The OPW/iDate Weekly News Summary.
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:~ TOP ONLINE PERSONALS WATCH NEWS ~:
East Meet East Raises $4M
TECH CRUNCH - Apr 12 - East Meet East, a New York-based matchmaking service focused on connecting Asian people in the U.S., raised a $4M Series A funding round. The money comes from existing backer 500 Startups and new investors Asahi Medialab Ventures, DG Lab Fund, Mobile Internet Capital, internet ad firm Septeni. The startup previously raised $1M in Nov 2016. The company is testing a service in the Philippines with a view to expanding across other Southeast Asian markets, which could potentially include Malaysia, Thailand, Singapore and Indonesia. Beyond the expansion, the company is also working to enable smarter matching.
Match Group Appoints Malgosia Green CEO Of Plenty Of Fish
PR NEWSWIRE - Apr 12 - Green founded and led various consumer and education tech companies in Toronto and has a strong track-record building and leading product and engineering teams. Most recently Green served as the Chief Product Officer of Top Hat, an innovative education technology business where higher education instructors can create content to engage students both in and outside the classroom.
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eHarmony Is Investing In Machine Learning To Make Smarter Matches
WHICH-50 - Apr 9 - eHarmony is using machine learning and data science to figure out its users' preferences to make more successful matches. eHarmony uses two techniques to match singles. The initial match is based on compatibility. This measure is determined by the extensive questionnaire. eHarmony then uses machine learning, which it calls affinity matching, to learn about behaviour on the site as an indicator of what users like. The site currently runs 20 different affinity models.
Vyve Won't Show Profile Photos
COSMOPOLITAN - Apr 12 - A new app called Vyve doesn't show profile photos until after users have struck up a conversation. There is no swiping. The Vyve algorithm matches users based on how they've both answered ice-breaker questions. Chris Moskal, co-founder of Vyve, was inspired to start the app after he realized current dating apps didn't foster deeper connections.
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India Becomes World's Fastest-growing Market For Apps
ECONOMIC TIMES - Apr 12 - The country leads in the most number of mobile app downloads according to App Annie. United States comes 2nd, and China 3rd. The two most popular apps in India by revenue were Netflix and Tinder. India had an estimated 281M daily Internet users in 2017, of which ~30% are women. People are willing to pay for games and there is slowly a subscription culture coming to India.
The Meet Group's Update On Livestreaming Video Progress
BUSINESSWIRE - Apr 9 - "We see momentum in video building," said Geoff Cook, CEO of The Meet Group. "We have begun the rollout of Tagged livestreaming on our shared video platform, and we expect to launch enhanced video monetization on Tagged next month. Additionally, we are ahead of schedule with our plans to bring live video to Lovoo, and we now expect to begin rolling out the feature in a phased approach starting in May." The number of monetizing users continues to increase on MeetMe and Skout. The number of paid gifters increased 36% in March over February. Gifters buy virtual gifts for livestreamers.
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UK-based Digital Identity App Yoti To Work With Indian Dating App Truly Madly
BUSINESS TODAY - Apr 9 - TrulyMadly users will now be able to use Yoti to verify their personal details, such as name and age, which will boost the Trust Score on their profile, giving other daters assurance that the profile is genuine. This is Yoti's first partnership in India after launching its services in the country earlier this month. The app, which has usage for end-users as well as companies, has been downloaded ~500k times so far on Play Store. The company had raised 8M pounds of funding in November and is valued at 65M pounds. The company is targeting India, US and UK markets initially and is looking at sectors of banking and financial services, dating, insurance, peer to peer commerce, for more partnerships.
The League Dating App Debuts In Cleveland
THE PLAIN DEALER - Apr 10 - A handpicked group of 500 Cleveland-area singles, chosen from a wait list of 3,000, received full access to The League dating app and were able to receive their matches selected by the app's algorithm. Every day, members of The League receive the profiles of two or three potential dates on their phones. Send the most interesting person a "heart," and if one is returned, the app opens into a chat function so the two people can arrange a date. The League now has ~1M people on its wait list in 30 cities.
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