*By Alex Heath*
Tinder’s business is exploding.
The dating app is on track to generate $800 million in revenue this year, its parent company Match Group said this week.
That’s double what Tinder brought in for 2017, and with a profit margin greater than 40 percent, the app is set to make roughly $320 million in profit this year.
Tinder makes money through its two subscription plans, Tinder Plus and Tinder Gold. The pricing for both plans is variable, depending on where in the world subscribers live and their age. Earlier this year, a California appeals court ruled against Tinder in an age-discrimination lawsuit for charging users older than 30 double what it charges younger subscribers.
As Facebook is planning to release its own dating features, Tinder is quickly adding new features. The app aims to appeal to its core millennial audience with a feature for connecting college students that should be available in the coming weeks.
The much-anticipated iPhone 15 is on sale Friday along with the new Apple Watch.
Costco is recalling tens of thousands of mattresses after reports of mold growth.
UK regulators granted preliminary approval for Microsoft to purchase Activision Blizzard.
The WGA said it's resuming discussions with studios.
The United Auto Workers union expanded their strike and will affect General Motors and Stellantis.
A poll showed that a majority of Americans support the recent strikes involving writers, actors and auto workers.
The Federal Trade Commission is suing one of the country's top anesthesia staffing companies for alleged anti-competitive practices.
The Federal Aviation Administration said it's investigating a laser incident when two crews with Jetblue reported seeing them during flights.
Stocks were mixed at the open but Wall Street was heading for a losing week as investors digested the hints that the Federal Reserve could raise rates before the end of the year.
On A Positive Note: 13-Year-Old New Jersey Boy Launches Car Detailing Business
