NEW YORK - Hinge, the dating app acquired by Match Group (NASDAQ:MTCH) in 2018, is initiating a trial of a new feature called Your Turn Limits, aimed at combating dating burnout by restricting the number of unanswered messages a user can have. This feature enforces a limit once a user has eight or more people awaiting a response, compelling them to either reply or close the chat before initiating new matches.
The decision to test Your Turn Limits is based on a study by Hinge researchers, which found that 44% of daters experience a lack of responsiveness as a significant challenge in online dating. The feature is designed to encourage users to concentrate on ongoing conversations, thereby fostering quality interactions and increasing the likelihood of setting up dates.
According to Justin McLeod, Founder and CEO of Hinge, the feature maintains the intentionality at the core of the dating experience and addresses the overwhelming and distracting nature of managing multiple online conversations. Hinge's data from 2023 indicates that matches where the first message received a reply within 24 hours were 72% more likely to lead to a date.
Chief Product Officer Stéphane Taine emphasized that the goal of every feature Hinge tests is to facilitate real dates and connections. The app, which prides itself on being "designed to be deleted," has consistently introduced features to improve user engagement and date setup rates, such as prioritizing chats needing a user's reply at the top of the screen.
The test of Your Turn Limits will commence in select global markets this May. Hinge plans to gather user feedback during this phase to refine the feature, with the possibility of expanding its availability later in the year.
The information for this article is based on a press release statement from Hinge Inc.
InvestingPro Insights
Match Group (NASDAQ:MTCH), the parent company of Hinge, has been demonstrating a robust financial performance, with key metrics indicating a solid business foundation. A standout figure from the last twelve months as of Q1 2024 is the company's P/E Ratio, which stands at a compelling 12.58. This metric suggests that Match Group's earnings are priced attractively in the market, especially when paired with the company's near-term earnings growth prospects. This is further supported by the PEG Ratio, which is remarkably low at 0.11, hinting at a potential undervaluation relative to the company's earnings growth rate.
InvestingPro Tips highlight Match Group's strong financial health, with a perfect Piotroski Score of 9, indicating high-quality business operations. Additionally, the company's management has been actively buying back shares, reflecting confidence in the company's future and contributing to a high shareholder yield. These strategic moves are noteworthy for investors considering the company's commitment to returning value.
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As for the real-time metrics, Match Group's market capitalization stands at $8.23 billion, and the company has maintained a strong gross profit margin of 71.83%. These figures underscore Match Group's ability to monetize its portfolio of dating apps effectively, including Hinge, which continues to innovate with user-centric features like Your Turn Limits.
The company's forward-looking approach, combined with its financial strength, positions it well to continue its growth trajectory and adapt to the evolving needs of the online dating market.
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