BUSINESS INSIDER - Oct 22 - Like Tinder, Hinge lets users see profiles of single people nearby. They can like or nix a profile. Unlike Tinder, Hinge only connects friends of friends. At the end of 2012, Hinge only had $32K left in the bank. Justin McLeod's, Hinge's founder and CEO, raised $100K a few months prior, but only a few thousand people were using it. $25,000 went to a hail-mary pass: a massive 2K-person launch party in Washington. Two weeks before the party, Apple rejected Hinge's app. The morning of the party, Apple finally approved the app. Hinge is now one of New York's hottest startups. In July Hinge raised $4.5M, bringing its total funding to $8.6M. The app makes ~8M matches a month. (Tinder, by comparison, makes 15M matches per day).
by Alyson Shontell
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