Canadian Investor: “Online Dating Industry Had Its Day”

CBC – Feb 14 – According to IBISWorld, the number of companies in the dating industry in Canada is expected to continue to expand, by 3.5% this year and 3% the following year. As the stigma around online dating has faded, it's also become a highly competitive and crowded industry. But in both Canada and the U.S., revenue is forecast to grow more slowly over the next five years. In Canada, online and mobile dating revenue is ~$112.7M, just a fraction of what it is in the U.S., at $2.4B, according to IBISWorld. Bruce Croxon, co-founder of Lavalife, was on CBC's Dragons' Den from 2011 to 2014, and currently invests in digital startups through another company he co-founded, Round 13 Capital. But those with a dating service pitch should probably look elsewhere. "When I see start up dating apps come through our door I say interesting, but no thanks," Croxon said. "It is an industry that, to me, had its day."

by Jacqueline Hansen
See full article at CBC

See all posts on Lavalife

Summarized by the IDEA team