Social media applications have remained the world’s favorite at the back of its USPs like ease of use, high adoption rate, and immense popularity.
In fact, it is one of the sectors that has proved itself to be pandemic proof. Especially since social media became the only way for people to have a sense of connectivity and community in their lives in the middle of the lockdown era.
We recently met the founder of a dating social media application who was seeking our assistance in getting funded. The idea which they had was that of a voice-driven social media app where users review the match profiles and then set up the video dates that are restricted to only five minutes. In this period, they get to see if they will even be interested in taking the date ahead.
“Just when we thought the social media application sector had become stagnant, the clients presented a revolutionary new idea. The app made bling dating virtual by giving people the chance to interact face to face – cutting down the many stages it takes to find the vibe match. We were sure that the one of a kind application would get interest hits from a number of investors who knew how compact the dating social media sector had become.” – Ash Narain, Founder, Marquee.
On a global scale, the dating application market is expected to reach $9,202 million by 2025. The dating service sector has been showing immense growth on the front of sales – growth which has been evolving since the past some years.
The market size that the sector is expected to reach can be attributed to an increase in the number of singles and the access to the internet, especially around regions like Europe, Asia Pacific and North America.
A contributory factor to this growth has been the increased use of AI. Several dating apps are using artificial intelligence to make matches, make the platform safe, and ensure that the application is genuine with zero fake profiles.
Now, what we had was a dating based social media application which users would go on to meet someone face to face. An idea that was new to the social media industry. After listening to the idea, we were sure that it would get the much deserved investor attention.
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