Category: Clover

Clover Files for Bankruptcy

Posted on August 16, 2023

OPW – Dating app Clover ist kaput. The dating app has filed for bankruptcy and shuttered. See prior news. They raised $13.7m in a SPAC deal in 2022 and $12m in growth capital in 2021. Another entry to our Dead Pool alas…unless someone resurrects them.

Clover

The industry is going through a post covid hiccup stage. Those left standing will be well situated. This is an industry where incumbents who can maintain critical mass beyond primary metros, win. Tough times for a little while. Now is the time to innovate, stay strong, be bold.

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Dating App Clover Inks $157M SPAC Merger

Posted on September 22, 2022

Clover logoLAW360 – FoxWayne has entered into a definitive agreement to combine with dating app Clover for $157.45M in share consideration. Clover is a dating app aimed at Gen Z and millennials with live streaming and other social features. FoxWayne brings ~$13.7M in cash into the deal.

by Danielle Ferguson
See full article at Law360

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This post also appears on InternetDatingInvestments.com

Clover Closes $12M Growth Capital Financing

Posted on February 3, 2021

Clover logo 2021PR NEWSWIRE – Feb 3 – Dating app Clover has closed a growth capital financing of $12M consisting of growth debt from Espresso Capital, and a structured equity investment from an existing investor. In fiscal 2020, Clover generated $19M in revenue from 900K paid subscriptions. Clover plans to use the new funds to accelerate its rapid growth. The app offers a wide range of settings, filters, messaging, and video options. LIVE, the new video streaming service, allows users to watch live streams, start their own stream, chat, and send and receive gifts.

See full article at PR Newswire

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This post also appears on InternetDatingInvestments.com

Clover Dating App Launches New Virtual Dating Feature

Posted on June 24, 2020

Clover logoBUSINESSWIRE – June 24 – Dating app Clover has released a new Live Video Dating service. Privately funded and owner-operated, Clover boasts a 74% CAGR for the past three years and three consecutive profitable quarters. The company is preparing for its first round of institutional financing to fuel its growth.

See full article at Businesswire

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Dating Apps Tend To Connect Neighbors And Friends Of Friends

Posted on June 4, 2018

Clover logoBUSINESS INSIDER – June 1 – Dating apps are increasingly connecting people who live or work close by, have the same commute, or went to college together. Match.com data reveals that 69% of active users set their default distance – i.e. how far away a match can live – to five miles. Meanwhile, dating app Clover found that, in New York City, most matches happen between people from the same borough. Still, Hinge reports that less than half of users set a maximum distance, and of those who do, the average maximum distance is 25 miles.

by Shana Lebowitz
See full article at Business Insider

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Summarized by the IDEA team

Mobile Dating App Clover Raised $7M

Posted on January 17, 2018

Clover logoPR WEB – Jan 17 – Mobile dating app Clover has closed a $7M equity and convertible debenture financing. The round was led by Atlanta based Jackson Investment Group LLC, a private investment firm with ~$1.5 billion of assets under management. Clover is one of the highest rated, top-grossing dating apps in the U.S. The company will use the funds to expand the team, launch new features and accelerate user acquisition. Clover claims 4M mobile users; 80% are in the largest U.S. markets; 75% in the 18-34 age group. With features like on-demand dating and mixers, Clover uniquely focuses on shortening the time between first contact and a real live date.

The full article was originally published at PRWeb, but is no longer available.

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This post also appears on InternetDatingInvestments.

Summarized by the IDEA team

Clover Dating App Is Launching Mixers

Posted on December 22, 2015

Clover mixersBUSTLE.COM – Dec 19 – Dating app Clover sends out various ideas, like "Snowboarding" or "Game of Thrones Night!" and then users respond if they're in or out. With Clover's Mixer idea, it's a group chat that looks like a Meetup RSVP, and is based on mutual interests. Mixers can be used to host offline singles event. Mixers will be available in the beginning of 2016, in the upcoming version 5.0 of the Clover app.

by Natalia Lusinski
See full article at Bustle.com

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Summarized by the Courtland Brooks team

Is On-Demand Dating A Tinder Killer

Posted on August 22, 2015

On demand datingMASHABLE – Aug 18 – Clover, Whim, Pure and HowAboutWe's Tonight app offer on-demand functions which cut to the chase so users can aggressively get on each others' calendars. Clover just closed $2M in funding (bringing total investment to $4M). Close behind Clover is upstart Whim, which launched in LA in 2014. Markedly different from Whim and Clover is the unabashedly more hookup-focused Pure, which is so radical and in-the-moment in its "demand" nature, that there are actually no profiles or Facebook integration. Having raised 10 times less investment capital than Clover ($400K versus $4M), Pure is already cash-positive.

by Mandy Stadtmiller
See full article at Mashable

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Summarized by the Courtland Brooks team

Clover Raises $2M In Funding To Expand On-Demand Dating Business

Posted on July 24, 2015

Clover logoPR WEB – July 23 – Clover, the mobile on-demand dating service, has closed $2Mn in funding. The investment was led by New York based Social Starts with participation from a group of private investors. This brings the total investment in Clover to $4M. The company will use the funds for further expansion. Clover finds users a nearby date and suggests hotspots where the two can meet.

See full article at PR Web

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This post also appears on InternetDatingInvestments.

Summarized by Courtland Brooks Internet Dating Marketing Consulting

New Apple Watch Dating Apps

Posted on May 21, 2015

Clover apple watch appMACWORLD – May 20 – Tinder, OkCupid and Match.com were quickly to introduce a Watch app, but a few other lesser-known dating sites introduced Apple watch apps this month. Clover cuts to the chase with its "on-demand" dating. With two taps, the Clover Watch app finds users a nearby date and suggests hotspots where the two can meet. WatchMe88 works like a radar that detects singles nearby. Apple Watch faces start to glow if two compatible users are close to each other. Another app in development is "Close Encounter". The app ditches the profile photos and focuses on personality. Users get notified whenever there's a match nearby. Jack'd claims to have created the first Apple Watch app for gay guys.

by Oscar Raymundo
See full article at Macworld

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Summarized by Courtland Brooks Internet Dating Marketing Consulting