by Sara Salinas
See full article at CNBC
Month: May 2018
Is Facebook Destined To Be A Dating Site For Old People?
MARKETWATCH – May 5 – Facebook is entering a crowded space: The dating industry is worth ~$3B. A Facebook spokeswoman said the new dating feature will allow users to set up a dating profile separate from their normal Facebook account, and activity on dating profiles won't be shared on the News Feed. Users will not be matched with friends, but rather others who have marked themselves as "single". Meredith Golden, a dating coach, said she believes the new feature will be used largely by divorcees and users over 40. It's not clear, however, whether Facebook will charge for the dating service and, if so, how much.
by Kari Paul
See full article at MarketWatch
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CoffeeMeetsBagel Raises ~$7M
PITCHBOOK – May 4 – Coffee Meets Bagel has raised ~$7 million in Series B funding, per an SEC filing. The funding values the San Francisco-based startup at about $82M. The round comes just as Facebook enters the online dating game. Coffee Meets Bagel, named because matches are referred to as "bagels" in the app, has previously raised ~$10M in equity funding from investors including DCM Ventures, Quest Ventures and Azure Capital. The founding team consists of three sisters, Arum, Dawoon and Soo Kang. The trio famously pitched to Mark Cuban on Shark Tank in an episode that aired in 2015.
by Kate Clark
See full article at Pichtbook
See all posts on Coffee Meets Bagel
This post also appears on InternetDatingInvestments.
Tinder CEO On Data Privacy: ‘We Don’t Sell Data’
YAHOO FINANCE – May 4 – Data privacy remains a hot-button topic for the tech industry, but Tinder CEO Elie Seidman wants to assure users that the data used in their profiles is safe. The one key difference Seidman emphasized between Facebook and his company: Tinder does not rely on advertising and the personal data that comes with that revenue stream. "We don't sell data". As Tinder competes with Facebook's dating service, data privacy may well be one way for the app distinguish itself.
Three Day Rule Expands To Seattle
GEEKWIRE – May 4 – Three Day Rule (TDR) expanded to its tenth city. TDR combines technology with in-person vetting, said Talia Goldstein, who founded the company in 2013. "We meet all of our matches in person, so we're making curated introductions based on off-paper qualities rather than on-paper stats," she explained. Anyone can sign up to become part of TDR's database, which includes 100K members, and be eligible to be matched to paying clients. A paid membership starts at $4,500 for a three-month package and includes vetted matches, professional photography, post-date feedback, and coaching. TDR has raised $2.4M to date. Goldstein said TDR doubled revenue in 2017 and has ~50 matchmakers nationwide, including two in Seattle.
by Taylor Soper
See full article at Geekwire
People Are More Honest On Tinder Than You May Think, Study Says
MERCURY NEWS – May 5 – Researchers at Stanford's Social Media Lab wanted to find out how honest users are with each other. They focused on the so-called "discovery" phase of online dating, when users begin exchanging information and emails. So how often do people slip a few fibs into that critical conversation? Not as often as you might expect, it turns out, according to the study published this week in the Journal of Communication. Two-thirds of the study participants didn't tell a single lie in their attempts to snag a date. Overall, only 7% of the thousands of messages were deceptive.
The Story Of Huggle, A Dating App Acquired By Badoo
STANDARD.CO.UK – May 4 – The social app Huggle was recently acquired by Badoo. Launched in 2016, the app connects people based on mutual places and interests. Huggle was founded by Stina Sanders and Valerie Stark. Stark had moved to London from Russia and was finding it hard to make friends in a new city. She turned to social media, using Instagram's geo-location feature to find people who frequented the same places as her. The two eventually met at the same yoga studio and struck up the friendship that would lead to the app's beginning. Neither Sanders nor Stark had a background in tech but they were able to use Stark's connection to Andrey Andreev, the founder of Badoo, through a previous business partner to get the app started. Huggle was built using Badoo's back-end. This took care of the tech side of things and allowed Sanders and Stark to set about building the business, focusing on marketing and design.
by Amelia Heathman
See full article at Standard.co.uk
Facebook Dating Looks A Whole Lot Like Hinge
by Louise Matsakis
See full article at Wired
China’s 21st Richest Person To Purchase 70% Of Baihe
TECHNODE – May 4 – Fosun International chairman and business magnate Guo Guangchang plans to purchase a majority stake in marriage and dating site Baihe.com for just under RMB 4B ($630M). Baihe.com's shareholders entered into an agreement with Yuanhong Investment to sell 869M shares at a price of RMB 4.6 ($0.72) per share. Guo controls 100% of Yuanhong, which will make him a controlling shareholder of Baihe.com when the deal goes through. There has been no indication as to when the purchase will be concluded. In Dec 2015 Baihe acquired rival dating and marriage platform Jiayuan for $250M. The company then reorganized to become the Baihe Jiayaun Network Group in September 2017.
by Christopher Udemans
See full article at Technode
This post also appears on InternetDatingInvestments.