22 million users. Match Group came calling.

Whitney Wolfe Herd, Founder and CEO of Bumble

According to a report from Forbes’ Clare O’Connor, Match Group offered $450 million for the startup sometime around June 2017, but Bumble rejected the offer.

The talks reportedly continued after that: in November of that year, both Forbes and TechCrunch reported that Match Group was still trying to buy Bumble at a $1 billion valuation. 

But the spurned acquisition offer was the beginning of a soured relationship between Match Group and Tinder. In 2018, the companies sued each other, launching a heated legal battle that lasted for over two years.

whitney wolfe herd 2018
Whitney Wolfe Herd in 2018.

In March 2018, Match Group filed a patent infringement lawsuit against Bumble, accusing the startup of copying Tinder’s technology, particularly its design and the process for matching users. The suit also alleged that Gulzcynski and Mick stole confidential information from Tinder.

A few weeks later, Bumble filed a $400 million lawsuit of its own, accusing Tinder of copying its core feature that required women to make the first move, which Match Group CEO Mandy Ginsberg had previously said Tinder was planning to introduce.  

Bumble claimed in its suit that Match Group used the acquisition talks to improperly obtain proprietary information about the company and used the lawsuit to make Bumble look less attractive to other potential buyers. 

The two companies reportedly tried, unsuccessfully, to settle. In September of that year, Bumble announced it was taking Match Group to court as well as preparing for an initial public offering. 

In June 2020, Match Group and Bumble announced that they had settled all litigation between them. Details of the settlement weren’t disclosed, but both companies said they were “pleased with the amicable resolution.”

But Bumble has remained Match Group’s biggest competitor and has become a multibillion-dollar behemoth in its own right.

Andrey Andreev whitney wolfe herd
Andreev and Wolfe Herd.

In late 2019, after reports of Badoo’s history of drug-fueled parties and sexist behavior, Badoo founder Andreev sold his entire stake in MagicLab, the umbrella company for Badoo and Bumble, to the Blackstone Group. The deal valued the company at $3 billion.

By July 2020, MagicLab was renamed Bumble and Wolfe Herd was named CEO of the whole company, overseeing 750 employees worldwide. Wolfe Herd has retained a 19% stake in the company.

In January 2021, Bumble filed to go public, revealing that it now has 42 million monthly users. Bloomberg reported that the company could seek a valuation of $6 billion to $8 billion

Now, as the pandemic continues to keep much of the world locked down, singles are flocking to dating apps, helping fuel the growth of both Bumble and Match Group’s suite of apps.

Woman texting mask

Match Group reported better-than-expected third-quarter earnings last November, particularly when it came to Tinder: the company saw revenue growth and an increase in subscribers in the third quarter, despite the pandemic. 

“Tinder remains the highest grossing app in the Lifestyle category in ~100 countries and has grown direct revenue from essentially zero in 2014 to an expected nearly $1.4 billion this year,” the company wrote in its letter to shareholders. 

Match Group also reported in its third-quarter earnings that Hinge subscriptions were up 82% last year and revenue had grown more than 200% year-over-year.

For Bumble’s part, Wolfe Herd told CNN’s Poppy Harlow on the “Boss Files” podcast that there have been some advantages to dating app users during the pandemic.

“More genuine connections are forming out of this, and people are really, you know, being secure in who they’re meeting before that eventual physical meet-up ever begins,” Wolfe Herd said. 

Read the original article on Business Insider