The Blubber

Per Reuters

Match Group, the owner of Tinder and Hinge, has expressed its desire to exit Russia. The company has announced a timeline, saying it would officially exit Russia by June 30.

Match gave a recent statement regarding their reason for exiting Russia. This makes the company part of many others that have decided to exit Russia altogether.

Match: "We are committed to protecting human rights... Our brands are taking steps to restrict access to their services in Russia and will complete their withdrawal from the Russian market by June 30, 2023."

Other companies that have exited Russia include Spotify and Netflix. Match Group operates some of the most popular dating services, including Tinder, Hinge, and PlentyOfFish.

Friends Fiduciary, a shareholder of Match, said taht the group set an example for others to follow. Jeff Perkins, Friends Fiduciary executive director, gave a statement to Reuters regarding why there was a reason to exit Russia.

Perkins: "It's not a good look for a trusted brand to be continuing operations in a nation where the head of state has been indicted by the International Criminal Court."

NATO has been a strong supporter of Ukraine, and it was recently reported that the alliance had delivered 230 tanks and 1,550 combat vehicles to the country. So far, the alliance has reportedly delivered over 98% of its promises.

NAO was also going to train nine new brigades, which comprised 30,000 troops. Other countries like Sweden and Australia have also taken part in providing armored vehicles to Ukraine.

At the start of the year, Tinder reportedly tested whether its users were interested in a new subscription plan that would cost $500 monthly. Match didn't provide any details, and it remained unclear what services it would provide.

Match CEO Bernard Kim said during a call that the company will continue to optimize its offerings throughout 2023. So far, Tinder has been leading regarding Match's revenue.

See flow at unusualwhales.com/flow.

Other News:

• Tinder, MTCH, is testing user interest in a new $500 monthly subscription plan
• NATO total deliveries to Ukraine: 230 tanks and 1,550 combat vehicles

Resources:

Reuters