How Hot New Apps Are Changing the Dating Game
With close to 4,000 online dating businesses in the market (including 19-year-old pioneer Match, with nearly 2 million dues-paying members) and industry revenues growing at a modest 3.5 percent annually, startup-minded entrepreneurs might not think online dating sounds like a match made in heaven for them.
Then again, the industry pulls in an eye-opening $2 billion a year, according to market research firm IBISWorld. What smart entrepreneur wouldn’t want a piece of that action?
Add in the opportunity to innovate with smartphone dating apps, and it’s easy to see why a new wave of entrepreneurs hopes they can beat the established firms to the next dating bonanza.
Love at First Site
One new dating app that’s getting a lot of buzz is Tinder. This app presents users with photos of prospective matches found on Facebook and lets them signal interest-or lack thereof-with a simple and demonstrative swipe. A swipe to the right is a thumbs-up; left means better luck next time. This free app is available for Android and iPhone devices and requires a Facebook account.
Lulu is another Facebook-centric app, but for females only. Users can post written descriptions of male friends-sort of like a Yelp for men. The reviewees may be guys they know on Facebook or men who’ve downloaded the Lulu app in hopes of getting positive reviews. Males can read their own reviews and, if they don’t like what they read, opt out of participating. It’s free for Android and iPhone users.
A clear difference exists between relatively lightweight dating apps like these, which could perhaps be better described as flirting apps, and a website like eHarmony, which uses a 400-word questionnaire to try to match suitable mates. But not every dating app takes the superficial approach to matchmaking.
Instamour is a Philadelphia-based startup that aims to bring more depth to dating apps by incorporating video into every profile. CEO Jason Sherman says video profiles give users who are serious about finding a significant other far more information about prospective dates than static photos and written descriptions. (more…)