August 21, 2015 Comments Off on Weekly Featured Company: Tinder
The era of superficial love
Tinder, the hottest dating app today, is something of a phenomenon. For one, it has made looking for a date so much easier. A user can simply swipe pictures of potential matches to the right and the ones the user doesn’t like are swiped to the left. If a match is made or if two users like each other, a messaging function becomes active and gives both users a chance to send a message or continue playing. According to sources, Tinder takes credit for over a billion total matches, with more than 800 million swipes per day. In terms of market share, it has captured 28% of the $2.1 billion dating services market. So what makes Tinder such a hit compared to older dating sites like Match.com and OKCupid? The answer is Tinder mimics real life in the sense that it allows users to choose people they’re physically attracted to. It takes advantage of our natural instinct to gravitate towards people we find physically appealing. So the bottom line is, Tinder’s premise is nothing new. It simply taps an age-old truth about our human nature, albeit superficial: looks matter above all else.
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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