Tinder's owner took a controlling stake in Hinge as it stares down the threat from Facebook
- Tinder owner Match has acquired a 51% stake in Hinge for an undisclosed fee.
- Match first took a stake in Hinge in September last year and has the right to acquire its remaining shares over the next 12 months.
- It strengthens Match's dominance in online dating as Facebook looks to enter the market.
Tinder's parent company Match has taken a 51% stake in dating app Hinge, strengthening its dominance in dating as Facebook looks to enter the market.
Match announced the acquisition on Wednesday, but did not disclose financial details of the deal. It has the right to acquire the remaining shares in New York-based Hinge over the next 12 months.
Match first took a stake in Hinge in September last year and since then, the app's user base has grown more than 400%, with particular gains in "urban" markets on the east coast of the US.
The increase in users was pinned on a redesign, which removed the swipe feature popularised by Tinder, replacing it with a focus on what Hinge calls "real relationships." Hinge has even been described as the "anti-Tinder."
Match's stranglehold on the dating app market is unrivalled. Apart from Tinder, the company owns PlentyOfFish, OkCupid, OurTime, Meetic, and Pairs. Its products are available in 42 languages across more than 190 countries.
The addition of Hinge comes as Facebook plans to take a run at the dating industry. Facebook announced last month that it will offer its 2.2 billion monthly users a new dating service. Like Hinge, the emphasis will be on helping users find long-term relationships and "not just hookups."
Hinge CEO Justin McLeod said: "While our prime focus is on creating the most effective dating service for our members, it’s now time for us to bring that service to more people in the US and abroad."
- Facebook investors claim victory after the firm made a quiet change to avoid another data disaster
- Facebook is going to stop advertising gun holsters and other firearm accessories to children
- 3 important questions from Mark Zuckerberg's Senate hearing that Facebook still hasn't answered