Six friends revolutionized the online dating industry by combing technology with a simple user interface and geo tagging ability, thereby, making Tinder the world leader in the mobile dating space.
Launched in September 2012 by Sean Rad, Justin Mateen, Jonathan Badeen, Joe Munoz, Whitney Wolfe and Chris Gylczynski, Tinder currently has over 50 million monthly active users. With 10 million daily active users and over 100 million downloads, Tinder is also available in over 196 countries, in 30 languages. What started off as an easy means for students in colleges to meet new people, is now worth more than $3 billion.
Let’s take a look at some of the unknown facts about the world’s biggest dating app, Tinder.
1. Two years after its launch, Tinder hit one million matches. However, by 2015, the company claimed to have close to 15 million matches in a day.
2. According to stats, women on an average spend 8.5 minutes on the app while men spend only 7.2 minutes. However, the number of men on the app far outnumbers the women, 60:40
3. Hollywood celebrities such as Ed Sheeran, Lindsay Lohan, Lily Allen, Katy Perry also use Tinder.
4. The app is used for 35 minutes on an average per day, per user.
5. Tinder, a way to connect with new and interesting people around you, witnesses close to 1.6 billion swipes per day and boasts a total of more than 20 billion matches to date. It roughly translates to 26 million matches made per day.
6. Despite being a startup company, Tinder never raised any institutional money apart from its majority investor InterActive Group.
7. Per week, almost 1.5 million dates are set up on Tinder.
8. During the Winter Olympics, the app saw a 1,850% increase in members using the latest feature Tinder Passport along with a 348% increase in overall Tinder usage, 565% increase in the number of right swipes and a 644% increase in matches.
9. Tinder has an in house sociologist to help point users in the right direction for making connections.
10. Tinder pays $100 k towards the cost of an LGBTQ wedding for any couple who met through the dating app.
Watch the motivational story behind the launch of the online dating app that is used in many corners of the world today here!
Subscribe to our YouTube Channel for more motivational videos on startups from around the world and inspirational speeches from renowned entrepreneurs!
Major Startup Acquisitions In 2018
While the last year saw a host of interesting acquisitions in the startup world and the tech world, this year saw some major players in the industry taking over startups to help boost their positions in the world. From Amazon acquiring Tapzo to the much talked about Walmart and Flipkart deal, here are all the major acquisitions which took place in the tech world in the last year.
1. Walmart and Flipkart deal
Touted as one of the largest tech acquisitions in India in recent times, the Flipkart take over by Walmart was done with a lot of public speculations and comments! Big in terms of size and investment, Walmart acquired 77 % stake in Flipkart with a whopping investment of $ 16 billion! While the initial reaction to the deal was one of elation and excitement, the consequent exit of Flipkart’s initial founders (Binny Bansal and Sachin Bansal,) came as a tale of caution for future startups looking at foreign investment! Despite all the negativity surrounding this takeover, this acquisition remains one of the biggest ones of the year.
2. IBM acquires Red Hat
IBM’s acquisition of Red Hat with an investment to the tune of approximately $ 34 billion is marked as one of the largest acquisitions of an open source company. Touted to be a game changer in this field, IBM acquired Red Hat by paying a premium of 63 %. Through this deal, Red Hat is being positioned as the first company to hit and break the billion dollar per quarter ceiling, making this take over an extremely lucrative one for the North Carolina based software providing companies.
3. Zomato takes in TongueStun
While the year 2017 saw Zomato being sidelined by Swiggy, this last year saw Zomato grow by leaps and bounds. Post securing investments to the tune of $ 410 million in two rounds, the food based app expanded its services by acquiring TongueStun. One of the primary reasons for Zomato to do this was to help users order food from cafeterias via the app. Furthermore, in an attempt to squash its constantly growing competition in the form of Swiggy, Zomato also acquired TechEagle, a service which drastically increased its delivery options!
4. Amazon buys Tapzo
Another company which is positioning itself for a productive 2019, Amazon acquired Tapzo in an attempt to improve its overall performance. This acquisition reportedly saved Amazon at least two years of time to build the kind of user base and services currently offered by Tapzo. Post this takeover, Amazon is going to integrate Tapzo into Amazon Pay, which will help in improving Amazon’s existing payment strategies.
5. Mettl gets bought over by Mercer
The acquisition of Mettl (an online HR automation service) by Mercer was important for not one, but two reasons. Firstly, it was the first takeover of this kind happening in this area and secondly, this acquisition saw an increase in the investment by 7 times of that which Mettl initially secured in the first round.
Looking at this last year, these acquisitions were quite extraordinary to say the least. If you think we missed out on any others which need to be mentioned on this list, comment and let us know!
Why Good Customer Service Is Important To Your Brand
In today’s competitive world, entrepreneurs, new businesses and even seasoned companies face a serious problem: that of the constantly changing world of expectations. Those who know how to adapt, survive the dark times and those who don’t, end up failing in their walk toward a brighter tomorrow. One of the key ways to avoid failing is by providing great customer service to your clients. However, if you are still not convinced why your company needs good customer service, then these tips could help!
1. Customer service improves customer satisfaction
On an average, it costs almost five times the average amount to attract new customers. However, when you have a great customer service in place, your team will make sure new customers come to you without all the extra investments. Further, a seasoned customer service team helps in reducing the costs that come with selling to a new customer as well!
2. You are remembered through the service you provide
While all your customers may not be with you on a long term basis and only stay with you for a particular time period, they will remember you for the service you provide. It is easy for people to remember the bad service and when good things come, they aren’t hard to forget either. A bad image takes a long time to fix and a good image takes a long time to build. This is where good customer service can be used!
3. Customer service provides value
A great customer service helps in getting all your questions answered and in ensuring all the expectations are met to perfection. Furthermore, an added advantage of this is, your customer service team can also help in building and maintaining relationships with your clients!
4. Customer service helps in ensuring differentiation
Satisfaction is a rare commodity in the business world. When two companies provide the same service, there are a few things which can differentiate one service from the other. Your customer service team helps in ensuring this differentiation is maintained.
5. Increases the customer lifetime value
According to a recent study conducted by a business service company called InfoQuest, it was proved, a happy customer increases the revenue earned by the company by 2.6 times! When you have a team which knows how to maintain satisfaction levels of your customers, your revenue automatically increases by leaps and bounds!
6. Good customer service helps in solving problems
More often than not, when you are busy running your company, you forget to take into stock all the different problems your clients are facing. A good customer service team helps in avoiding and solving exactly these problems. If your customers know they can reach out to your customer service team with their problems and questions, the situation is likely to be solved quicker than earlier!
When it comes to your business,it is extremely important to have your customer service in order. If you think we missed out on mentioning any other ways in which good customer service is essential to a brand, comment and let us know!
How To Market A Small Business
Marketing is expensive and if you are a small business just entering the ring, there is no denying that basic fact. While you may have a marketing plan in place, the costs might just turn out to be too great to handle. Here are some great ways you can push yourself and still make a mark, no matter how strapped for cash you are.
At a time when people rely on what the world is saying, networking is a really good tactic you can use to build the presence of your brand. While your network may trust the person you are, they may not trust your business in the initial stages. Let them know you are open and reach out to the large circle around you. Afterall, everyone always needs someone who can get things done and instead of them going to a random person, why not let them know you are available?
2. Create a space for yourself in the industry
More often than not, people forget to realise the importance of trust. As a new company, this factor is all the more important as it will help in propelling you to the front. Find the opportunities where your business can be of use and leverage the trust people have in you to build your company’s worth. Use your content to your advantage and make the most of your network to cement your place in the industry.
3. Work with other businesses
With digitization being what it is today, most of the ideas are no longer original. To avoid being pigeonholed into a certain corner, start collaborating with other businesses working with the same idea. Put together a group of non competitive, like minded people and make the most of these relationships with redirection and cross promotions. A major advantage of collaborating with people is, it helps in increasing your network and in letting people know you are a new force in the field!
4. Let your content talk about your business
With the world moving the social way, it is important to use the right words to make the right impact. When introducing your business to the world, using social media to the most is one of the best ways to achieve success. Through the use of catchy taglines and hard hitting messages, you can say a lot about your brand. Your content can reach a large audience and when you use the right words in the right way, your brand can be easily discovered.
5. Let the presence of your business be felt
Your business can’t reach people unless you start talking. Hold events, meetings, sessions and invite potentially interested people to learn more about who you are and what you are doing. Every business needs an audience and when you start spreading the word about yours, that is when the world will get ready to sit up and listen!
Establishing your business may be a dream come true. However, marketing the business may be harder than you think. If you feel there are other ways you can market your business, comment and let us know!
- Major Startup Acquisitions In 2018
- Why Good Customer Service Is Important To Your Brand
- How To Market A Small Business
- How To Build Trust With Clients
- Technological Trends To Look Out For In 2019
- Signs Which Show You Are Meant To Be An Entrepreneur
- HR Tools To Automate Procedures
- Apps Which Make Your Life Easier
- Travis Kalanick Life Lessons!
- Uber: Unknown Facts About The Ride Sharing App
- Creative Blocks And How To Get Over Them
- How To Launch A Successful PR Campaign For Your New Business
- Best Digital Marketing Advertising Platforms
- How To Market Your Business Offline
- Things you need to start a business that are not money related
- Entrepreneurs Who Prove Age Is Just A Number
- Wild Startup Ideas Which Are Now Successes
- Influencer Marketing And Its Relevance In Today’s Marketing World
- Apps That Are Making An Impact On The World
- Copyright Law And Digital Media