Why Match Group Stock Was Up 14.2% in September
Shares of online dating conglomerate Match Group (NASDAQ: MTCH) were up 14.2% in September, according to data from S&P Global Market Intelligence. The company, which owns some of the most popular dating apps in the world, could see a huge reduction in expenses after the latest legal rulings on Apple's and Google's mobile application stores.
Match Group owns popular dating apps like Tinder, Hinge, and OK Cupid. The company makes money by charging users for upgraded features or subscription products for these dating marketplaces. Since these payments are almost all made through a mobile device, Match Group has had to pay as much as 30% of its revenue out to Apple and Google, who force developers to use its payment system and blocks them from sending users outside the app store to pay. However, that may be changing after a California judge ruled that Apple is not legally allowed to block a company like Match Group from avoiding its payment toll.
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Source Fool.com
