Category: Reporters – Steve O’Hear
How The M14 Industries Dragons’ Den Deal Collapsed
TECH CRUNCH – Mar 7 – M14 Industries was pitching its dating and social app-building platform for an investment of £80k for 15% equity. The M14 founder chose to accept a combined offer from Jenkins and Jones of £80k for 20% equity, giving the young startup a £400k pre-money valuation. Later, M14 was approached by one of its larger clients who had learned that the startup was preparing to take more investment and asked if they could be part of the deal. The unnamed client was willing to invest at a £1.5M pre-valuation, up significantly from the Dragons' Den £400k valuation. But agreeing to 20% in the Den, then closing at 6% a few months later, would cause trouble down the line for the show, and possibly lead to people not taking future deals in the Den seriously. So the deal collapsed. In a final, and perhaps, ironic twist of fate, the unnamed investor would also go on to pull out of the deal in favour of simply remaining a customer. However, M14 Industries closed ∼ £100k with other investors, at a far better valuation, the fonders say.
by Steve O'Hear
See full article at Tech Crunch
This post also appears on InternetDatingInvestments.
Dating App Boompi Lets Women Invite Friends To Comment On Private Messages
TECH CRUNCH – Mar 30 – Boompi is a new dating app that works like Tinder but women on the app can invite friends to eavesdrop and secretly comment on their private conversations with prospective dates. If that feels like privacy violation as a feature, that's because it is. "Women are more inclined to go on a date if they have the approval of friends," says the app's male founder Alejandro Ponce. "Also, if men know their messages may be read by other people, they might be less likely to act like jerks," he argues.
79% Of Bumble Is Owned By Badoo
by Steve O'Hear
See full article at Tech Crunch
Ask.fm Founders Back Dating App Mint
TECH CRUNCH – Mar 17 – The founders of Ask.fm, the social Q&A app that became embroiled in a cyberbullying media storm before being acquired by IAC, have backed new dating app Mint. Through their startup builder Balaclava Lab, Ilja Terebin, Mark Terebin and Oskar Liepins have invested $1M in the young company. Launched in December, Mint is pitched as a location-based mobile dating app that helps users meet with people nearby.
by Steve O'Hear
See full article at Tech Crunch
This post also appears on InternetDatingInvestments.
Lulu Acquired By Badoo
TECH CRUNCH – Feb 9 – Lulu, the once controversial mobile app that let women anonymously review and rate men, has been acquired by Badoo. Lulu founder and CEO Alexandra Chong will move back to London from New York to join Badoo as President, where she'll be focusing on international expansion. Terms of the deal remain undisclosed. Lulu had raised $15M. The new Lulu will be powered by Badoo.
by Steve O'Hear
See full article at Tech Crunch
See all posts on Lulu
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This post also appears on InternetDatingInvestments.
Venntro Media Will Take 40% Stake In Startups They Invest In
TECH CRUNCH – Nov 12 – The newly-launched Venntro Ventures incubator plans to invest in and incubate tech startups in both the U.K. and U.S. who operate in the online dating and lifestyle spaces. Venntro will provide startups who are accepted onto the programme with expertise and advice, office space, capital and, most strategically, access to its member portfolio. In return, Venntro will take a stake of ~40% in the startups it invests in.
Loveflutter Hopes ‘Promoted Places’ Will Keep The Dating App Free
TECH CRUNCH – Apr 7 – Last week Tinder began experimenting with ads, by tentatively wedging a video ad for Budweiser into the core swipe left, swipe right UI. Alternatively, if users want to go 'ad-free' they can purchase Tinder Plus. Rival app Loveflutter, thinks it's come up with an alternative monetisation strategy. Tying into the app's existing 'Date Ideas' and 'Suggest-a-Date' features, Loveflutter's new 'Promoted Places' ad unit lets advertisers pay to have their listing appear when prospective daters are matched and want to find a place to actually meet offline.
Loveflutter Relaunches As A Quirky Tinder
TECH CRUNCH – May 19 – Loveflutter soft-launched in New York and the UK last year as an app that matched users based on shared interests using Google-owned Freebase. The app is rebooting with a mobile-first approach, which asks users to provide a quirky fact about themselves to provide the extra human factor beyond photos. The app also provides suggestions on places to meet. Early Twitter investor Jeff Pulver as an adviser.
Loveflutter Is A Google Freebase-Powered Dating Site
TECH CRUNCH – Apr 23 – Loveflutter is a new dating site powered by Freebase, the 37-million strong open database of people, places and things acquired by Google in 2010 and now part of the search giant's Knowledge Graph. The site connects people based on shared interests. Loveflutter shows you matches who like the same kinds of music, books, movies, TV shows, and sports. Loveflutter can suggest places to go on a date, based on local venues it pulls in from Foursquare. Other features include "Verified Profiles".