Coronavirus Updates: Endeavor May Cut Epic Games; Tinder's New COVID-19 Strategy

Here are the latest headlines regarding how the novel coronavirus is impacting the Los Angeles startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for the latest updates.

  • Mega talent agency Endeavor seeks sale of Epic games in bid to restructure amid COVID-19
  • Forget swiping left and right on Tinder to meet a match. The app now wants to take you on a virtual date

    Mega talent agency Endeavor seeks sale of Epic games in bid to restructure amid COVID-19

    upload.wikimedia.org

    Hollywood appears to be poised for dealmaking as COVID-19 rearranges priorities and business models. Endeavor Group Holdings Inc., the Tinseltown talent agency and owner of Ultimate Fighting Championships, is said to be close to sell off investments as a way to streamline their overall business. Bloomberg News reported that Endeavor, led by Chief Executive Ari Emanuel, is looking into selling part of its stake of Epic Games. The North Carolina-based video game maker is known for its popular Fortnite franchise, and was once valued at about $15 billion.

    Endeavor built a sprawling empire of media, sports and entertainment assets predicated on the growing value of live events, according to Bloomberg. It operates the mixed martial arts league UFC and stages hundreds of live events all over the world. The temporary pause on such events in most parts of the world has forced Endeavor to lay off, furlough or cut salary for about one-third of its workforce, and prompted credit ratings to downgrade its debt.

    Forget swiping left and right on Tinder to meet a match. The app now wants to take you on a virtual date

    cdn.pixabay.com

    Love in the age of pandemic: Tinder wants to match you to your perfect mate, but also facilitate the first date. The West Hollywood-based dating app told shareholders Wednesday it will launch a video chat function later this year to virtually allow users to meet. The app has an estimated 57 million people who log on to the service globally, all of them swiping left and right before being allowed to contact matches.

    Match group also owns a number of other dating apps including Hinge and OkCupid. Though, the new video function will only be rolled out on Tinder in late summer. Match reported Tuesday that it saw usage growth spike across all its dating brands during the first quarter, and generated more than $544 million in revenue — a 17% increase year-over-year.


    From Your Site Articles
    Related Articles Around the Web

    Subscribe to our newsletter to catch every headline.

    SpaceX launched two NASA astronauts to the International Space Station today, becoming the first company to send humans to orbit on a commercial spaceship.

    The Falcon 9 rocket's liftoff from NASA's Kennedy Space Center in Florida at 3:22 p.m. ET (12:22 p.m. PT) marked a feat that America hadn't been able to perform since NASA retired its space shuttles in 2011: launching American astronauts on an American rocket from American soil.

    Read more Show less

    Lots happened in the L.A. tech and startup community this week. In a rundown of the top headlines, Chief Host and Correspondent Kelly O'Grady takes you through the key stories:

    • President Trump's Executive Social Media Order Could Mean Trouble for Snap, TikTok
    • Startups: Furniture Rental Servie Fernish Raises $10M Series A, Bird Could Thrive Post-COVID
    • Media: HBO Max Launches, Esports Giant FaZe Clan Plans Expansion
    • dot.LA Convenes -- Challenges Women Face with Confidence in a Virtual World
    Read more Show less

    Here are the latest headlines regarding how the novel coronavirus is impacting the Los Angeles startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for the latest updates.

    Today:

    • Facing twin threats, TrueCar lays off 40 percent of staff
    • Netflix buys Hollywood's Egyptian Theatre to stage post-pandemic events, movie premieres

    Read more Show less
    RELATEDEDITOR'S PICKS

    Trending