Milestones

Coffee Meets Bagel has been overshadowed by its more aggressive competitors (like Tinder), but lately has emerged as a serious, lasting contender in the dating app space. The company is showing its app has real growth potential by securing $7.8 million in a Series A financing round led by existing investor DCM Ventures. Quest Ventures and Azure Capital also participated in the round.

This round of financing is followed by the steadily growing success of an app whose founders like to take things slowly, testing what works in each market (starting with its launch in 2012 to New York and Boston markets) before moving on to the next. Recently, the company expanded from an iPhone-only app to include an Android app as well, opening markets further.

Coffee Meets Bagel sets itself apart by making the dating app experience feel more personal. People are connected through their social networks – through mutual friends on Facebook, for instance – so there is a level of assurance that you can avoid the scammers and fake profiles. Also, CMB users receive only one match per day, avoiding the whole Tinder hook-up potential. Each day, users have 24 hours to message their match, and then a week to set up a date before they vanish into the ethers. The point is to keep the conversation going, instead of just letting messages and matches accumulate while users see who else is out there.

While the design is game-like (you can get “coffee beans” by providing information or referring friends to the service, which in turn can be used to access additional features, like the ability to see who your mutual friends are, or to rekindle the flame with a match you neglected to message in time.) The company also teamed up in certain cities with local businesses to offer discounts to places you could go for a first date, although the growth of the app nation-wide has prevented them from doing this in more than a few major cities.

The additional funding will pay for engineers and developers to help build the core business so it can handle the projected growth in users. While the company hasn’t publicly shared their subscriber figures lately, the interest from investors is telling.

CMB has been compared to dating app Hinge and Are You Interested, which also focus on matches based on mutual social media connections.

The additional financing follows the company’s earlier participation in the TV series “Shark Tank,” where the founders proposed their business plans to celebrity investors in the hopes of gaining additional funding. While they didn’t get it from the TV show’s panel of judges, they have been successful in raising the funds elsewhere.

For those who have been following the trajectory of the phenomenal success of dating app Tinder, for the founders of the app, it wasn’t such a successful match.

Whitney Wolfe was one of the founders of Tinder along with Justin Mateen and Sean Rad, who were the face of the company  as it launched to great success. Then Wolfe and Mateen became romantically involved and when that ended, so did their professional relationship – through reports of abusive behavior and a lawsuit that ended in a $1 million settlement for Wolfe.

The young entrepreneur wants to put all that behind her however. In a recent interview with Business Insider Australia, she addressed the lawsuit, her critics, and the launch of her new dating app Bumble.

Wolfe claims she has moved on, but her history with Tinder is still a bit convoluted. According to Wolfe, she came up with the name and first shepherded the dating app herself by reaching out to students on college campuses, urging them to try it. However, Mateen and Rad have stated that Mateen was the one who brought Tinder to potential users, mainly through the fraternities and his contacts with large social networks at college campuses.

The fight between Mateen and Wolfe got nasty, with text messages back and forth that were exposed in the media. From an outsider’s perspective, neither one of them looked innocent, but in the end, it was a case of he said she said.

Wolfe took her experience at Tinder and decided to try her hand in launching her own female-friendly dating app called Bumble. Although it has the same user-friendly photo-based structure and ease of Tinder, Bumble encourages women to make the first move by giving them 24 hours to reach out to a match before he disappears. (The guys have to sit back and wait for the women to message them.)

Other female-friendly dating apps have come before Bumble with their own spin – like LuLu, which allows women to rate their dates and discuss them with other women on the app. There’s also JessMeetKen, which allows women to promote one of their single guy friends to other women on the site, in order to give them a little endorsement for potential dates. But Bumble is showing promise too, with Wolfe reaching out to college students and encouraging them to give it a try.

“We’re definitely not trying to be sexist, that’s not the goal,” Wolfe told Business Insider. “I know guys get sick of making the first move all the time. Why does a girl feel like she should sit and wait around? Why is there this standard that, as a woman, you can get your dream job but you can’t talk to a guy first? Let’s make dating feel more modern.”

According to Wolfe, 60% of matches on Bumble turn into conversations, and in a little over a month since the launch, there have been more than 100,000 downloads. 

Zoosk may be a leading online dating company, but recent times have proved it isn't smooth sailing even if you're a hit.

Sources told TechCrunch Zoosk laid off 15% of its employees in January 2015, a figure the company has since confirmed. The change was made as part of a larger effort to cut costs in many areas.

This latest news comes after a string of ill omens for Zoosk. The company's founders left their leadership positions at the end of 2014, hinting at trouble that may be happening behind the scenes. Shayan Zadeh and Alex Mehr pulled back from their daily involvement with the company, choosing to become members of the board instead. CFO Kelly Steckelberg stepped up as CEO in the wake of their departures.

Do singles prefer taking selfies or traveling? What city has the highest number of active daters, or at least those who message the most? What height do most women prefer when they filter their matches?

If you like knowing the answers to these kinds of questions – in other words, identifying peoples’ preferences and what are they actually doing when they’re online dating - Match has just presented a wrap-up list of dating stats for 2014, culled from its extensive database. 

Tinder might be taking the dating world by storm, but so far the traditional dating websites like OkCupid and Match have been studying their users and providing us with valuable data about how people actually date, instead of just making assumptions. As it turns out, not everyone is into hooking up or taking selfies despite popular opinion and Tinder. But singles do tend to be visually stimulated. It’s all about the photos.

According to Match.com, 4.8 million photos were added to its site in 2014, and 280 million total were “liked.” It seems the ladies know that men are looking at their photos more than anything else, because straight women topped the list of most photos posted, with an average of 3.6 photos uploaded per woman (compared to Lesbian women and Gay men with 2.3 photos on average, and straight men with 2.8 photos on average).

And what cities are the best in terms of active online daters? Interestingly, Miami subscribers sent the most messages (over both New York and Los Angeles); users in Albany, New York logged in the most; and not surprisingly, those from Anchorage, Alaska searched most frequently outside their city looking for potential dates. Salt Lake City was the runner up, with the second highest number of users looking outside the city limits for love.

As for keywords people include in their profiles, “travel” came in first with over 1,000,000 people using the term to describe their interests. “Down to earth” is another popular phrase used in online dating profiles, with over 232,000 including it in theirs. The word “selfie” appeared in profiles far less often – just north of 5,600 times. Match.com even discovered who included the most hashtags in a profile – (44 hashtags to be exact).

Among the most common words used in profiles: Electrician, Welcoming, Warmhearted, Quickest, and Ladies. Other interesting choices that were among the most popular include crochet, sewing and Cosmetology. (I’m kind of surprised things like “jogging” or “watching football” didn’t make the top of the list, but maybe people are starting to branch out?)

And apologies guys – the height that most of your female Match.com counterparts were looking for was 6 feet. Being tall is definitely an advantage for men.

What’s in store for 2015? I guess we’ll have to wait and see. For more information on this dating service please check out our Match.com review.

Tinder who? Dating app Hinge has been on a slow climb uphill, but is gathering a lot of momentum as it goes. The app has broadened its reach beyond the initial major cities, which helped build not only its user base but also its brand as a serious competitor to Tinder.

This month, the app also made Time Magazine’s “Top 10 apps of 2014,” beating out the sensationally popular Kim Kardashian Hollywood despite the fact it made $100 million this year alone. (Tinder did not make the list.) Time took a dig at Tinder, noting: “Hinge sparked a flame in 2014 as it spread to more and more cities around the U.S…[Its] matchmaking connects to your Facebook account to foster friend-of-a-friend connections, a novel concept in a sea of dating apps that prioritize immediate, nearby and mostly anonymous relationships.”

Now Hinge is launching version 3.2, and due to audience demand is starting to change some of its policies, allowing for greater access to matches. Instead of providing potential matches once a day at noon, you can now view them at your convenience throughout the day. (I’m guessing this is to get people to log in more than once a day as opposed to creating a daily traffic jam.)

Hinge is also offering more matches per day. Unlike Tinder which provides an endless array of matches whenever you log in, Hinge is more particular, mostly because it has a more limited network to pull from – namely, your Facebook social circles. In order for Hinge to match you, you have to have a Facebook friend in common. (This probably encourages users to add more Facebook friends to their network, too.)

The app began in Washington D.C. and made its way to major cities including New York, San Francisco and Los Angeles. Hinge has further expanded its territories in recent months – adding St. Paul and Minneapolis, Omaha, Indianapolis, St. Louis, Miami, Tampa, Orlando, Denver, Seattle, Houston and Austin.

According to a recent article in Wired, the company has experienced 500% growth since January. While it isn’t doing Tinder’s numbers in terms of downloads and number of matches per day, the company feels its more measured growth is a better indication of its potential for long-term success.

What is in store for Hinge in 2015? On December 11th, the company announced that it raised an additional $12 million, which will help its expansion into even more cities, including its first launch into international territory in February, when it debuts in London.

Hinge is definitely a dating app to follow. For more details on this dating app you can read our Hinge review.

Just as Tinder’s founder Sean Rad was at the top of his game, enjoying the enormous success of his dating app Tinder after two short years on the market - and about to announce the new features offered in the latest version of the app - the board has decided to take away his CEO title.

As reported originally in a cover story for Forbes Magazine, Rad has been demoted to President, his management power greatly reduced for a yet-to-be-determined CEO who will take the reins of Tinder from him. According to Forbes, IAC decided that the company needed a more seasoned CEO (“an Eric Schmidt-like person”) leading it and taking it to the next level of a viable, revenue-generating business, as opposed to the young and green entrepreneur who brought Tinder to its current success. And also, preferably not a CEO tainted with scandal.

When Rad first launched Tinder, he did so with a lot of help from his friend and social trendsetter Justin Mateen. By approaching social influencers at universities (such as fraternity leaders), Mateen managed to get a lot of people using the app quickly, so the user base only grew stronger with time and more than a little PR.

Mateen and Rad built up the company together, but the scandal started when Mateen started dating one of their employees. When that relationship went south, the employee decided to pursue a sexual harassment lawsuit based on angry and inappropriate texts she had received from Mateen, and sued the company. She reportedly walked away with a little over a million dollars, but Mateen and Rad seem to be paying a higher price. Rad was implicated because he was the one who stripped her of her VP title and later “wrongfully terminated” her, according to the lawsuit.

But will all this drama derail Tinder itself? Not likely. The company continues to grow, and the revenue plan for its new premium service – Tinder Plus – rolls out this month with two new features for paying customers. The basic Tinder app will remain free.

The new version includes a travel feature called Passport, which lets users journey around the globe, swiping through matches in various cities instead of having to choose one based on their GPS location. The second feature is something users have been requesting from the beginning – an “undo” button that lets them revisit profiles they’d already rejected. Everyone deserves a second chance, right?

The company plans to launch another feature in the near future called “Places,” which will allow users who frequent the same places to meet over the app.

Will Tinder maintain the enthusiasm of its investors and the public at large after Rad steps down? Will customers be willing to pay for the benefits of Tinder Plus? We’ll have to wait and see.