Month: October 2016

Paktor Raises $32.5M

Posted on October 31, 2016

Paktor screenshot websiteE27 – Oct 31 – Four months after Paktor raised $10M, Singapore-based social dating platform has announced a new funding of $32.5M, led by K2Global and existing investor, Indonesian conglomerate PT Media Nusantara Citra Tbk. The funds, which bring its total capital to $57.5M, will be used to further expand Paktor's product portfolio into social entertainment arena. Paktor is Asia's Tinder. The app launched in 2013 and claims to have 20M users.

by Yon Heong Tung
See full article at Yahoo! News Singapore

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This post also appears on InternetDatingInvestments.

Summarized by the Courtland Brooks team

LuvByrd Is A Dating App For Outdoor Enthusiasts

Posted on October 31, 2016

Luvbyrd logo bigVERGECAMPUS – Oct 31 – LuvByrd is a dating app for outdoors lovers. Despite originating for skiers, users can choose from many outdoor activities when creating their profile such as camping, hiking, rock climbing, photography, snowshoeing, sledding, etc. It is completely free to use unless users want to see who "likes" them and who has viewed their profiles.

by Emma Elliot
See full article at VergeCampus

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Summarized by the Courtland Brooks team

Match.com’s Profits Down As Britons Turn To Free Dating Apps

Posted on October 30, 2016

Matchcom logo new dec 13THE GUARDIAN – Oct 29 - Match.com operating profits plunged by 80% to £1.6M in the year to 31 December. Turnover was also down more than 10% at £38.2M as apps such as Tinder changed the nature of online dating. "The industry is in a bit of a crusher," said Mark Brooks, analyst at consultancy Courtland Brooks. "The mobile medium has come of age and over 70% of Internet daters in the UK are just using their smartphones. It's an amazing transition that has truly roiled the dating industry. If Match is suffering, their competitors are suffering more."

"Smartphone growth is an opportunity more than a challenge," continues Brooks. "Laggard dating companies that have not created compelling mobile experiences are dying. Most old school incumbents have stumbled in this respect." Research firm Mintel predicts that despite the current upheaval the UK online dating industry will grow from £165M to £225M by 2019.

by Zoe Wood & Sarah Butler
See full article at The Guardian

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Summarized by the Courtland Brooks team

India’s Millennials Are Turning To Home-grown Dating Apps

Posted on October 30, 2016

Indian dating appsTHE NATIONAL – Oct 29 – In India arranged marriages continue to be the norm. A 2013 survey revealed that 75% of young Indians prefer arranged marriages. ~22M Indians use matrimonial sites such as BharatMatrimony, Shaadi.com and Jeevansathi. "India has 100M people over the age of 21 who are looking for partners. For them, matrimonial sites, with parents interfering, are not cool," says Hitesh Dhingra, co-founder of dating app TrulyMadly. TrulyMadly launched in India in 2014. It verifies personal details of its users because fake profiles are a big problem in India. ~3M Indians have downloaded dating app Woo. Woo demonstrates the rise of home-grown dating apps in India. While Tinder is well known, the indigenous online offerings are tailored to Indian cultural needs. Other apps include Aisle, which describes itself as a cross between a dating and a matrimonial app. Another offering is Floh (Find Life Over Here), which operates in 15 cities and five countries.

by Amrit Dhillon
See full article at The National

Summarized by the Courtland Brooks team

Bumble To Launch Business Social Network BumbleBizz

Posted on October 27, 2016

Bumblebizz1OBSERVER – Oct 27 – After launching BumbleBFF, a friend finder for women, the company is moving into professional connections with BumbleBizz, to launch this holiday season. Bumble founder Whitney Wolfe would like Bumble to be Facebook for people you don't know. "It's like the hyper-local version of LinkedIn, but with really clear connections versus missed opportunities," she said adding that BumbleBizz will have in-person meet ups. Similar to Bumble and BumbleBFF, women will make the first move on BumbleBizz.

by Meredith Lepore
See full article at Observer

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Summarized by the Courtland Brooks team

‘Snap’ Trademark Fight Waged Ahead Of Snapchat IPO

Posted on October 27, 2016

Infringement-300x185REUTERS – Oct 27 – Snap Inc, the newly named parent company of U.S. messaging and photo-sharing app Snapchat is facing a new lawsuit claiming it stole the trade name and reputation of an online dating services company Snap Interactive Inc. In a trademark lawsuit filed on Tuesday, Snap Interactive said the harm it is suffering is heightened by Snap's plans to go public next year in what is expected to be one of the biggest tech initial public offerings of the year.

by Eric M. Johnson
See full article at Reuters

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Summarized by the Courtland Brooks team

The League Brings Invite-only Dating App To Chicago

Posted on October 27, 2016

Theleague screenshots1CHICAGO TRIBUNE – Oct 27 – The League, an invite-only dating app, has just launched in Chicago. Of the 2k accepted Chicago members, 9% have an MBA, 5% have a law degree, and 3% have an M.D., the company said. 13k daters are on the waiting list, according to the company. But when they pride themselves on accepting only the cream of the crop, niche apps might have to sacrifice growth for reputation. Mark Brooks, an online dating industry analyst who runs Online Personals Watch, cited services like BeautifulPeople.com and other dating sites that proclaim themselves to be "elite." To grow, "Do you start being not so elite?" Brooks said. "These apps are limited in how much they can grow."

by Meg Graham
See full article at Chicago Tribune

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Summarized by the Courtland Brooks team

Dating App Jack’d To Remain Free Contrary To Recent Reports

Posted on October 27, 2016

ABOJackd logo oct 16UT-ONLINE – Oct 27 – Contrary to a recent Bloomberg report that dating apps are switching over to pay models, Jack'd, a hook-up gay app, says it will remain free. "Our research continues to show that our targeted demographic does not pay for music, games, movies, or dating," stated Phil Henricks, VP of Strategy and Business Development at Online Buddies, the parent company of Jack'd. Jack'd's monetization is through selling ads to corporations. ~60% of Jack'd's revenue comes from Fortune 500 companies, clothing retailers, and the tourism industry, all of whom have run banners on the app in recent weeks. 

See full article at About-Online

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Summarized by the Courtland Brooks team

Elenasmodels.com Displays “Response Rates” In Profiles

Posted on October 27, 2016

Elenasmodels logo oct 2016PRESS RELEASE – Oct 27 – International dating site Elenasmodels.com introduced a "Response Rate" feature in its latest system update. Profiles now display the percentage of replies a user provided to previous requests. Elena Petrova, the founder of Elenasmodels.com, believes that even candidates who prefer to ignore incoming mails may put a bit more effort in the initial communication.

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Summarized by the Courtland Brooks team

Controversial Sugar Daddy Dating Site’s Billboard Gets Removed

Posted on October 27, 2016

Arrangementfinders profileFUSION.NET – Oct 26 – A controversial Texas billboard inviting undocumented immigrants to find their "sugar daddy" on an online dating site – The ArrangementFinders.com – was taken down after getting slammed by a wave of backlash from the local community and media.

by Rafa Fernandez de Castro
See full article at Fusion.net

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Summarized by the Courtland Brooks team