Tinder Testing $500 Per Month Service Called Tinder Vault
Contributed by: kellyseal on Wednesday, April 12 2023 @ 11:07 am
Last modified on Wednesday, April 12 2023 @ 11:38 am
Tinder has confirmed it is testing a new ultra-premium service priced at $500 per month, tentatively called Tinder Vault.
According to Fast Company who broke the story, Tinder Vault is offering different perks for the price point, including a 24/7 Concierge Service for those willing to pay. The details about the service are still vague, and the company said they might not offer it if there isn’t the demand, but that remains to be seen.
Tinder’s chief product officer Mark Van Ryswyk said in an interview with Fast Company that the feature is still “in its early days,” and that Tinder could even end up drastically cutting the price. There was no word on when the company plans to release the service more broadly.
“We’re still in this learning mode,” Van Ryswyk told Fast Company[*1] .
The service needs to fulfill a lot of needs since it is priced at about $6,000 per year. This is still much cheaper than a traditional matchmaking service, which could be what Tinder is aiming for with the price point. But according to Fast Company, Vault will be “an amplification of Tinder’s technology,” and the company won’t be adding a team of human matchmakers to the service, unlike many high-priced VIP services. Most likely, some premium features currently available to all users would go away, and be offered only to those with Vault subscriptions.
Fast Company points out that the addition of Tinder Vault could affect subscribers to Tinder’s free service, too. The free service is used by the vast majority of its members, so if they felt pressured to pay because they are losing access to some features they like, overall subscriptions could decline.
In other words, Tinder Vault has to be enticing enough so that more serious Tinder users would pay, but without alienating its current user base.
Van Ryswyk pointed to The League as an example that singles with money and “high intent” would be willing to pay for the service. (Tinder’s parent company Match Group acquired The League last year.) But The League has long branded itself as an exclusive dating app (often with a waiting list), which is quite different from Tinder’s more universal branding. Anyone can join Tinder, and it has become one of the most popular dating apps worldwide, so it doesn’t have that same exclusive feel.
Still, Tinder is trying to increase its revenue and shift its branding from “hookup app” to a more serious dating service. “It’s great to see us start to claim our voice again,” Van Ryskwyk told Fast Company.
For more on this service, check out our Tinder dating app review.