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Loyal repeat customers who become locked in by a high cost of switching are the dream of every investor and smart business.Dating services lose customers quickly when they find a match -- or when they don’t find a match.What moves will Tinder make to enter this growing market, and can the app make money as fast as it makes matches? The dating app, which pairs potential hook-ups based on a mere glance and swipe of a user’s photograph, is easy to navigate and eliminates the standard, time-consuming features of traditional dating sites that can be overwhelming for users.This user-friendly approach produces 1.2 billion profile views a day and creates 15 million matches.
A recent investment in the app by California-based Benchmark – led by Matt Cohler, Tinder board member and former executive at Facebook (FB) and Linked In (LNKD) – suggests Tinder is already thinking about this next move.
Tinder Plus will also roll out Undo, a feature that will allow users to recall a profile lost by swiping to the left, a hasty gesture that permanently eliminates potential matches.
Tinder co-founder Sean Rad is confident the new services will begin bringing in cash as he insists users are both asking and willing to pay for the added features.
Yet almost no one in this business makes any money, since it comes with a larger list of challenges than most other opportunities I see.
Related: This Dating App Lets Your Actual Heart Choose Your Matches Thus, I encourage you to consider these challenges as reality checks for your own business idea -- dating or otherwise -- before spending all your time and someone else’s money in vain.