Tinder-owner Match forecast hit by rising competition, shares down

) forecast fourth-quarter revenue below Wall Street estimates on Tuesday as it faces stiff competition from rival online dating services, sending its shares down about 15% in extended trading.

Bumble also stepped up by launching its app in India late last year, a market with a huge potential for dating-related services. To fend off competition, Match has boosted its marketing spend on its money-spinner Tinder in emerging markets, including India and Latin America, as well on its other dating services, PlentyOfFish and Hinge.The owner of OkCupid and PlentyOfFish expects current-quarter total revenue between $545 million and $555 million, below analysts’ estimate of $559.3 million, according to IBES data from Refinitiv.

Last month, parent IAC said it intends to spin off its ownership stake in Match Group resulting in the full separation of the two companies.The revenue forecast comes at a time when Match is in the middle of a U.S. Federal Trade Commission complaint related to the company’s certain marketing-related claims.

I’ve never been on Tinder but the icon/avatar is a drop of BLOOD?! Is this for real?!

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