Swipe right and it’s a match!
16 March 2023
Today, let's talk about our Match bond line (1% of the fund)!
If the name Match doesn't ring a bell, I'm sure some of you are familiar with several of their brands. And who knows, you might have even met your better half on one of their apps. Fifteen years ago, only 3% of married couples met online, compared to 45% today.
Indeed, Match is the pioneer of the online dating concept and the leader in the dating app market. The company owns Tinder, the world's most popular dating app, and other brands like Meetic, Hinge, OkCupid... (just to name a few).
Here are some key figures about Match:
Generated $3.2 billion in revenue in 2022.
Pays between 15% and 30% in commission fees (a huge amount!) to tech giants (Apple, Google) for each transaction made on their platforms, along with other operating costs.
Generated approximately $830 million in operating profit.
Has a new CEO, Bertrand Kim, who is highly focused on cost reduction and streamlining the current business, with no major immediate development projects.
Boasts globally recognized brands.
Faces scrutiny from regulators regarding the monopolies of Apple and Google: Google announced a few months ago that it would reduce its commission rate from 30% to 15%, and the Digital Market Act, effective in Europe in 2024, will require tech giants to allow alternative payment systems.
Ultimately, an interesting profile offering an attractive yield of 7.5% in USD.
Disclaimer
This presentation is a promotional document. The content of this document is communicated by and is the property of Monocle Asset Management. Monocle Asset Management is a portfolio management company approved by the Autorité des Marchés Financiers under number GP-20000040 and registered with the ORIAS as an insurance broker under number 10058146. No information contained in this document should be construed as having any contractual value. This document is produced for information purposes only. The prospects mentioned are subject to change and do not constitute a commitment or a guarantee. Access to the products and services presented here may be subject to restrictions for certain persons or countries. Tax treatment depends on individual circumstances. The fund mentioned in this document (Monocle Fund SICAV) is authorized for marketing in France and possibly in other countries where the law permits. Before making any investment, it is advisable to check whether the investor is legally entitled to subscribe to the fund. The risks, costs and recommended investment period of the funds presented are described in the KIDD (key investor information documents) and the prospectus, available free of charge from Monocle Asset Management and on the website. The KIDD must be given to the subscribers before the subscription. Past performances are not a reliable indicator of future performances. Monocle Asset Management cannot be held responsible for any decision taken or not taken on the basis of information contained in this document, nor for the use that could be made by a third party. The investor may lose all or part of the amount of capital invested, as the funds are not capital guaranteed.
To unsubscribe or for any information request, you can email us at monocle@monocle.lu
