Contributed by: kellyseal on Saturday, November 23 2013 @ 08:44 am
Last modified on Wednesday, May 24 2023 @ 12:32 pm
A few years ago, Match.com became a household name when it comes to online dating. Now that mobile apps like Tinder have gained popularity and people are looking to newer and niche online dating sites like JDate or How About We, people are starting to see what else is out there.
In fact, social media, and Facebook in particular, are becoming players in the game. While traditional sites rely on new sign-ups and static searches, social media-friendly dating sites and apps pull information from a vast pool of active Facebook profiles and introduce you to friends of friends in your network. This has become a big draw for people, because most singles feel more comfortable meeting someone new if they have a friend in common. This is especially true for women, who are sometimes skeptical of the safety of online dating.
According to an article in Wall Street Cheat Sheet, entrepreneurs are just beginning to understand the importance of utilizing social media in industries like online dating, which could mean big revenues in the future. LinkedIn has gained traction in the social media space because the platform focuses solely on job seekers and networkers looking for career opportunities. There is a sense of trust when someone comes recommended for a job by a mutual friend or co-worker, so companies are looking to the service to attract new employees. So why not apply the same principal to those looking for a date?
InterActiveCorp (IAC) is one of the largest publicly traded online dating companies. They own traditional sites like Match.com, Chemistry.com, and OkCupid. However, SNAP Interactive, a new player in the social media space is fast gaining ground. The company is the owner of AYI (Are You Interested?), one of the first dating apps launched using Facebook's social platform. It is currently integrated with 25 million Facebook profiles and has been downloaded and installed over 70 million times, according to its website.
What sets AYI apart is that it came to the market first and has an extensive membership base, so the information they are able to pull from Facebook to help people meet friends of friends is extensive. Search capabilities also include an interest graph which allows people to search according to specific interests and hobbies. In five years, revenues have grown from 425,000 to 19.1 million. Company executives are investing this revenue into new technology to improve the user experience.
The online dating space is still growing, but not surprisingly, it seems to be headed in the direction of social media.