The Scottish Mail on Sunday
500m singletons boost online dating firms
VALENTINE’S Day is not traditionally a great time of year for singletons and it results in many of them turning to dating websites.
A leading player in this market is US giant Match Group which turns over more than £1.3billion a year and owns OkCupid, PlentyOfFish, Tinder,
Hinge and Match.com. It is a long-term top ten holding in fund Rathbone Global Opportunities and was one of the fund’s best performing stocks last year.
With dating apps and websites attracting a rapidly-growing customer base, the future seems bright for the market. James Thomson, manager of the Rathbone fund, says: ‘Around 3 per cent of relationships began online a decade ago – today it is one third. There are 500million singles in the world and about 70million use Tinder. The sniggering is over – online dating is profitable.’