STRATEGY EYE - Aug 19 - Badoo describes itself as a ‘meeting network’, enabling users to find, chat and flirt with each other online. Here, COO Bart Swanson talks competition in the social networking space.
Q: How do you stand out from other social networking sites?
A: We don’t believe there’s a social network out there that’s in the meeting network space. Dating sites are after people who are looking for serious relationships; Facebook is the place where you go to meet with your existing friends.
Q: What platforms are you available on?
A: We have our own platform. We have an app on Facebook. We’re also on mobile. iPhone, Android and a WAP site. iPhone is the biggest and we see 2M downloads.
Q: What is your business model?
A: Badoo is first and foremost a free service. We have two ways in which we monetize. By customers who pay for subscriptions, getting various added services such as advanced search. The other part is premium one-offs. For example, you can promote yourself. We have been profitable for the last 24 months.
Q: You’ve raised $30M in VC funding. Are you looking to raise more cash?
A: We’re trying to figure it out right now. The company does not need any cash for expansion.
Q: What do you think is the hottest trend in digital media right now?
A: Location-based services on mobile
by Sarah Vizard
The full article was originally published at Strategy Eye, but is no longer available.