Market Overview

Tinder CEO: Meeting New People Shouldn't Be Limited By Type Of Mobile Device

Tinder CEO: Meeting New People Shouldn't Be Limited By Type Of Mobile Device

One of the biggest factors preventing online dating app Tinder from growing worldwide is the app itself, according to Tinder CEO Elie Seidman.

What Happened

Tinder — part of the Match Group Inc (NASDAQ: MTCH) portfolio of dating apps — is "the world's largest community to meet new people," Seidman told CNBC in an interview. 

The ability to create even more connections shouldn't be "device-driven," the CEO said. In some markets, especially across Southeast Asia, consumers don't necessarily have access to a modern smartphone, he said — or are concerned with the associated bandwidth and other costs with using an app.

Tinder has a solution: a new version of its dating app called Tinder Lite.

The new app will be "all of Tinder but in a lightweight form: less storage, less bandwidth, faster," Seidman said.

Why It's Important

Some cultural differences may exist between a typical Tinder user in Asia versus one in North America, but the element of wanting to forge connections and relationships "is universal," the CEO told CNBC.

What's Next

Tinder Lite will have a few minor "limitations" compared to the core app, but Seidman said the company is working "very quickly" to follow up with monetization elements, including Gold and Boost, he said. 

The CEO briefly discussed the Chinese market, which remains untouched by Tinder. "No current plans" exist to begin operations in China, although it is a market he said the company continues to monitor.

Match Group shares were trading down slightly at $73.29 at the time of publication Thursday. 

Related Links:

Match Group Analyst Projects Nearly 400K Net New Q2 Tinder Adds

Serena Williams Joins Dating App Bumble's Women-Focused Investment Fund

Photo courtesy of Tinder. 


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Posted-In: CNBC Dating Apps Elie Seidman TinderNews Media Best of Benzinga

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