Month: April 2024
Mattr.Social Seeks Investors to Complete Funding for Inclusive Dating Platform
LINKEDIN – Mattr.Social is finalizing its fundraising drive, seeking the last 10% (£33k EIS) of their target. This dating platform, designed to be accessible for people with neurodiversity and mental health conditions, has seen significant growth since its Sep 2023 launch. Investors include Ada Ventures, Bumble, Feeld, Badoo, Bain & Company, Depop, Blend Group, Psychiatry-UK, and Monster Energy.
The Next Phase of Human Evolution – Digital Avatars
SOCIAL DISCOVERY GROUP – Digital avatars are rapidly growing, projected to increase from $19.7B in 2023 to $533.8B by 2032. These virtual personas are becoming essential across various sectors like online dating, gaming, education, and marketing, driven by advancements in AI and graphics. In the online dating sector, SDG Investments' product, Magnet, uses customizable avatars to enable connections based on personality, reducing visual bias and enhancing dating experiences. Key technologies like Apple's Vision Pro and the Second Life Metaverse are further enhancing user interaction with digital content, transforming how we engage online.
Match Group CEO: “Dating Apps Are the Best Place to Find Love, no Matter What You See on TikTok”
QuackQuack Study: Online Dating Trends Shift Towards Serious Relationships and Safety
NEWSPATROLLING – A recent study by QuackQuack involving 12K users debunked myths about online dating. It found that 28% of respondents use dating apps for serious relationships, challenging the notion that online dating is primarily for hookups. The study also revealed that online dating platforms are used for meaningful connections across all city tiers and are popular beyond metropolitan areas. Additionally, 67% of women users cited safety measures as a reason for preferring online dating, highlighting a shift towards more serious and secure online dating experiences.
by Naman Bansal
See full article at NewsPatrolling
Speed Dating Is Making a Comeback
USA TODAY – Speed dating is experiencing a resurgence among Gen Z and millennials, who are seeking alternatives to dating apps. Experts suggest that speed dating offers a more personal way to meet potential partners and is a great option for those looking for genuine connections. Eventbrite has reported significant increases in speed dating events and attendance in recent years. Despite this trend, dating apps continue to be a popular way for people to meet, with a 2023 Pew Research Center report indicating that one-in-ten partnered adults met their significant other online. However, there is a notable lack of enthusiasm for online dating among Gen Z, with only 26% of users between 18 and 29.
Anti-Vaccine Dating Site Unjected Exposes Users’ DMs and Locations
DAILY DOT – The anti-vaccine dating site Unjected exposed user data again, affecting ~36K accounts with leaks including names, birthdates, and locations. Security flaws allowed unauthorized profile and message access. Despite past breaches and fixes, issues persist, raising privacy concerns among users. Unjected's responses have been criticized, and they have yet to notify users of the data risk.
HyperConnect Recruits Former CEO of Twitch Korea as New Director of Hakuna
MK.CO.KR – Hyperconnect appointed Lee Ha-kyung, ex-CEO of Twitch Korea, as the new director for its live streaming service Hakuna Live. This move aims to grow the platform by focusing on creator content and partnerships. Lee brings expertise from his previous roles in gaming and live streaming. Hakuna Live offers high-definition, interactive broadcasts in various categories across 50 countries, leveraging Hyperconnect's technology.
by Go Min-seo
See full article at Mk.co.kr
Pitch Deck Teardown: Queerie’s $300K Pre-seed Deck
TECH CRUNCH – Queerie, a new dating app aimed at LGBTQIA+ folks, wants to raise $300K. The startup shared its pitch deck with TechCrunch. The deck shows promise with its fresh, mission-driven approach. However, it has key areas that need improvement, according to TechCrunch.
- Team Diversity and Expertise: The team lacks diversity and appears overqualified in areas not directly beneficial to a startup's early stages, particularly missing marketing and startup experience.
- Unique Selling Proposition: The app doesn't clearly differentiate itself from other dating apps, missing an opportunity to highlight what makes it unique.
- User Engagement and Traction: Mention of 95 beta testers lacks evidence of meaningful engagement. Confusing timelines and growth projections also detract from the app's perceived viability.
- Financials and Growth Strategy: The financial projections and growth strategy appear unambitious, with insufficient budget for app development and unrealistic user growth expectations.
Analyst: Grindr Is ‘Under-monetizing’ Its User Base
YAHOO FINANCE – Grindr (GRND) has received a Market Outperform rating from Citizens JMP Securities, with a price target of $14 per share. CEO George Arison plans to expand the business beyond dating for growth. Analyst Nick Jones highlights Grindr's potential, noting its industry-leading profit margins and under-monetization of its user base. Currently, only 7% of monthly active users are paying users, compared to an industry average of 15%. This suggests significant room for revenue growth. The stock has risen 70% in the past 12 months, but Jones believes the valuation remains attractive due to its revenue growth and profitability potential.
by Josh Lipton & Julie Hyman
See full article at Yahoo Finance