👉 Background: Match Group has been in the business of love since the early days of online dating. It's the owner of Tinder, Hinge, OkCupid, and Match.com. And online dating isn't on the fringes anymore.

👉 What happened: In fact, more than 10% of people in committed relationships or marriages met their partner on a dating site or app. And clearly, people are willing to pay the big bucks to find love because Match's quarterly revenue grew 10% from a year ago. Its revenue topped $866 million USD for the year..

👉 What else: While Hinge's user base grew, Tinder's paying users actually fell by 5% but it still managed to grow its revenue thanks to expansion revenue.

What's the key learning?

💡Expansion revenue is the process of upselling and cross-selling new products or features to existing customers. Rather than solely focus on acquiring new customers, Tinder has focused on expanding its revenue from its current user base

💡Rather than solely focus on acquiring new customers, Tinder has focused on expanding its revenue from its current user base. It has added new premium features like unlimited swipes and Tinder Gold subscriptions.

💡So while there was a 5% decrease in total Tinder paying subscribers, Tinder's revenue per paying Tinder user increased by 17% year over year. And as a result, Tinder still managed to grow its overall revenue.

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