Startup Sunday Season 1 Episode 15 (Tinder)

tinder_logoMaslow identified love as a social need. In today’s online world why should love stay behind. Technology, connectivity and innovative applications have made connecting with and meeting new people very easy. Today, we love to throw caution to the wind and engage in lucid conversations with strangers. Online dating has become as easy as hitting the ‘Like’ button on a photograph of someone you like, or swiping right on a dating app which will help you find the perfect match.

The app is simple, easy on the eye and feels like a game. But it would be a mistake to dismiss this app as just another hook up app would be a mistake, and there are 50 million reasons in 196 countries worldwide to prove that. Tinder is popular and widespread and is available in 30 languages with 73% of college students ranking Tinder as their favorite dating app.

Tinder won TechCrunch’s Crunchie Award for “Best New Startup of 2013”. Based on number of users and frequency of use Tinder became one of the top 25 social networking apps by May 2013. As of October 2014, the app was processing over one billion swipes per day, producing about twelve million matches per day. The average user would generally spend about an hour and a half on the app each day. Tinder was the first “swipe app” that used swiping left or right to control what content the user sees in a browsing fashion. In March 2015, Tinder announced the public release of its paid service, Tinder Plus, a feature allowing unlimited matches, whereas the free Tinder app limits the number of right swipes in a 12 hour period. The price of a Tinder Plus subscription was announced to be £14.99/$19.99 USD per month for users over 28, while the same service for a user 28 and under will be £3.99/$9.99 USD per month. As of April 2015, Tinder enjoyed a user base of 1.6 billion making more than 26 million matches per day. Till date more Tinder is a free, location-based mobile dating app which simply requires you to download the app, link it to your Facebook account, choose a maximum of six your photographs, write a brief introduction about yourself and then the app shows you photos of singles based on your preferences. If someone you liked also liked you back, the app immediately informs you, “It’s a Match!” and urges you to begin chatting.

Tinder was founded by Sean Rad, Jonathan Badeen, Justin Mateen, Joe Munoz, Dinesh Moorjani, Chris Gylczynski, and Whitney Wolfe. According to Rad, the impetus for the app was his observation that “no matter who you are, you feel more comfortable approaching somebody if you know they want you to approach them.” He wanted to create a “double opt-in” system to potentially alleviate that stress. Rad feels that Tinder fulfills the need for social sites to meet strangers, rather than connecting with those you already know.

than 9 billion matches have been made since its launch. Research shows that Tinder has 50 million active users who check their accounts 11 times per day and spend an average of 90 minutes per day on the app. As of July 2016, Tinder has 25 million registered users and 1 million paid subscribers. On average a tinder user spend 35 minutes a day on the app and swipe (left or right) 140 times. In March 2014, Media & Internet conglomerate IAC increased its majority stake in Tinder. In July 2015, Bank of America Merrill Lynch valued Tinder at $1.35 billion, based upon an estimate of $27 per user on an estimated user base of 50 million. According to Deutsche Bank, Tinder is valued at $1.2 billion today.

Tinder is the recipient of the 2015 Dating Sites Reviews Editor’s Top Pick Dating App Award and also the winner of the 2014 Editor’s Choice Top Pick – Innovative Award. Celebrities like Hilary Duff have confirmed that she has a profile on Tinder and has been out on one date with another member.

Tinder is simple, quick, fun and free and very popular. So, if you are single and looking, keep an open mind and check it out and you might be pleasantly surprised.

“Don’t limit your challenges. Challenge your limits.”

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