PR NEWSWIRE - Dating.com, part of Social Discovery Group, is introducing a new VR feature. With this launch, users can now engage in 360° VR video chats with other members, promising a more lifelike communication experience. To access the tool, users are required to have a compatible VR headset. Prior to this feature update, singles were given the option to use video chats within apps. Last year, 3,222,993 video dates were facilitated for users across platforms, which is 1.3M more than in 2022.
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Dating.com Unveils Virtual Reality Feature
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The Next Phase of Human Evolution - Digital Avatars
SOCIAL DISCOVERY GROUP - Digital avatars are rapidly growing, projected to increase from $19.7B in 2023 to $533.8B by 2032. These virtual personas are becoming essential across various sectors like online dating, gaming, education, and marketing, driven by advancements in AI and graphics. In the online dating sector, SDG Investments' product, Magnet, uses customizable avatars to enable connections based on personality, reducing visual bias and enhancing dating experiences. Key technologies like Apple's Vision Pro and the Second Life Metaverse are further enhancing user interaction with digital content, transforming how we engage online.
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Social Discovery Group Launches Dating App Kiseki in Japan
PRESS RELEASE - Social Discovery Group has expanded into the Japanese market with the launch of Kiseki, a platform for singles seeking international connections. This move is part of the company's global growth strategy. Kiseki offers features like real-time translation to facilitate cross-border communication. Social Discovery Group, with a portfolio of 70 brands including Dating.com, DateMyAge, and Dil Mil, reported $400M in revenue and significant growth in user engagement in the past year.
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Bill Alena Appointed as Chief Revenue Officer at Spark Networks
OPW - Bill Alena has joined Spark Networks as the new Chief Revenue Officer (CRO), bringing with him a rich background of over twenty-five years in the Dating and Social Discovery sector. Prior to this role, he served as the Chief Investment Officer at Social Discovery Group, where he was a specialist in Dating and Social Discovery, leading corporate development, investor relations, and the corporate venture capital fund.
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Dmitry Volkov - Interview With Mark Brooks
LTR - Dmitry, a seasoned serial entrepreneur and investor in 22 venture funds, including Khosla Ventures and 500 Startups, offered valuable insights during the interview. Remarkably, he embarked on his entrepreneurial journey at the age of 14, establishing his first software company at 21, which impressively grew to encompass 500 employees. He shares how the company focuses on social discovery, connecting people from all over the world, and the unique aspects of their approach. Dmitry also mentions their interest in AI-based social apps and their willingness to invest in companies that align with their values and goals.
Dmitry's entrepreneurial acumen extends to founding one of the world's largest social discovery group of companies, dedicated to addressing issues of loneliness, isolation, and disconnection through the utilization of digital reality. This Social Discovery Group, encompassing ~40 brands, specializes in dating and innovative social and entertainment apps with a focus on AI, video streaming, and game mechanics. Together, these brands boast ~250M registered users worldwide, facilitating ~75M daily messages.
The September LTR was kindly sponsored by ParshipMeet Group, RealMe, along with Courtland Brooks and Matchmaker.com
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Bill Alena: Five Tips for a Convincing Dating App Pitch to VCs
FORBES - To make your dating app pitch more convincing to VCs, follow these tips:
1. Understand the VC: Research and tailor your pitch to match the VC's preferences and focus areas.
2. Showcase Growth Potential: Emphasize how your app can achieve sustainable and scalable growth.
3. Highlight Value Proposition: Explain your app's unique value and revenue model.
4. Present Realistic TAM: Provide a realistic target audience size, avoiding inflated market figures.
5. Avoid Niche Overload: Find a balance between catering to a niche audience and appealing to a broader market.
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Dating.com Introduces a New Era of Virtual Dating in the Metaverse
PR NEWSWIRE - Dating.com, part of Social Discovery Group, has launched a series of virtual events in the metaverse. Users can create avatars, interact with others in immersive environments, and participate in innovative parties, events, meetups, and personalized dates. The platform aims to bring dating to another dimension and offer a new level of intimacy and connection. Virtual dating in the metaverse overcomes geographical barriers, allowing users to make global connections. The Social Discovery Group comprises over 40 brands, serving 250+M users across 100 countries.
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Dating Maestro Plays in Dubai
OPW - A one-off concert by Dmitry Volkov and friends happened last night in Dubai at the Theater Of Digital Art. It was a multi-sensory masterpiece by the CEO/Founder of Social Discovery Group.
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A VC's Perspective on Investing in Social Discovery Startups
FORBES - Bill Alena, from Social Discovery Group, is a revenue operations and corporate venture capital (CVC) executive with more than 20 years of experience in digital media and online dating. The dating component of the social discovery market alone is estimated to reach $10B by 2028. And with such potential for growth, venture capitalists continue to take an interest in social discovery platforms. But what do VCs look for when considering social discovery investments? Here are seven things Bill Alena's team looks for:
- A Proven Track Record
- A Solid Business Plan And Vision
- A Long-Term Strategy
- Convincing Engagement Metrics
- A Clear Picture Of The Market Opportunity
- Differentiation From The Competition
- Proof Of Execution
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Social Discovery Ventures Rebrands to Social Discovery Group
PRESS RELEASE - Social Discovery Ventures (also known as Dating Group), a global tech company with ~40 brands, an investment fund, and a venture studio, is rebranding to Social Discovery Group. The company's venture studio is renamed to SDG Lab.
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Dating Group's Acquisition of Cupid Media Creates a Perfect Match
TECHBULLION - In July of 2021, Dating Group acquired Cupid Media in a deal worth $51M. Dating Group's acquisition of Cupid Media created an enterprise with projected annual revenue of $300M, ~140M users, 45 dating apps in its portfolio and 100 countries covered by its products. Its portfolio now includes Dating.com, Once, XOXO, Tubit, DilMil, Cupid Media's portfolio of ~33 sites. According to Bill Alena, the company's Chief Investment Officer, Dating Group will continue to invest in or acquire companies that fit its vision for the future of social discovery.
See full article at TechBullion
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Dating Group Issues Statement on the War in Ukraine
BUSINESSWIRE - Dating Group is against the act of war and condemns the invasion of Ukraine by Russia. The company has now blocked access to their products from both Russia and Belarus. They have also closed their office in Belarus and are liquidating the company assets that are there. Dating Group operates 45 dating apps including Dating.com, Cupid Media, Once, XOXO, Tubit, DilMil, etc.
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What's Next for the Online Dating Industry
BENZINGA - The online dating industry is now transforming into something much bigger. As Dating Group Chief Strategy Officer, KJ Dhaliwal, explains, the dating industry is about more than just dating; it's all about social discovery. "Personal connections aren't always going to be about romance," said Dhaliwal. "Relationships can be for platonic friendship, entertainment, hobbies, travel, work…. you name it. And that's social discovery; people connecting around mutual interests and creating deeply personal long-term, non-ephemeral interactions." Dating Group is betting heavily on metaverse, travel, music and video. Match Group recently revealed that it has its eyes fixed upon the metaverse. Match Group CEO Shar Dubey said, "Now, the technology allows us to create experiences online where people can meet and discover each other more serendipitously and real-time through shared experiences in a way that is more akin to how they would do in real life." On the other hand, Bumble has indicated that it is keeping its sights on the online dating category. The company has recently acquired Gen Z dating platform Fruitz for an undisclosed sum.
by JT Ripton
See full article at Benzinga
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Dating.com: International Dating Trends in 2022
PR NEWSWIRE - Dating.com, part of the Dating Group - the company behind 30 online dating sites, with offices and dating experts in seven countries - released new data from its latest survey on the top international dating trends in 2022.
- In the UK, 45% of singles are sending gifts to potential dates before meeting in person
- In France, 63% of singles travels ~70 miles to meet their date
- North Americans are chatty. In the U.S., singles are more likely to meet up with their match after 30 messages are exchanged, while most Canadians wait until they've exchanged 100 messages on average.
- Worldwide, 38% of singles are open to dating someone who doesn't speak the same language as them.
- Singles in North America are spending the most on first dates, citing an average of $300. Europeans come in next, spending ~$150 to impress their potential match.
See full article at PR Newswire
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Dating Group Acquires Cupid Media for $51M
MOBILE MARKETING MAGAZINE - July 28 - Dating Group has acquired Cupid Media, an international dating company with 33 websites and a global presence for $51M (£36.77M). Cupid Media's portfolio consists of 11 core sites, including AsianDating, LatinAmericanCupid, Muslima, FilipinoCupid, ThaiCupid, and InternationalCupid. Together, the sites will boast an average of 7M monthly active users. Dating Group expects to increase its revenue to $300M.
by Gabby Fernie
See full article at Mobile Marketing Magazine
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This post also appears on InternetDatingInvestments.com
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