The article also discusses the shift in dating apps towards making the experience more fun and engaging, with AI playing a significant role. Startups like Smitten, Datefit, and Blush have raised significant funds for their innovative approaches. However, not all apps succeed, as demonstrated by the failure of Toronto-based Clover. Despite this, there are success stories like Grindr and Match Group. The article concludes by suggesting that while the focus is still on helping people find love and companionship, the trend towards AI could see chatbot-oriented apps gaining more investor interest.
Key takeaways:
- Investing in dating startups is similar to dating itself, with most not going anywhere but the potential for a transformative outcome keeps investors interested.
- Recent funding rounds for dating startups emphasize starting small, with rounds commonly a few hundred thousand to a few million and anything above $10 million being a rarity.
- Large funding rounds have gone to companies aiming to make the dating experience more fun and engaging, such as Smitten, Datefit, and Blush.
- Some dating startups are incorporating artificial intelligence into their platforms, such as Couple with its AI matching and Digi with its AI romantic partners.