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Hinge is first dating app to actually measure real world success – TechCrunch

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Dating app Hinge is today launching a new feature aimed at improving its recommendations, based on whether or not matches had successful real-world dates. The feature may also help to address one of the major problems with today’s dating apps: that no one knows how well they actually work. After all, it’s one thing to get matches and have conversations, but it’s quite another to turn those into dates, much less a long-term relationship.

With a new feature called “We Met,” Hinge will ask users a few days after they shared their phone numbers if they went on a date, and, if so, if they’d want to see that person again. This data will be used as a signal to inform Hinge’s algorithms and improve matches, if the user later returns to the app.

During beta trials, Hinge says that 90% of members said their first dates were great, and 72% said they wanted to go on a second.

“Ultimately, if you went on a date with someone and you thought they were great, that’s the strongest signal that we’ve gotten very close to your type of person. So if there are more people like that person, we can show them to you,” says Hinge CEO Justin McLeod.

By “like that person” it’s not a matter of physical appearance or some sort of profile categorization, to be clear.

“You can’t really aggregate people into their component pieces and try to crack what’s someone’s ideal person,” McLeod explains.

Instead, Hinge uses collaborative filtering – people who like X also like Y – to help inform its matches on that front.

With the launch of We Met, Hinge will now know when dates succeed or fail, and eventually, perhaps, why. It also plans to combine the We Met data with other signals – such as, whether users become inactive in the app or delete their accounts, as well as email survey data – to figure out which dates may have turned into relationships.

This is something of a first for the dating app industry, which is today incentivized to keep users “playing” their matching games, and spending money on in-app subscriptions – not leave them. It’s not in dating apps’ financial interest, at least, to create relationships (i.e., heavy user churn).

This influences the dating apps’ design – they don’t tend to include features designed to connect people in real life.

For example, they don’t make suggestions of events, concerts, and other things to do; they don’t offer maps of nearby restaurants, bars, coffee shops, or other public spaces for first dates; they don’t offer built-in calling (or gamify unlocking a calling feature by continuing to chat in app); they don’t use in-app prompts to suggest users exchange numbers and leave the app. Instead, apps tend to push users to chat more – with things like buttons for adding photos and GIFs, or even tabs for browsing Facebook-style News Feeds.

The problem of wasting time chatting in dating apps has now become so prevalent that many users’ profiles today explicitly state that they’re “not looking for pen pals.”

Of course dating apps – just like any other way of meeting new people – will have their share of success stories. Everyone knows someone who met online.

But claims that, for example, Tinder is somehow responsible for a whole generation of “Tinder babies” are hugely suspect, because the company doesn’t have any way of tracking if matches are actually dating, and certainly not if they end up getting married and having kids. It even said so in a recent documentary.

All Tinder has – or any of these companies, really – are anecdotes and emails from happy couples. (And this, of course, should be expected, with user bases in the tens of millions, like Tinder.)

We Met, meanwhile, is actually focused on quantifying real world dating successes in Hinge, not in-app engagement. Longer term, it could help to establish Hinge as place that’s for people who want relationships, not just serial dates or hookups.

The feature is also another example of how Hinge is leveraging A.I. combined with user insights to improve matches. Recently, it rolled out a machine learning-powered feature, Most Compatible, to help provide users with daily recommendations based on their in-app activity.

Hinge says We Met will launch today, October 16, on iOS first. Android will soon follow.

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OnePlus recruits Hasselblad for three-year smartphone imaging deal – TechCrunch

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Imaging has long been the primary battlefield on which the smartphone battles are waged. It makes sense. The thing about smartphones in 2021 is that they’re mostly very good. Sure, there are differentiators, but if you spend a decent amount on a device from any major manufacturer, you’re probably going to get a pretty good device.

But there’s still plenty of opportunity to continually bridge the gap between smartphone imaging and devoted camera systems. And today OnePlus takes a potentially key step in that direction by announcing a partnership with Hasselblad. The DJI-owned Swedish camera maker has signed onto a three-year partnership with OnePlus.

According to a release tied to the news, the pair plan to spend $150 million over the course of the deal, in an attempt to vault OnePlus to the front of the pack. Hasselblad has dipped its toes in the mobile market, including a Moto Z attachment, and has created cameras for DJI drones, but this represents a pretty big move for the 180-year-old camera company.

The first fruits of the partnership will arrive on the OnePlus 9, a new handset set to launch on March 23. The companies promise a “revamped camera system.” The phone will feature a Sony IMX789 sensor, coupled with HDR video and the ability capture 4K at 120FPS and 8K at 30FPS.

Per the release:

The partnership will continuously develop over the next three years, starting with software improvements including color tuning and sensor calibration, and extending to more dimensions in the future. The two parties will jointly define the technology standards of the mobile camera experience and develop innovative imaging technologies, continuing to improve the Hasselblad Camera for Mobile. Both companies are committed to delivering immediate benefit for OnePlus users, while continuously collaborating to further improve the user experience and quality for the long-term.

The deal includes the development of four global labs, including U.S. and Japan locations and:

Pioneering new areas of smartphone imaging technology for future OnePlus camera systems, such as a panoramic camera with a 140-degree field of view, T-lens technology for lightning-fast focus in the front-facing camera, and a freeform lens – to be first introduced on the OnePlus 9 Series – that practically eliminates edge distortion in ultrawide photos.

It will be interesting to see how a company like Hasselblad will take to mobile imaging, though such a deal could be a secret weapon as OnePlus looks to keep on the flagship end of the mobile spectrum against the likes of Apple and Samsung.

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Snapcommerce raises $85M to make over your mobile shopping experience – TechCrunch

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People are not only shopping digitally more than ever. They’re also shopping using their mobile phones more than ever.

And for mobile-first companies like Snapcommerce, this is good news.

Snapcommerce, formerly known as SnapTravel, has raised $85 million in what the company is describing as a “Pre-IPO” growth round to help further its mission of “changing the way people shop on their phones.”

The Toronto, Ontario-based startup has built out an AI-driven, vertical-agnostic platform that uses messaging in an effort to personalize the mobile shopping experience and “deliver the best promotional prices.” While it was initially focused on the travel industry, the company is now branching out into other consumer verticals – hence its name change.

Inovia Capital and Lion Capital co-led the new growth round, which included participation from Acrew DCF, Thayer Ventures, Full In Partners as well as existing backers Telstra Ventures and Bee Partners. The financing brings Snapcommerce’s total raised since its 2016 inception to over $100 million. Its last raise — a $7.2 million round from Telstra and NBA star Steph Curry — took place in 2019.

The startup was founded by tech entrepreneurs Hussein Fazal, whose prior company AdParlor grew to $100+ million in revenue, then sold to AdKnowledge back in 2011; and Henry Shi, who previously built uMentioned and worked at Google, where he helped launch YouTube Music Insights, according to previous TechCrunch reporting.

Snapcommerce co-founders Henry Shi and Hussein Fazal, Image courtesy of Snapcommerce

Snapcommerce launched its first, travel-focused product in 2017. It works by using chatbots to interact with customers via messaging apps such as SMS, Facebook and Whatsapp. But the company also has human agents ready to help if people need more assistance, in the past essentially serving as on-demand travel agents.

Its service is not just for hotels and flights, but also to help people book restaurants and activities too.

“Our focus has been on building that personal relationship,” Fazal said. “Many people end up coming back to us when they travel again.” In fact, over 40% of its sales in 2020 came from repeat customers.

Over the years, the company claims to have helped more than 10 million users globally save over $75 million. It expects to cross over $1 billion in total mobile sales this year.

And now it’s ready to branch out into helping consumers save money on goods.

“When shopping, it’s hard to find the right product and even if you do, it’s hard to find a good deal,” he said. “On a desktop, there’s ways around it. But on mobile, it’s virtually impossible.”

The company turned the corner to profitability three months into the pandemic in 2020, seeing a 60% spike in sales in the second half of the year compared to H2 2019, according to CEO Fazal.

It then decided to re-invest its profits to continue growing the business.

“The profitability during the pandemic gave us confidence that we could turn to profitability whenever we needed to and gave us control of our own destiny, which enabled this fundraise,” Fazal told TechCrunch. “The third quarter of 2020 ended up being our greatest quarter ever.”

The COVID-19 pandemic, naturally, only accelerated its growth as more consumers turned to mobile.

“We believe the next wave of power purchasers will be via mobile,” Fazal said. “Some of the new generation don’t even have desktops or laptops, and they spend all their time on their mobile phone and messaging. So we’re able to be at the forefront.” 

Snapcommerce has an IPO in its sights although no specific timeline. The company did not reveal its current valuation or hard revenue figures. The company makes money by either marking up prices provided by a merchant or charging the merchant a commission.

Chris Arsenault, partner at Inovia and Snapcommerce lead investor, said his firm “tripled up” on its investment in the startup after witnessing its success in the travel space.

“Other companies out there only care about the transaction, and force consumers to look through several services to see if they got the best price, all the while telling them ‘there’s only 2 seats left,’ ” he told TechCrunch. “We believe that consumers aren’t going to accept that type of pressure-selling in the future. And Snapcommerce’s ability to build trust with its customers and service providers has attracted us to them as they are defining what the future of commerce is going to be like.”

Ultimately, the company plans to use its fresh capital to continue to scale with the goal of streamlining the entire mobile search, purchase and fulfillment process and make finding “the right item at the right price as sending a message to a trusted friend.”


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Square buys majority of Tidal, adds Jay Z to its board in bid to shake up the artist economy – TechCrunch

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This morning Square, a fintech company that serves both individuals and companies, announced that it has purchased a majority stake in Tidal, a music streaming service. The deal, worth some $297 million, will Tidal allow artist-partners to keep their ownership in the music company.

Square CEO Jack Dorsey used his other company, Twitter, this morning to explain the deal. Dorsey seemed to expect the transaction to generate skepticism – which it definitely has. In his opening message, he asked a rhetorical question: “Why would a music streaming company and a financial services company join forces?!”

Why indeed. Dorsey’s expectation is that his company can replicate the success of Cash App and other Square products in the world of music. Noting that “new ideas are found at the intersection,” Dorsey argued that the confluence of “music and the economy” is one such point of convergence.

The deal also installs musician and businessperson Jay Z on Square’s board.

Some early reaction to the deal has proved negative. It’s not hard to riff on the seeming-strangeness of Square and Tidal as a pair. And Square has made acquisitions in the past that appeared adjacent and failed to stick. The company bought food-delivery service Caviar in 2014 before selling it to DoorDash in 2019, for example; that Square appears to have made a venture-level return on the transaction is immaterial to the focus argument.

But the bull-case for the Square-Tidal tie-up is easy to make as well. The American fintech just spent a minute fraction of a single percent of its market capitalization on the smaller company, and through its choice to let artists keep their stake, has effectively onboarded a host of ambassadors for its brand.

And Dorsey is not wrong that Square did shake up the commerce game for many offline businesses with its original card reader. Why not take a swing at a part of the economy — music — that has migrated from the physical world to the digital in the past few years, much like small businesses in recent quarters?

Square’s business users, it’s “seller ecosystem,” as it likes to call it, are increasingly digital. In its most recent quarterly earnings report, “in-person only” usage is falling as a percentage of seller gross payment volume (GPV), while “online only” and “omnichannel” GPV are taking up the slack.

Square has a known win in its consumer-focused Cash App service, which reached 36 million monthly actives in December of 2020, up from 24 million in the same period one year prior. You can imagine tie-ups between the music company and the youth-skewing Cash App audience. And having Jay Z at the Square boardroom table will hardly make the company less innovative; he may bring fresh perspective.

And then there’s the question of NFTs, or non-fungible tokens, a new form of digital asset that have recently become the cause célèbre of the cryptocurrency community. Given that Square has a growing cryptocurrency business via Cash App, and has invested hundreds of millions of dollars into bitcoin itself. If there is space in the market for Square to bring music-based NFTs to its larger consumer user base is an interesting question. If the answer is yes, Square could now be in a leading position to create that market.

Perhaps the Square-Tidal deal won’t generate the future growth that Square imagines. But the deal is cheap, snagging Jay Z as a leader is a win, and it’s hard to win by only playing corporate defense.

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