December 15, 2014 Comments Off on Dating in the time of tech
Dating with the help of technology has evolved dramatically. From dating websites like Friendfinder.com and OneandOnly.com, to today’s new wave of mobile apps like Tinder, Zoosk and Skout, the business of finding love is constantly growing. According to research, the combination of hard economic times, social media, technology and the rising number of singles, is causing the growth of the online dating industry. According to Juniper Research, globally, the mobile dating market is expected to be worth $2.3 billion by 2016, up from $1 billion in 2011. Statistics have also shown that 33% of couples today have met online and this number is expected to rise to 70% by year 2040. With stats this promising, investors are investing big money in popular startups like Match.com which is now valued at $4.7 billion. Last October, Benchmark made an undisclosed investment and acquired an equity stake in Tinder, which is owned by the Match.com, who’re in turn owned by IAC. Tinder is now valued between $750 million to $1 billion. Other recent funding in the industry includes Hinge’s $12 million round and Paris-based Happn’s $8 million investment round. With an influx of funding, it looks like the immediate future of dating centres around mobile and apps.
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