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As a quick aside, there’s a controversial history between Whitney Wolfe, founder of Bumble, and Justin Mateen, co-founder of Tinder—making the Match Group’s attempted 0 million acquisition of Bumble that much more contentious.Overall, it’s a difficult market to break into because of the nature of the product.Others, however, predict that revenue is expected to grow 25% by 2020. According to the Pew Research Center, between 20, online dating usage has tripled among those between the ages of 18 and 24.Beyond its existing users, dating services benefit from tailwinds such as an untapped market, increasing millennial spending power, young people delaying life milestones such as marriage and home purchasing, as well as working longer hours.

With so many dating sites, it can encourage customers to try out its other sites as well.Around 15% of US adults, or around 50 million Americans, say that they have or continue to use websites or mobile dating apps in their pursuit of romance.While these numbers are promising, it’s interesting to note that some sources indicate that revenue growth for the industry is projected to slow through 2022.Dating apps are essentially another form of social media, where a product’s value often hinges on how many people are on it and using it.New sites may have difficulty garnering more users, and, according to Ok Cupid’s chief product officer Jimena Almendares, “If you visit a product and there aren’t that many people to see, the likelihood of you coming back is going to decrease rapidly.It might be hard to imagine or remember, but there was once a time when going on a date with a stranger you met online was a strange concept—frowned upon, even.Today, however, millennials have led the charge on transforming the dating industry and making online dating universally accepted.The second largest competitor is e Harmony, with just under 12%.Users might not realize that Match Group actually comprises 45 brands, including big names such as Match.com, Ok Cupid, and Tinder, and it IPOed in 2015.Some might even say that they “work to provide a stream of warm bodies as fast as possible.” Each app has its own competitive advantage or spin on the dating game: With its monthly subscription fee, attracts people willing to put their money where their mouth is.On the opposite end of the “casual to serious” dating spectrum, Tinder pairs potential hookups based on a mere glance and swipe of a photograph, is easy to use, and is user-friendly, generating 1.2 billion profile views and 15 million matches a day.

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