by Sara Ashley O'Brian & Katie Deighton
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Month: June 2024
Elite Matchmaking Services Surge in Popularity Among Women Over 40
FORTUNE – Elite matchmaking, with fees reaching up to $300,000, is becoming increasingly popular, particularly for women over 40. Though it accounts for less than a quarter of a dating industry estimated to be worth $4B in 2024 in the U.S. alone, one-to-one matchmaking has made a pronounced comeback over the past two decades. "People have just gotten more and more comfortable with outsourcing their love life, like they would hire a personal trainer at the gym," says Rachel Greenwald, a U.S.-based matchmaker and Harvard Business School executive fellow, whose elite services command anywhere from $10K to $75K per month and a minimum three-month commitment. New York matchmaker Lisa Clampitt says that there are now ~5K matchmakers in the U.S. alone. "The industry is 100% growing," she says.
Dating Apps’ Hidden Money-Making Strategies, Explained
WALL STREET JOURNAL – The $5B dating app industry is largely dominated by Match Group. But downloads across the industry are falling. Here’s how some apps are shifting to stay competitive, with features that go beyond just dating. Video featuring Mark Brooks, CEO of Courtland Brooks; Shahzad Younas, CEO of Muzz; George Arison, CEO of Grindr; and Whitney Wolfe Herd, Founder of Bumble.
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New AI App Aims to Sweep Dating off Its Feet
PC TABLET – AI is revolutionizing the dating app landscape, with innovations like AI-powered matchmaking enhancing user experiences and refining match quality. Tinder and other apps use AI to assist with photo selection and suggest matches based on user preferences. Specialized AI apps, like iris and Blush, are also emerging. Iris uses machine learning to match users based on preferred facial features, while Blush allows users to interact with AI characters to improve relational skills. However, concerns about AI in dating include reduced personal decision-making and potential limitations in accommodating diverse relationships. Despite these challenges, AI's impact on dating is significant and transformative.
Xdate Has Rolled out AI-Detection Tool to Combat Fake Profiles and Scams
GLOBE PR WIRE – Xdate has introduced an AI-detection tool to enhance online dating safety by combating fake profiles and scams. This technology uses machine learning to identify and eliminate fraudulent accounts, ensuring a more secure environment for users. Reported losses from romance scams exceeded $500M in 2023, a 75% increase from 2022. The AI tool blocks 96% of spam or scam accounts. Xdate is an online dating platform designed to facilitate genuine connections between users. It offers Face-to-Face video calls to verify real connections.
Heyoosh: Israel’s New AI Matchmaking App
ISRAEL21C – Heyoosh is a new AI-based personal matchmaker based in Israel. In Israeli slang, heyoosh means "Hey." Oosh is a suffix of endearment. Heyoosh doesn't ask users to upload dozens of profile pictures and its messaging service doesn't permit image sharing. This allows users to get to know each other's personalities rather than base their decisions on the physical appearance of the other person. With time, the AI-based system learns users preferences and matches them with better potential partner options. A one-month Heyoosh subscription costs $1.99, or 1.99Eur.
Tinder Partners With My Life My Say for Election Campaign
PRESS RELEASE – Tinder and NGO My Life My Say (MLMS) are launching an in-app campaign to inform young singles about the UK General Election. A third of young UK singles value political engagement in partners, with 21% ending relationships over it. The campaign will run until July 3, 2024, and will provide users with vital voting information via a 'Swipe Card.' Research shows 69% of young voters plan to vote, with 60% valuing political respect in relationships. This initiative aims to engage and mobilize young voters.
Julia Meszaros – Overview of the Premium Intl Dating Industry, Trends and Challenges
LTR – Dr. Julia Meszaros, a Premium International Dating (PID) expert, shares insights from her extensive research into this particular segment of the dating industry. She discusses her ethnographic study conducted from 2011 to 2014, during which she took a romantic tour of Colombia, Ukraine, and the Philippines, and interviewed various stakeholders in the industry. Julia highlights the segmented nature of the PID market, noting that tour providers often cater to middle- and upper-middle-class men, while wealthier individuals tend to seek personalized matchmaking services. She also discusses the impact of COVID-19 and the war in Ukraine on the industry, predicting a shift back to Asian markets and an increase in online services and video chat features. Julia emphasizes the importance of understanding the demographics and motivations of PID clients, as well as the industry's movement toward more legal and regulated practices.
The April LTR was kindly sponsored by ParshipMeet Group, RealMe, along with Courtland Brooks and Matchmaker.com
TruuBlue, a Dating App for Progressives, Seeking Investors
OPW – TruuBlue – Where Progressives Meet is a dating app that leverages AI to cater exclusively to socially progressive singles. The app uses AI for:
- Sentiment Analysis – Analyzes conversations with a match and provides a numerical probability of their overall interest and the potential success of a relationship.
- Communications Support – Analyzes conversations and recommends topics for replies.
- Green Flags – Highlights a match's positive attributes, such as quick responses and the use of positive terms.
- Algorithm – Goes beyond profiles and preferences to identify shared interests and ideals for better initial matches.
Based in Boulder, Colorado, TruuBlue is available for download on the Apple App Store and Google Play Store. The app launched with a successful soft-launch campaign in March, gaining 3,000 charter members, and went live in Colorado in June. TruuBlue is currently seeking $300K in funding to drive new memberships in Colorado and expand its user and revenue base. In 2022, TruuBlue raised $500K in seed funding from several angel investors. For more information, contact Dennis Hefter, TruuBlue's Founder, at dennis.hefter@truublue.com.
This post also appears on InternetDatingInvestments.com