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But with hundreds, if not thousands, out there, it's tough to get a critical mass of users. " That's what dating industry veteran Sam Yagan -- he founded Ok Cupid in 2003 -- said is most important. (The site is largely free but users can pay to upgrade their services.) In 2011, But for the aforementioned apps -- along with Coffee Meets Bagel, Hinge, Happn, Tinder and countless others -- profitability is a long ways off.And that's key to attracting investors and eventually turning a profit. Many haven't even introduced a plan to monetize their services.While funding to dating firms was up in 2014, the size of the rounds is actually declining, according to data from Priv Co.
Back then, not everyone acknowledged the benefits of this activity, which was perceived as a rather impersonal way of finding love.
For instance, one in ten Americans have used an online dating site or mobile dating app; 66% of these users have gone on a date with someone they met through a dating site or app, and 23% have met a spouse or long term partner through these sites (1).
It is estimated that the industry is worth more than £2bn globally (2).
The last type of competitor is the traditional matchmaker services like the Date Match Maker that relies on an agency to capture information regarding the applicants and then makes the matches on their own.
Compu Date has segmented their market into two distinct segments. Demographic and assorted details include:20-35 year olds: Recognizing that the two groups are quite distinct, Compu Date will adopt a different strategy for reaching each.
Compu Date has identified two distinct market segments.