The OPW/iDate Weekly News Summary.
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:~ TOP ONLINE PERSONALS WATCH NEWS ITEMS ~:
Clover Raises $2M In Funding To Expand On-Demand Dating Business
PR 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.http://www.onlinepersonalswatch.com/new ... iness.html
Dating App iCrushiFlush Raises Funds From IDG Ventures
ECONOMIC TIMES - July 22 - The funds will be primarily used for product enhancement. The company did not disclose the amount. IDG Ventures has invested in companies like Flipkart, Yatra, Newgen, Lenskart, Vserv, Firstcry, Manthan Software and Zivame. iCrushiFlush is a casual dating app that helps connect people around their location.http://www.onlinepersonalswatch.com/new ... tures.html
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'PlentyOfFish' Acquisition Bolsters IAC's Dating App Dominance
SEEKING ALPHA - July 21 - InterActiveCorp now has complete control over the mobile dating app market in English-speaking countries. Meanwhile PlentyOfFish's mobile app is showing strong growth in Brazil, France, and Spain, strengthening IAC's position in these significant markets. Its likely POF's mobile app is generating annual revenues of ~$50 million. Badoo and LOVOO are the largest remaining worldwide competitors, and its likely POF is the #3 competitor worldwide. SeekingAlpha estimates POF is grossing ~$40k per day, a ~30% yoy revenue growth. Annual revenue on iOS in the USA alone is ~$15 million which would make it ~15% of POF's $100,000,000 revenue. Sources suggest that IAC paid 12.8x EBITDA for POF. Mobile revenue likely comprised half POF's revenue.http://www.onlinepersonalswatch.com/new ... nance.html
Happn Launches In Budapest
BBJ - July 23 - Dating app Happn has launched in Budapest. The app counts ~5M users around the world, in cities such as Paris, London, New York, Barcelona, Madrid, San Francisco, Buenos Aires, Santiago, Mexico and Sao Paulo.http://www.onlinepersonalswatch.com/new ... apest.html
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Online Dating In Hollywood
HOLLYWOOD REPORTER - July 22 - Dating in L.A. has always had a bad rap. "Particular to Hollywood are successful businessmen going home with anyone they want — and women getting paid to be pretty," says Talia Goldstein, professional matchmaker and founder of Three Day Rule. "This makes this town more superficial and brutal for the rest of us." Tinder has become part of the daily lexicon. Mark Brooks explains the app's popularity: "What's made it catch fire is that it's fun, and online dating can feel like work. It's brought new heat to the industry and is benefiting everyone," including Tinder president and co-founder Sean Rad, who met his girlfriend Alexa Dell on his own app. "What we've done," says Rad, "is take rejection out of dating." Online dating has seen the rise of the "virtual affair," a romance that ends the minute meeting becomes a reality. Brooks admits digital dating could improve: "We've taught people a new way to meet people. Now we have to teach them how to keep people. People need to reveal themselves more. The future is in combining digital dating with wearable tech, which will allow the sharing of certain personal data: what music you download, where you eat, where you travel." Video also will add authenticity, says dating coach Eric Resnick.http://www.onlinepersonalswatch.com/new ... ywood.html
How The Recent Data Breach Affects Ashley Madison's IPO
MARKETWATCH / WSJ - July 20 - Avid Life Media, which owns Ashley Madison, wanted to raise $200M in an IPO. A recent data breach may hurt the site’s chances of launching a successful IPO anytime soon. "They've hinged their entire existence on privacy," says Mark Brooks, a dating-industry analyst and the editor of Online Personals Watch. "It's definitely going to affect their IPO plans. It’s going to reduce the value of this company. They're going to see their conversion rates hit, their attention rates hit, and see some people leave. People prize their privacy on online dating sites. This is compounded 1,000 times on AshleyMadison.com over a typical dating site." Other dating site companies with IPO ambitions such as The Match Group, will be doubling down on their security measures, he adds. Ashley Madison said it has now secured the site, called the hack an act of "cyberterrorism" and apologized to its users.http://www.onlinepersonalswatch.com/new ... s-ipo.html
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FidelityDating.com Is Anti-Ashley Madison Dating Site
NY POST - July 21 - Fidelitydating.com is a site aimed at "infidelity survivors" seeking other singles who've also been through cheating scandals. With the slogan "Love is precious. Stay faithful," the service is hoping to provide an antidote to popular cheaters' sites like Ashley Madison.http://www.onlinepersonalswatch.com/new ... -site.html
White Label Dating Is Now Part Of Venntro Media Group
WLD - July 21 - Brands under the umbrella of the Venntro Group now include White Label Dating, Global Personals, WooWise, Jiko and more. The only visible change partners will notice is that payments will now show on their bank statement as Venntro Media Group.http://www.onlinepersonalswatch.com/new ... group.html
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