Match Group to exit live streaming services in dating apps, sunset Hakuna app

The company said: “We’ve made the decision to exit live streaming services in our dating apps and to sunset Hyperconnect’s Hakuna app, which provides live streaming services primarily in Korea and Japan. We continually evaluate our portfolio with an emphasis on making strategic decisions that strengthen our overall growth and margin profile and allow us to focus on businesses where we have deep expertise, and we’re confident this is the case with our decision to exit live streaming… We expect that exiting these live streaming services, along with other ongoing initiatives across the portfolio, will result in total workforce reductions of approximately 6% globally, which we expect to result in annual cost savings of approximately $13 million in addition to our previously disclosed expected cost savings from platform consolidation.”