Internet Dating Investments

Krafton Acquires Korean Dating App 'Between'

KOREATECHDESK - May 14 - Krafton, the Korean game startup known for its game PUBG (PlayerUnknown's Battlegrounds), is acquiring 'Between,' a Korean dating app from Socar subsidiary mobility startup VCNC. The amount of the acquisition deal has not been disclosed. Krafton, which is about to go public in H2, is expected to increase its valuation by diversifying its business. VCNC's Between division will be integrated into a newly established subsidiary 'Between Us' by Krafton in March by June. Between is a messenger app for couples developed by VCNC CEO Park Jae-wook in 2011. The app, free to download, lets couples chat, plan dates, share their favorite photos & videos, make voice calls, track anniversaries and special dates, etc.

See full article at KoreaTechDesk

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Chinese Online Dating App Soul Seeks to Raise $100M in U.S. IPO

CAIXIN GLOBAL - May 12 - Tencent-backed social media app operator Soulgate is seeking to raise an initial target of $100M in an IPO in the U.S., betting investors will buy into the growth story of its networking features even as it continues to lose money. Soulgate, whose dating and chatting app Soul targets adults under 30, says it would spend the proceeds mainly on developing its AI, big data capability and technology infrastructure, as well as brand marketing and promotional activities to grow its user base. Soul launched in November 2016, matching users to like-minded individuals online via AI after they take a personality test and list their interests. 74% of its average daily active users (DAUs) are under 30. Soulgate is yet to turn a profit with losses expanding last year to 600.9M yuan ($92.1M), from 348.7M yuan in 2019. In the first quarter of this year, the company's net loss ballooned sixfold YOY to 409.6M yuan. However, the company has posted steady revenue growth, recording 498M yuan ($77M) in total revenues last year, up from 70.7M yuan ($12M) in 2019.

by Timmy Shen & Qian Tong
See full article at Caixin Global

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Snack, a 'Tinder Meets TikTok' Dating App, Opens to Gen Z Investors

TECH CRUNCH - May 10 - Snack, a video-first mobile dating app designed with a younger generation in mind, has launched its own Gen Z Syndicate on AngelList, which will allow Gen Z community members, influencers, creators and others to participate in the company's upcoming $2M SAFE, alongside other funds and angel investors. The company in February announced $3.5M in seed funding. Users on Snack post videos to a feed which others then like in order to be matched.

by Sarah Perez
See full article at Tech Crunch

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Dating App Qemistry: Another Cross Between Tinder and TikTok

UKTN - Apr 28 - London-based dating app startup Qemistry has raised a £250K fundraise on Crowdcube. These funds will be utilized for marketing. Qemistry enables users to set a series of video clips on their profile, instead of mere static images. The app already has a wait list of 10K Londoners.

by Shubham Sharma
See full article at UKTN

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British Startup So Syncd Raises €827K

EU-STARTUPS - Apr 27 - So Syncd, a dating app that matches compatible personality types, has raised a seed round of ~€827K to grow its user base in the US. The round is led by Upscalers investment club, with participation from KM Capital, a US VC firm and a number of angel investors. Created by siblings Jessica Alderson and Louella Alderson, So Syncd connects people on a more meaningful level. The app uses Myers-Briggs personality types to match couples. So Syncd now has ~60K users.

by Charlotte Tucker
See full article at EU-Startups

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TrulyMadly Raises $2.1M (₹16 crore) in pre-Series A

THE HINDU BUSINESSLINE - Apr 20 - The app will be deploying the fresh capital to build new product offerings and expanding to new geographies. The round saw participation from Venture Catalysts, 9 Unicorns, early stage investor advisor Jana K Balan, Neil Bahal from Negen Capital, angel investor Ruchi Sihare and existing investors Inflection Point Ventures, The Chennai Angels and AngelList. The platform has ~850K users. The start-up raised ₹8.1 crore ($1.1M) from Inflection Point Ventures, The Chennai Angels and AngelList last year along with some angels and start-up founders.

See full article at The Hindu BusinessLine

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Russmedia Equity Partners Acquires Minority Stake in ICONY

PRESS RELEASE - Apr 13 - Russmedia Equity Partners acquires a minority stake in white label dating company ICONY. Schöne Töchter remains the majority owner. Russmedia Equity Partners' portfolio currently comprises 24 platforms in six EU countries. ICONY, based in Reutlingen (Germany), offers partners the opportunity to operate a dating platform under their own brand and domain.

See full article at Russmedia Equity Partners website

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Chinese Dating App Maker Seeks IPO in US

PITCHBOOK - Mar 17 - Soul, a Chinese dating app provider, is reportedly in talks with bankers about a deal to go public in the US at a valuation of $1B. Soul seeks to raise $200M in its IPO. Soul has previously raised $60M from investors including DST Global, Genesis Capital and 5Y Capital.

See full article at Pitchbook

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Lolly, "TikTok Meets Tinder" Dating App, Raises Seed Funding

GLOBE NEWSWIRE - Mar 15 - Lolly is the brainchild of Babson College senior Marc Baghadjian and NYU graduate, Sacha Schermerhorn. Lolly was born out of their frustration with dating apps. Lolly allows users to showcase their personality through videos and find people based on common interests. Lolly has attracted the attention of John Sculley (former CEO of Apple), Ron Conway's SV Angel, John Pleasants (former President of IAC), Blair Shane (former CMO of Sequoia Capital), Jane Metcalfe (co-founder of WIRED), Scott Eagle (former CMO of E-Harmony), Mitch Lowe (Founding Executive at Netflix), among others. In keeping with its focus on the Gen Z experience, Lolly is also currently working with investor California Crescent Fund, a student-run venture fund located in Southern California, to assist in community building and growth.

See full article at Globe Newswire

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RSVP Acquired by Original Founders

OPW - Mar 12 - Dave Heysen and Daniel Haigh have done a company buyback of RSVP, which is the hallmark dating brand in Australia. Dave and Daniel are the majority shareholders now. The company is no longer owned by Nine (who bought Fairfax). Watch OPW.news for more information and an expanded post next week.

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