In this article, we will understand in-depth about the Tinder business model that helps you to make your business strategies.
As we know today we can connect with anyone in this world with the help of the internet and new technologies.
We can talk with our friends, relatives, neighbours, teachers, classmates, colleagues with the help of mobile phones and applications.
So, these technologies are used by many people with proper business strategies to make money and provide good services to their customers.
So here, we are going to discuss Tinder that helps it to connect with their interested partner with the help of the application.
Overview Of Tinder
Tinder is a dating mobile app launched in 2012. This app is the fastest growing social media startup of all time. Currently, Tinder has been downloaded by more than 100 million people.
More than 190 countries are using Tinder and it is available in more than 40 languages.
Tinder is owned by InterActiveCorp (IAC) which is also owns more than 150 other brands and products that includes about.com, disctionary.com, Vimeo, Investopedia, CollegeHumor, OkCupid, Meetic, Ask.com, Twoo, PlentyOfFish and many more.
This is a very popular location-based social search mobile application that helps you to match your profile with your interested person and facilitates communication between mutually interested people.
Tinder is the topmost dating app used by the age group of 18 to 64+.
Tinder business model and Tinder revenue model is very interesting and profitable before discussing that let’s know-how does tinder work.
How Does Tinder Application Work?
Tinder Business Model raised popularity among its users not only by free uses under Tinder Basic Model but also under Tinder Plus & Gold Models under a paid membership.
Let’s understand How the Tinder Application works.
Users can create a Tinder profile with the help of mobile number and by connecting or logging in through Facebook ID.
If you log-in with Facebook then profile picture, work status, university, interest and other basics information is imported from your Facebook BOI.
You can create your BOI on Tinder Application. The role of profile In Tinder business model plays a very important role in matching interested people according to location.
As we discussed above, this social local search application suggests different users to a person based on his/her location selected and by their interest.
Swipe, Match and Super like
In Tinder swipe, match and Super like are three major terms. If you are swiping right it means you are liking that person and want to date with his/her.
it’s opposite if you are swiping in left it means you don’t like or dislike the suggested profile and want to continue research for matching your profile.
you liked the suggested person profile and in the same way, that person likes your profile, it means your interest is matched now you can chat with his/her in the personal chatbox.
Super Like was introduced in October 2015 and this feature of Tinder application helps to notify his/her that you are interested in them. This feature is best to get matched with your interested person instantly.
Tinder Business Model
Business Model Of Tinder or Tinder Revenue Model has a unique to make a profit by selling propositions connecting users with their desired interest.
So, let’s understand the Tinder Business Model and How Does Tinder Make Money.
Tinder Plus or Freemium, Tinder Business Model
As we already discussed above Tinder launched its free application in 2012 at that time when smartphone markets were on the boom and they launched this application at the right time.
In 2015, Tinder Business Model Or we can say Tinder Revenue Model changed. They introduced its freemium business model where they started to charge some amount for the features like Unlimited Swipe, Location Change and many more.
These features divided Tinder Business Model in two ways, first money-making Tinder Plush and the second one is Network Making Tinder Basic.
If users have subscribed Tinder Plus then he/she can access some special features like-
- Users can do unlimited swipes
2. find your match at any location
3. User can use super like feature per day
4. If you want to undo the last swipe so Tinder Plus gives you Rewind features.
5. Users will get access to 1 Boost every month.
6. Tinder Plus users can be matched between a plus and basic application user.
If we talk about the cost of Tinder plus then it’s the cost is variable according to the age of the user ex. In the US Tender Plus charges between $10-$19.99.
This is an extension model of Tinder Plus and this is a paid service that provides all the Tinder Plus features as well as new Likes You additional features.
‘Likes You’ feature lets the user see how many people like your profile, it gives you all data who have liked and many more.
You can see the profile of that person without wasting your time in swiping. The cost of Tinder Gold is also varying on ages and location.
Digital marketing is the best way to reach your targeted audience by advertising on the different social media platforms.
Same thing Tinder shows sponsored content on its application and makes revenue. This Tinder revenue model is very interesting and best for making a profit for Tinder.
Tinder runs Sponsored profile or content when a user likes or swipe the profile for matching.
If a user likes that pre-drafted message or if the ads are useful for the user so they can click on the link to know more. Mainly Chatbots used for this purpose.
This is a recent addition to the paid Tinder revenue model. Boost helps to make the user’s profile on the top for 30 minutes.
Boost helps to increase the chances of a match users profile up to 10x more profile views and also it helps to 3x more matches amid boosting.
This feature is also a great source of revenue for Tinder by charging between $1.99 to $3.99 per boost and it is a standalone feature. This feature comes included in plus.
Its subscriber number is increasing year-by-year with around 36% but the percentage of revenue is greater than the percentage of Tinder subscribers.
Yes, Tinder generated 43% more revenue in 2019 as compared to 2018.
As we know Match group is the parent company of Tinder. They have other high profile platforms like Hinge, OkCupid.
Match Group overall revenue of 2019 was $2.1 billion and you will amaze because they got more than half of the revenue from Tinder.
Tinder business model has generated $1.2 billion in 2019 which is 43% greater than revenue generated in 2018.
The overall Tinder revenue model is very profitable and if we talk about Business Model Of Tinder so that is also excellent.
Tinder has raised a total of $50 million in three-round and if we talk about the recent funding raised by Tinder so they raised on 10th October 2017 but the amount is undisclosed.
Some Fact And Figure Of Tinder
Industry Type: Dating, Mobile, Search Engine, Social Media.
Headquarter: West Hollywood, California, United States
Founded: September 2012
Founders Of Tinder: Christopher Gulczynski, Dinesh Moorjani, Jonathan Badeen,
Justin Mateen, Sean Rad
Legal Name: Tinder Inc.
IPO Status: Private
CEO Of Tinder: Elie Seidman
Employee: more than 200
Tinder has downloaded more than 340 million times till now.
It is available in 190 countries.
Tinder is available in more than 40 languages.
Recently, Tinder named as Fast Company’s annual list of the world’s most innovative companies in the year 2020.
Till date Tinder has done 3 acquisitions that help to better the Tinder Business Model. Tinder acquired Wheel, Human and TAPPY.
Conclusion: Tinder business model is very profitable as compared to other dating apps. Data showed that more than 12% of users on Tinder already are in a relationship with others so most of the people do misuse this dating application.
The google play’s rating of a Tinder app is not very good, it’s 3.7 out of 5 so according to me, Tinder should focus on their rating.
Free to ask any queries related to Tinder Business Model or Tinder Revenue Model on comment box and read our other business model like the business model of Udaan, and many more.