PR NEWSWIRE – Nov 20 – Q3 net revenue was $26.3M, up 25.5% YOY. Net income was $473K, compared to $2.9M in Q3 2012. Average monthly active user accounts reached a record high 6.2M, a 13.6% increase YOY. Average monthly paying user accounts were 1.5M, an 11.3% increase YOY. Jiayuan is increasingly shifting towards mobile with mobile log-ins accounting for 70% of all log-ins during Q3.
See full article at Marketwatch
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FORBES – Nov 20 – Alexandra Chong is the Founder & CEO of Lulu, the provocative female app that allows users to rate men.
Q: What inspired you?
A: I graduated with a law degree from LSE, and I went to work in the legal department of a music licensing start-up. I quickly realized I wanted to start my own business. I went to a brunch with a group of girls after Valentine’s Day. It was a table of just women sharing stories about guys. I concluded that women needed their own network for sharing with other women.
Q: What were some of the tactics you used to get Lulu off the ground fast?
A: We went directly to our customers. College sororities and fraternities seemed like a great fit, so we ran a beta at two colleges in Fl. Within just a few weeks, we had 40% of girls and 60% guys on a campus on Lulu!
Q: What were some of the challenges you faced?
A: I don’t have a technical background, so I needed a very strong technical lead. Our CTO, Hassan Chahrour, was one of my first hires.
Q: What do you see as the future of dating and the emergence of accompanying tools, in particular?
A: Online dating is now the norm. We hear from users that dating without a reference is a scary thing. Lulu provides a critical information layer for the dating industry.
Q: What successes have you achieved so far at Lulu?
A: We’ve reached millions of girls in the US, including one in four US college girls. We hit #1 in the App Store in Brazil just one week after launch.
Q: Do you have any advice for other professionals aspiring to start their own business?
A: It all starts with the team. Find people that are smarter than you who you believe in and want to work with.
by Tiffany Pham
See full article at Forbes
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BUSINESS INSIDER – Nov 20 – Cuddlr app has been questioned a lot since it launched worldwide in Sep. Some criticise it for being male-dominated, while others have complained of meeting up for a cuddle, only to be stood up. According to Cuddlr’s co-founder, Charlie Williams, the app has been downloaded 214K times and saw ~9K „cuddles“ in the first week of launch. Cuddlr works like Tinder. People connect the app to their Facebook profile, and the app shares the first name and pictures of cuddle candidates within walking distance. Users tap the picture to request a cuddle.
by Joshua Barrie
See full article at Business Insider
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THE STREET – Nov 18 – Tinder success is fueling speculation that IAC will spin-off Match Group. Match Group may be worth as much as $5.3B. A spin-off would unlock a much higher valuation for IAC’s dating websites and apps than the rest of IAC. Tinder alone could be worth $1.1B by the end of 2015.
by Antonia Massa
See full article at The Street
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LATIN POST – Nov 18 – 11 social networking and dating apps, including Grindr, Scruff, Jack’d, Hornet and Manhunt, have joined forces to decrease „violent attacks“ on LGBT people who meet via social media interaction. They are providing discounts on the ads of Anti-Violence Project (AVP). AVP has created a platform that offers counseling to men and women about how to prevent hazardous situations and how they can report assaults.
by Marcus Scott
See full article at Latin Post