NY TIMES - Apr 22 - In 2013, Lauren Kay and Emma Tessler started Dating Ring, a group dating service. They were charging $20 per person per date. But soon, sales had started to flatten, and scheduling dates was a nightmare. They decided to switch to a one-on-one dating model. "We had $7K in sales within 24 hours," Ms. Kay said. Dating Ring uses an algorithm to generate matches and then a matchmaker combs through those to hand-select dates. Mark Brooks, an Internet dating analyst and consultant, said although there is still plenty of interest in online dating, people also want relationships that begin based on more than your gut reaction to a photo. "This model of merging of Internet and matchmakers is very new," he said. Life Change Holdings manages local matchmaking businesses that use a website, like OhioSingles.com or CharlotteMatchmakers.com, for leads. The services cost $3,5 - $10K and Life Change Holdings revenue has grown from $2.5M in 2012 to $14.5M in 2014, said Bill Broadbent, the company’s founder and CEO. He projects ~$20M in 2015. Dating Ring now charges $240/3 month that brings in revenue of $35K/month.
by Eilene Zimmerman
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