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Is the Chinese Dating App Momo Eyeing A US IPO?

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  • Sunday, May 25 2014 @ 09:31 am
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  • Views: 2,426

Launched in August 2011, Chinese dating app Momo was one of the first location-based mobile apps in China. Like its American counterparts, the app allows members to upload personal information and photos, then locates the positions of other users in the area. And, again like its American counterparts,  Momo is plagued with a reputation for being a service for one night stands. Though Beijing Momo Technology Co. claims the app's purpose is to assist users in making friends and broadening their social networks, its salacious reputation just won't go away.

Despite being thought of as “a magical tool to get laid,” BMT is now working with banks including Morgan Stanley and Credit Suisse Group AG for the IPO in US, which Wall Street Journal reports is likely to happen later this year. According to WSJ, Momo was recently valued at around $1.2 billion in private fundraising. An earlier fundraising 1 1/2 years ago put Momo’s market value at just $500 million. The app seems to be on the right track, whatever reputation it has.

Match.com is Marketing to a New Generation with MatchMade Scholarship Contest

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  • Tuesday, May 20 2014 @ 07:05 am
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  • Views: 1,557
Online dating has been around for a while. And plenty of couples met over a dating website years ago, got married, and now have children. So it makes sense that one of the most established of these - Match.com - might want to prep the new generation when they start online dating. Why not use Mom and Dad as an example for what really works when it comes to love?

It’s not surprising the company is marketing to a new generation of online daters, considering the growth of the online dating industry. Last year, a report came out from a Harris poll that stated more than one in three American couples that got married between 2005 and 2012 met online.

Match.com was quick to jump on that study, touting its matching services for their own successful couples.

Match.com is one dating site that has stood the test of time, and managed to grow its user base over the years despite the onslaught of competition. This month the online dating giant announced its “MatchMade” Scholarship Contest, a $50,000 program open to kids of parents who met on Match. Launched over 19 years ago, Match claims it has led to more dates, more relationships, and more marriages than any other site. The company also says that over one million babies were “made” because of Match, so the company will continue to positively impact the lives of its members by offering a scholarship to the children of its success couples.

Match’s contest revolves around creative story-telling and social media sharing. The campaign kicked off with a video of young kids sharing their thoughts on everything from marriage to careers and college – but mostly about love and babies. The MatchMade scholarship contest is open to students between the ages of 13-20 nationwide, so it’s targeting an older demographic that will be ready for the dating pool soon.

To enter, students must submit a short video retelling their parents’ Match love story in a creative way - from their first messages exchanged on Match to the moment they knew they were meant for each other. Match will accept submissions through June 30, 2014, after which the company will select a group of finalists. In August, the public will choose the winner by sharing their favorite videos via Facebook and Twitter, and the winner will be awarded a $50,000 scholarship. The parents of the winner are part of the competition, too - they will be given $5,000 to put toward a getaway.

“Success on Match takes many forms, but of course there’s a special place in our hearts for the children involved in our members’ lives,” said Sam Yagan, CEO of Match. “By bringing their parents together, we’ve played a small role in the lives of more than one million MatchMade babies, and now with the MatchMade Scholarship Contest, we’re excited to extend that special relationship to helping those children pay for college.”

CreepShield Will Tell You If Your Latest Online Crush Is A Creep

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  • Monday, May 19 2014 @ 10:35 am
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  • Views: 1,898

What’s one of the biggest reasons online dating detractors say the Internet is no way to meet a decent date?

The high creep factor, of course. And to be honest, anyone who has tried online dating for more than a day would probably find it difficult to totally disagree. Online dating is an incredible innovation, but there’s no denying it comes with its fair share of strangeness.

A little weirdness is either entertaining or mildly irritating, but what if it goes beyond “a little?” That’s where CreepShield comes in, a new service that helps users avoid the creeps and the crazies online using facial recognition technology .

"Criminals often hide behind aliases online, but CreepShield uses facial recognition software to check for facial similarities and brings up potential matches from a database of over 475,000 registered sex offenders," explained CreepShield's creator Kevin Alan Tussy. "We see facial recognition as a tool that can definitely help make online dating safer. While this technology can't identify everyone out there with bad intentions, it's a huge step in the right direction."

To use the service, simply copy the URL of any headshot and paste it into the CreepShield search engine. The photo is instantly scanned against images in a database of convicted sex offenders, looking for a match. In addition to CreepShield.com, there is also a CreepShield Chrome extension if you prefer to research dates on the fly. Once installed, the extension allows users to right click on any jpg, png or gif displayed in the browser and select "Scan with CreepShield" from the dropdown menu.

CreepShield was developed by the team responsible for the extremely controversial Google Glass app "NameTag." The app and its powerful facial recognition technology were big news earlier this year when Senator Al Franken publicly requested that its release be delayed. With that project put on the backburner, CreepShield came to the forefront.

It’s an intriguing idea, and it’s hard to argue with something that could make online dating safer, but the service still has a few kinks to work out. The site’s FAQ stresses that, due to the way facial recognition technology works, CreepShield can’t guarantee its matches. “It is always up to the user to decide whether or not a searched photo contains the same individual as the results presented,” the site reads. And indeed, when put to the test, it seems the searching method leaves something to be desired.

What do you think? Would you use CreepShield to get the deets on a date?

Hinge launches in Los Angeles

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  • Saturday, May 17 2014 @ 01:01 pm
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  • Views: 2,706

Move over Tinder, there’s a new Facebook-based mobile dating app in Los Angeles.

Hinge likes to call itself the “anti-Facebook” for good reason. Instead of relying on GPS and matching whoever happens to be close by, Hinge tries to connect you to potential love matches through your Facebook friends and their networks. So, you’re not meeting “randos” like you might through Tinder.

Recently, The Huffington Post interviewed the founder and CEO of Hinge Justin McLeod, who mentioned that Tinder didn’t even exist when he was developing Hinge. Because of the app’s slower roll-out to the major cities – first in Washington D.C. and next in New York, and a lot of word-of-mouth advertising - many people have caught on and downloaded it before it was even available in their cities, including 6,000-7,000 L.A. singles.

When asked what the main difference is between Hinge and Tinder, McLeod says: “It’s interesting because Tinder started in LA, and I think it’s one of the places where it’s worn out the quickest. From what I hear, people thought it was cool when it started, but people burned through all of their matches and now the quality has gone down. I think [with Hinge] we have a great long-term solution for that because we have a curated app that gives you a limited number of matches each day.”

The app skews a little older and more professional than your typical Tinder users, too. Ninety percent of users are between the ages of 23 and 36, and 99% are college-educated. Most work in either consulting, banking, law, tech or media. McLeod believes the entertainment and legal industries will be strongest in L.A.

The best part? Hinge doesn’t seem to be loaded with guys looking to get laid. In fact, women comprise a little more than half the users at 50.2%, whereas 49.8% of men are using the app. It is a more equal distribution. (Hear that L.A. guys?)

According to Hinge’s website, there are many reasons to go with Hinge rather than relying on Tinder or the bar scene. It states that “if you meet someone at a bar vs. through friends, your date is 5 times more likely to lie about his relationship status, 14 times more likely to lie about his age, and four times as likely to have a one-night stand and never call you again.”

While these are good selling points for Hinge, there are still problems the dating app is working out, like how fast people can move from being matched to actually communicating and setting up a date. Because Hinge only matches you with a maximum of 15 people a day, you’re less likely to go through all of your connections. However, it makes the communication process a lot slower – with Tinder, it’s easier to sort through matches and meet up quickly.

Hinge is now available to L.A. residents, and is free to download. If you are interested in this service you should check out our new Hinge review.

eHarmony Broadens its Scope to Personalized Matchmaking

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  • Saturday, May 17 2014 @ 10:57 am
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  • Views: 1,996

eHarmony recently launched a new service called eH+, which provides professional matchmaking for those willing to pay a fee for more personalized service. Now, the company is introducing Ashley, the matchmaker behind the new service.

Before you start envisioning sessions with Patti Stanger and some TV-worthy drama, Ashley is much more focused on understanding her client’s perspectives. She finds out where they seem to be running into roadblocks in their love lives, and what might be holding them back. She works with them through one-on-one conversation, feedback, and a focus on finding a mutually beneficial relationship.

According to eHarmony, Ashley’s focus is to create a great connection with her clients so that she’s better able to help you find a long-term, lasting relationship. She’s earned Master’s degrees in Marital and Family Therapy and a Doctorate in Psychology, so she’s trained to work with people to help cultivate healthy relationships.

So what does all of this personal service cost? It’s not cheap at $5,000 per year. But if you really are focused on finding the right relationship and you don’t want to spend hours in front of your computer pouring over profiles and sorting through all of eHarmony’s guided communication, this might be for you.

In fact, with eH+ you don’t even need a computer. You can talk to Ashley via phone or Skype (or however you prefer). She also calls you when she finds a match for you. It’s a good option for busy professionals who are looking for a little more personalized service, like hand-picked matches and follow-ups after dates.

eH+ sounds similar to traditional matchmaking services that provide one-on-one support to their clients, but instead of relying on a smaller pool of people, eHarmony can pull from its vast database to find you quality matches. In essence, eHarmony’s matching system is still doing the technical work of sifting through thousands of profiles to find the right matches for you, and the professional matchmaker is providing an extra level of service to help you improve your dating skills and connect with the person who is the best match.

According to eHarmony founder Neil Clark Warren, eHarmony has now 762,000 paying members, up 50% from last year. They won’t disclose how many people have signed up for the eH+ service, but Warren claims there has been great response.

eHarmony has its sights set to the future, though – and they are moving beyond the dating world. The company’s next focus is matching people with the right job. “Sixty-five to seventy-five percent of people in US are not happy with their job,” according to Warren. “They can be if they match on both the cultural basis with the company they work for and on individual personality basis with the person to whom they report," he said.

A new kind of LinkedIn based on eHarmony matching? I’d be curious to check it out.

To find out more about this dating site you can read our review of eHarmony.

Zoosk: The Netflix Of Dating?

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  • Monday, May 12 2014 @ 06:57 am
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  • Views: 1,566

Zoosk just filed for IPO last month, but already the hype is huge. Upon the announcement of its plans to go public, Zoosk was dubbed ‘the Netflix of dating’ by the media and investor interest shot through the roof.

The "dating services" industry was valued at $2.1 billion in annual revenue by IBISWorld in September 2013. 68.7% of that figure comes from online and mobile dating services. IBISWorld predicts that the market as a whole will grow by 5% over the course of the next four years. The biggest players in the industry are names that are familiar to everyone, whether or not they have ever used the services: Match.com, OkCupid, eHarmony.

Zoosk may be smaller, but it’s no slouch. The online dating platform has over 26 million members, including approximately 650,000 subscribers across 80 countries. Zoosk’s membership grew from 18 million in 2012 to its current numbers, while the number of paying subscribers over the same period grew from 483,000 to 650,000. The company anticipates continued revenue growth based on its unique business model that’s similar to Netflix or Pandora.

What Zoosk has in common with those two Internet giants is its complex proprietary behavioral matchmaking engine. The technology analyzes your behavior on the site – from who you click yes on to who you linger on a little longer before saying no – to get to know you better (possibly even better than you know yourself). By tracking your actions on the website and evaluating your preferences based on it, Zoosk hopes to be able to anticipate your love life's every need, in the same way that Pandora guesses what kind of music you’ll like and Netflix suggests movies it thinks you should watch.

Of course, the stakes are a little higher when you can't just press pause or hit a skip button when you're not satisfied with the choice. Still, Zoosk is thriving. At the end of 2013, it was the highest grossing dating app and one of the top 25 highest grossing iPhone apps of the year. With a 2.9% market share, according to the IBISWorld report, Zoosk is one of the biggest players in the game.

That being said, Zoosk is not profitable. The company posted net losses of $2.6 million last year and admitted that it “may not achieve or sustain profitability in the future" in its S-1 filing with the SEC. For the future, if the IPO is to be successful (and the company as a whole), Zoosk will need to increase brand awareness via public relations, social media, and advertising. Zoosk must also create an effective system for retaining users and continue to expand its presence on mobile.

For more on this dating service you can read our Zoosk review.

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