Inbuilt gifting facilities can also turn out to be a feasible revenue model. Gifts like flowers, chocolates and greeting cards can be provided for a minimum fee.
Advertising can be a risk for dating apps, given the competition. Users tend to be averse to repeated ads showing up and intent to uninstall. However, short and rather subtle ads that do not interrupt much are used. Ads are probably the most plausible answer to the question of ‘How does Dating apps make money?’
Third Party Services:
Dating apps can involve services that allow booking taxis or booking a table with special offers and even movie date facilitators.
Tinder – The pioneer of dating apps as it is referred to, was founded in the year 2012. Tinder was one of the first dating apps that changed the online dating scenario completely and continues to rule the market till today. Being the stalwart that it is, Tinder has evolved into an efficient ‘dating app guide’ for the budding ones.
Tinder is a location-based dating app that finds you members of the opposite sex in your area and lets you swipe left or right based on your liking. You swipe right when you like someone and left if you do not. That is how the app works. It enables you to link your account to your Instagram which in turn gets quite helpful for a person trying to get to know the one he or she has liked.
Tinder was reported having more than 3.7 million subscribers on Agust 6, 2018 by the Match Group. It has also made its way among the highest revenue earning dating apps of its time.
Bumble – Bumble was founded after Whitney Wolfe Herd, a co-founder of Tinder resigned from the company and decided to develop her own app. Bumble is a tad different from other dating apps in a way that it enables female users to make contact with matched make users in case of heterosexual matches.
Bumble works similarly to Tinder swiping defining one’s likes and dislikes briefly but it stands out in giving women the priority to make the first approach. For this particular factor, Bumble has been publicly hailed as a ‘Feminist Tinder’. It could act as a dating app guide to many other aspiring entrepreneurs looking to venture into the industry with a certain nose for giving women the upper hand.
According to the New York Times, as of , Bumble had more than 800 million matches and 10 billion swipes per month and is the second most popular Lifestyle app in the iOS App Store. You can create a dating app like Bumble with your own unique features. Think about it!
Badoo – Badoo is one of the earliest dating apps launched way back in the year 2006 by Russian entrepreneur Andre Andreev in Moscow. Presently operating in 190 countries around the world, in 47 different languages, Badoo can be deemed as the most widely used dating network in the world. It operates on a freemium model, whereby the core services can be used without payment.
Badoo functions on swipes based on your momentary likings and also helps you text the person you’ve liked. You can also video chat with the person you’ve matched with on mutual agreement. Badoo is reported to have a $200 million turnover annually.
Zoosk – Zoosk was founded in 2007 by Iranian immigrants Shayan Zadeh and Alex Mehr. But after financial struggles in the year 2014, Kelly Stuckelberg took over as the new CEO of the company. Presently, Zoosk is available in 25 languages and is spread across 25 different countries.