Match Group Buys 51% Ownership Stake In Hinge

(RTTNews) - Match Group Inc. (MTCH) announced that it has acquired a 51% ownership stake in Hinge, the New York City-based relationship app. Match Group has the right to acquire all the remaining shares of Hinge within the next 12 months. Additional terms of the transaction were not disclosed.

Match made its initial investment in Hinge in September 2017, following a product redesign that eliminated the 'swipe' feature and enhanced the focus on real relationships. Since that redesign, Hinge's user base has grown by more than 400%, with meaningful traction in key urban, East Coast markets.