IAC CEO on Facebook’s online dating effort: ‘cannot just uproot us’

Earnings


His sentiments echoed those of Match CEO Mandy Ginsberg who told investors on a Wednesday morning conference call Match isn’t worried about Facebook encroaching on the business. According to Ginsberg, people don’t want to mix their online dating life with the friends-and-family-first Facebook.

In his note to investors, Levin came across as cautious, but resolved and ready to gear up for a fight to maintain dominance in the space.

“Facebook can give up and scrap their dating project anytime, but that’s not an option for us – it’s our life. The only option for us is to help more people build relationships. If we continue to do that better every day, and willingly disrupt ourselves…we will win,” Levin wrote.

“We have a 23-year head start and several months advanced warning, and we’re going to take advantage of all of it,” he added.

As Facebook has had an unofficial reputation for bringing people together “since it was a project in Mark Zuckerberg’s dorm room at Harvard,” Levin said the announcement served as more of a wake-up call to continue to “delight our users” and deliver innovative products.

“A single new competitor, even a powerful one cannot just uproot us — our fate is in our own hands,” Levin wrote.

Shares of IAC and its social business Match Group, tanked earlier this month after Facebook announced it is prepping a separate dating feature to live inside the core Facebook app. The service includes an event-based system for pairing that’s unique to the space.

Facebook’s dating feature will pair users that aren’t already friends, while keeping dating profiles private from friends on the larger platform. But the social media giant has seen its reputation for privacy plunge, amid widespread reports of data leaks.



Source link

Products You May Like

Articles You May Like

The US should break German lock on the European economy
Martin Sorrell says WPP exit was like being ‘hit by the bus’
How to recover your ‘lost’ investment accounts
Oracle earnings Q4 2018
Market in ‘earnings void right now,’ but it will bounce back, says investor

Leave a Reply

Your email address will not be published. Required fields are marked *