Booming Chinese market, new investments, and LinkedIn as a dating site?
This is our weekly column of online dating industry news, which is an easy way to keep tabs on the market. This week’s highlights are here:
– China’s social credit system (article at BBC.com): Global, state-supported system is probably what it takes for verification to take permanent territory on dating sites.We can argue about the concept itself all day long, but it will probably become reality in the next decade or so. Until then, various small background check initiatives are not going to offer meaningful help to online daters.
– Chinese dating market is booming (article at BeijingToday): Online dating in China will generate ~10B yuan ($1.6B) in revenue by 2016, up 17% from 2014, according to iResearch. Dating sites make money from ads and membership fees, and also from offline events and matchmaking services. Educational background, salary, and home ownership often weigh the most in selecting a partner. Men are generally expected to have a house, a car and a satisfying salary. 68% of women in developed cities said they would not marry a man until he owns a house.
– Kickoff raises $1.6M (article at PE Hub): Another week, another investment! Latin America’s leading dating app, which connects friends of friends, has received an investment from Monashees Capital (Brazil’s leading VC fund) and angel investors.
– BeLinked makes a dating site out of LinkedIn (article at The News&Observer): If marriage of convenience is your thing, look no further, there’s an app for that. Yes, people will freak out but has it ever stopped anyone? On a more serious note, dating and romance always happens wherever a sufficient pool of people emerges, no matter the environment. It also helps (?) that LinkedIn has more details on users than Facebook.
Thanks for taking the time, and don’t forget that we offer consulting for dating sites. See you next week!