DateTix triples its member base in Hong Kong
Published 07-APR-2016 11:58 A.M.
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
On-demand dating site DateTix (ASX:DTX) today announced that its growth in Hong Kong had nearly tripled month on month from February to March.
There are now over 6100 monthly active members in Hong Kong, a rise of 167% on February figures.
Growth in date listings has also increased to over 4500, a rise of 209%.
The DateTix iOS app which was launched in February and the Android app launched in March have experienced a total of 15,800 downloads.
The launch has gone so well that DateTix has surpassed Tinder on multiple days in Hong Kong App Store download charts across both iOS and Android
DateTix is growing, while others have fallen.
Match Group is currently trading at below its IPO price in November after disappointing fourth quarter results.
Share prices do fluctuate day to day.
While DTX is looking to join Match Group, it is still someway off, however its numbers are encouraging.
It is continuing to monetise its member base through its matchmaking service and events, whilst its expansion strategy through China is almost complete.
“We are excited by the strong growth of the DateTix platform in March,” said CEO and founder Michael Ye.
“The successful launch of the iOS and Android apps in Hong Kong have been very well received, with significant momentum achieved across key metrics. Monthly active members, app downloads and date listings on the platform show significant potential.
“DateTix has begun early monetisation of its member base through its premium matchmaking service with an average selling price of approximately AU$3000 per client. Whilst revenue is relatively small at this stage, the offline matchmaking business provides cash flow for DateTix while it is in the very early stages of scaling up its use base.”
The $18.9 million capped company is now working on the introduction of a localised Chinese version of its app which is expected to be launched in April 2016 and plans to enter mainland China a month later.
Last month it announced the sale of a non-core business service, PRM Cloud Solutions, for consideration of up to $780,000, including a contingent amount for up to $280,000 due in April 2017.
The funds will be used towards technology advancement and further expansion.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.