The company’s remarkable growth has been driven by the massive success of its online dating app Tinder, which has added more than 1. Now one of Tinder’s biggest rivals, Bumble, has a powerful new backer. This could spell trouble for Match Group, as Blackstone plans to provide a multibillion-dollar capital infusion for MagicLab to boost its position in the online dating industry as part of a strategy to help develop fast-growing investment opportunities. Unlike many other dating apps, only women can make the first move on Bumble, initiating the conversation that could eventually result in a date. The site also allows users to create and expand a business network via Bumble Bizz or expand their social circle through Bumble BFF. Earlier this year, Bumble revamped its corporate structure into a holding company — MagicLab — home to a group of successful dating apps including Bumble, Badoo, Lumen, and Chappy. Blackstone plans to bolster Bumble’s competitive advantage by accelerating its expansion in new geographical markets to take on Match while also increasing the utility of its nondating features. Later, things turned ugly when Match Group filed suit against Bumble on charges it illegally copied features from Tinder.
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Bumble’s Change in Ownership Might Spell Trouble for Match Group
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Trump cracks down on Epic Games investor Tencent, TikTok owner
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By the end of September, the American social media landscape will undergo a profound transformation, and we cannot yet map this new terrain. This is a worthy goal, but his fitful approach undermines this objective. Instead, the U. While Chinese platforms like TikTok currently present the most pressing use cases, they are only the preface to a much longer plot.
Without a smarter approach, American policy will fail to successfully confront fast-growing, foreign-owned digital platforms with systemic data and information security vulnerabilities. Prior to any future executive orders aimed at Chinese companies, the president — with input from the secretaries of state, commerce, and Treasury — should articulate a set of principles-based criterion for this framework. American policymakers on both sides of the aisle are justifiably disturbed by its data security risks and Communist Party of China-influenced information control and censorship.
This consists of American consumer data collected by TikTok when they use the app.
Immersive Labs, a Bristol-based startup founded by a former GCHQ researcher, raises $8m
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