And relatively small amounts of funding can't support the hefty marketing budgets needed to acquire more and more users, according to Evans.Hinge, which raised million in December (for a total of million in funding to date) isn't monetizing its platform yet.
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.
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"They met over the summer and they are having really good time they are seeing each other," a source tells PEOPLE. Found @marcuslemonis on @The Profit CNBC I like him & his way of doing business." The couple was then spotted getting cozy at the Apollo in the Hamptons charity event earlier this month.
"The value [dating apps] bring and the connection to the offline world allow for [premium pricing]," he added.
That's according to joint research by Discover and Match Media Group. The results: 58 percent of online daters say a good credit score in a potential partner is more attractive than driving a nice car.