Playing cupid on the internet can be a lucrative business.
In 2015, IBISWorld valued the dating industry in the US alone at US billion.
While women can seize these coincidences for free, men have to pay to send “charms”, which are a way of letting someone know you like them.
Happn CEO Didier Rappaport told London’s last year that no algorithm will make people fit with each other.
By using geo-locational technology on your smart phone, Happn connects users with other users as they pass each other on the street, as long as they’re within a certain radius of one another.
The site, which has raised US$22 million since its launch, says it allows people to “seize everyday coincidences” and “avoid missed connections”.
Heysen says that while Tinder opened up the online dating market to a new breed of apps, the company is still finding its feet.
He thinks the challenge now for Tinder revolves around people’s motivation for using the site.Match Group, the online dating behemoth that owns the wildly popular Tinder, as well as other matchmaking companies such as Ok Cupid, and Plenty Of Fish, raised almost US0 million in its initial public offering late last year.Based on the IPO price, the group has a market value of about US.9 billion.“It’s very mobile centric, and we’ve had to smarten up our mobile products – that’s been a very big focus for us,” he says.“People are certainly leaning toward those devises so much more and they want instant results and ease of use.Even without Tinder, we’ve been focusing on [these aspects ] for the past couple of years because we knew that it was coming.” Online dating services have traditionally relied on two different business models – subscriptions and advertising.