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Month: November 2018

Interview with Adam Cohen-Aslatei, Managing Director of Chappy

Posted on November 30, 2018

Chappy adam cohen aslatei1OPW INTERVIEW – Nov 30 – Adam Cohen-Aslatei recently became Chappy's new Managing Director. (see news). A Harvard grad with 5 years at The Meet Group, he's powering up Chappy to become a leader in the gay dating space. – Mark Brooks

What brought you to Chappy and why do you want to help grow Chappy?
I've always been interested in networking and relationship building. Back when I was in graduate school I started a speed dating event series backed by an algorithmic technology. The majority of my career has focused on advertising technology and dating, so when this opportunity was presented, to reinvent and redefine gay dating, I jumped at the chance.

This mission is very personal for me. I came out later in life and I wish I had had access to an app like this. I believe everyone in our community deserves a better way to meet new people and build relationships in an environment that uplifts and empowers. This is the foundation and ambition of Chappy.

What is the most frustrating pain point in online gay dating?
Over and over we hear stories from guys about encountering discrimination, cat-fishing, or just general bad treatment on gay dating apps. Endless torso scrolling and anonymous profiles lead to a lack of accountability and a feeling of being in the shadows. All of our profiles feature a face and a name. Our bios are descriptive and we have a zero tolerance for hate and discrimination. All Chappy members sign a pledge to treat people with kindness and respect. All profiles are verified, stamping out cat-fishing. In a nutshell, we provide a clean environment from which to build relationships with real people.

Can you tell us about the new "Cute & Sexy" scale, and what it does to empower users?
The scale allows our guy to find the type of relationship he's looking for. The type of experience doesn't define the guy, and the same guy may want something Sexy one day and something Cute the next. We consider "Sexy" something that's bold and adventurous, that can be short term or not, but always memorable. Something "Cute" is sweet and could go the distance. This mood based scale empowers our community to find what they're looking for without judgement. We want to help gay guys find great, meaningful relationships for now, or forever.

How is Chappy working to be an ally for the LGBT community?
From the beginning, Chappy's mission included a commitment to building a stronger community. We take that mission seriously and we put our money where our mouth is. We recently started a new partnerships with GLAAD, which has become a fixture of our app, called Chats for Charity. Chappy will make a donation for each new chat session initiated on our platform – and these funds will help support global gay voices. So not only are we building real relationships within our community each day, but our members are also helping the community at-large.

We are finalizing a number of additional partnerships with organizations that build awareness, tolerance, and acceptance of the LGBTQ+ community, and look forward to announcing them soon.

Can you tell us a bit about Chats for Charity and how it works?
Chats for Charity is an easy way for our community to engage with our product while also supporting global gay voices. For each new chat sessions initiated on the platform, Chappy will make a donation to GLAAD. The funds are unrestricted, meaning that GLAAD has the flexibility to allocate them to both urgent issues and long term projects. We need to work together, individuals and companies, if we ever want to end discrimination, intolerance, and prejudice.

What does Chappy do to make sure user are safe to keep the community authentic?
All profiles are verified and profile pictures must contain a face. All of our members must sign the Chappy Pledge, a pact to be kind and respectful, and a vow to not discriminate. We elevate the barrier to register on the app, but that means that guys who are serious about meeting other guys and building meaningful relationships are on the app.

Our algorithm finds the best match for you and a mutual match must occur before anyone starts chatting, increasing the quality of the potential connection. I am always impressed to find such high quality guys on the app, amazing artists, Ivy League students, doctors, advocates, athletes and adventure seekers to name a few. Every kind of guy is on the app, and that's what makes our community so amazing.

What advice would you give to new Chappy user?
I would tell him to be honest, open and authentic. Whether he is looking for something fun and immediate or long term and lasting, he deserves to be treated with respect and with kindness. I believe that we each have a responsibility in our community to uplift each other and treat others the way we want to be treated. Now get ready to meet a great guy!

See all posts on Chappy

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Is Bumble’s $1.1B Valuation for Real?

Posted on November 29, 2018

Bumble logo whitePROFIT CONFIDENTIAL – Nov 29 – The Bumble IPO is set to land sometime before 2019 and will be one of the first pure-play dating apps to enter the market. While no firm date has been set, the company has stated that it is seeking to have the IPO sometime next month. It could, of course, be delayed. The valuation is one delay factor. The company is currently seeking a $1.5B IPO. Some analysts, however, have placed the company as low as $1.1B. The valuation is subject to change, however, as the company is exploring new ways to monetize, namely through advertising. Bumble has jumped to 40M users in 4 years, up from 12.5M in February of 2017. "We are at our annual run rate of $200M for 2018, and we're only in year three. We've been a profitable business since year two," Bumble co-founder Whitney Herd said.

by Stephen Karmazyn
See full article at Profit Confidential

See all posts on Bumble

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First Week of Facebook Dating

Posted on November 29, 2018

Facebook dating screenshotVICE CANADA – Nov 29 – Vice freelance writer Ebony-Renee Baker tested Facebook Dating. After about a week of using it, she grew frustrated with the feature's algorithm. On Facebook Dating users can tap "interested" or "pass" on the profiles that are suggested for them. The app forces users to start a conversation immediately once they "tap" interested. Pretty much immediately after she started using it, she begin getting unsolicited messages on the "interested" page. One day she received 30 messages from guys who she hasn't shown interest in. At this point she is feeling less inclined to go back on the app.

by Ebony-Renee Baker
See full article at Vice Canada

See all posts on Facebook Dating

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‘Digital Smell’ Technology Could Send Odours in Dating Apps

Posted on November 29, 2018

Digital smell detectorMIRROR.CO.UK – Nov 29 – Researchers from the Imagineering Institute in Malaysia have developed 'digital smell technology', that could let you send smells online. Normally, odours are transmitted by airborne molecules that enter your nose. But in this system, the researchers used electrodes in the nostrils to deliver weak electrical currents to simulate smells.

by Shivali Best
See full article at Mirror.co.uk

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IDEA WOW – Malta Edition

Posted on November 28, 2018

OPW – Nov 28 – The first IDEA WOW gathering happened November 24th thru 27th in Malta. The Internet Dating Excellence Association World Officers Weekend was hosted by Mark & Irena Brooks and attended by 8 C level executives and 1 VP from Twoo, 2RedBeans, Christian Cafe, Woo, Jaumo, and New York’s top high-end matchmaker. Where do you want to go next?

Post by Mark Brooks, CEO IDEA

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BharatMatrimony Appoints New CFO

Posted on November 28, 2018

Matrimony cfoTECH CIRCLE – Nov 27 – Matrimony.com, the parent company of Indian matchmaking platform BharatMatrimony, has appointed former Mindtree executive Sushanth Pai as its new CFO. He will replace K Balasubramanian, who is retiring. Matrimony.com was founded in 1997 by Murugavel Janakiraman. Its brands include BharatMatrimony, CommunityMatrimony and EliteMatrimony. The company acquired SecondShaadi in March to consolidate its offering for those looking to marry again. For the Q3, Matrimony reported a 12% increase in revenue to Rs 86.23 crore ($12M).

by Vijayakumar Pitchiah
See full article at Tech Circle

See all posts on Matrimony.com

Summarized by the IDEA team

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InfoEdge India Q2 FY18-19 Results

Posted on November 28, 2018

Jeevansathi logoMONEY CONTROL – Nov 27 – Revenue in Q2 was Rs. 265 crores ($37M), up 18% YOY. Operating expenses were at Rs. 182.5 crores ($25.8M), up 24% YOY. The increase was largely due to marketing expenses and higher product development costs. Operating EBITDA stood at Rs. 82.5 crores ($11.6M) versus Rs. 88.8 crores ($12.6M) last year, a decrease of 7% YOY. The recruitment business and the real-estate business continue to drive growth this quarter. The company kept innovating and expect to gain share in the long run in Jeevansathi matrimony business. Marketing spends in Jeevansathi led to an increase in registrations and paid transactions. Jeevansathi billings grew by 4.2% YOY in Q2 to Rs. 17.9 crores ($2.5M). Revenue grew 3.7% year-on-year to Rs.18.4 crores ($2.6M). Operating EBITDA losses in Jeevansathi stood at Rs. 7.2 crores ($1M) in Q2 FY19 vs. a loss of Rs. 3.6 crores ($509K) in Q2 FY18. ~90% of users access Jeevansathi from the mobile platform.

See full article at Money Control

See all posts on Jeevansathi

Summarized by the IDEA team

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Bumble and Moxy Hotels Launch ‘BumbleSpot #attheMoxy’

Posted on November 28, 2018

BumblespotOUR COMMUNITY NOW – Nov 28 – Bumble is partnering with Moxy Hotels, Marriott International's experimental brand, to host fun and interactive spaces where users can meet their online matches in real life. BumbleSpots are places that have been verified by Bumble as inclusive environments for users to meet, whether it be dating, friendships, or professional networking. Moxy Hotels is Bumble's first nationwide partner to be designated as a BumbleSpot, and more BumbleSpot locations are set to launch across the US and Canada over the next year.

See full article at Our Community Now

See all posts on Bumble

Summarized by the IDEA team

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Taiwan Rejects Same-sex Marriage in Referendums

Posted on November 28, 2018

Taiwan-gay-marriageBBC – Nov 27 – Voters in Taiwan have rejected legalising same-sex marriages in a series of referendums on Saturday. Conservative groups asked whether the current legislation – defining marriage as a union between a man and a woman in Taiwan's Civil Code – should remain unchanged, while LGBT activists asked for to be amended to include same-sex couples. Voters backed the conservative "pro-family" groups. The government said that Saturday's referendums would not affect it bringing in the changes required by the court ruling. The authorities are now expected to pass a special law, without amending the Civil Code. But campaigners fear the eventual legislation will be weaker. One possible outcome could be that gay couples are given legal protection – but not allowed to get married.

See full article at BBC

Summarized by the IDEA team

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The New Breed of Elite Dating Apps Designed for Wealthy Singletons

Posted on November 27, 2018

Luxy iconFINANCIAL TIMES – Nov 26 – Elite platforms are unashamedly catering to professionals, the wealthy, the highly educated and celebrities. The most controversial is Luxy, which described itself when it launched in 2014 as "Tinder, minus the poor people". Luxy declined to provide figures on its profits or revenues, but says it has been profitable since its first year of operation and now has ~2M users. New members must first pass a 24-hour approval process. Only 10-15% are accepted and the company claims that half of its active members earn ~$500K. The Inner Circle, which describes itself as an "exclusive community" was launched in 2012 in the Netherlands. It organises social gatherings for its members, such as polo tournaments, gallery openings or cabaret nights. Members are vetted according to profession, age and the quality of the pictures they submit. The company also declines to share the revenue figures, but says it is profitable, employs ~20 staff and has 1.3M approved members globally. The League, launched in the US in 2015, caters to professionals who are screened based on what industry they work in, their university education and how many LinkedIn connections they have. Toffee, a dating app exclusively aimed at the privately educated, launched in the UK this year. Lydia Davis, co-founder of the app, estimates Toffee will make $10M in revenues in 2019 if the app is as successful overseas as it has been initially in the UK.

by Madison Marriage
See full article at Financial Times

See all posts on Luxy                         See all posts on The League
See all posts on The Inner Circle       See all posts on Toffee

Summarized by the IDEA team

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