Size of online dating market

Posted by / 20-Oct-2016 08:36

Size of online dating market

In recent years, a new generation of tech savvy individuals has emerged, which regularly uses devices to keep in touch with their friends and relatives, as well as for access to online dating sites or apps.

In addition, older adults have also discovered the benefits of online dating services to connect with other people; and today they represent a significant segment of the online dating market.

These days, online dating makes it easier than ever to find your "lid." While dominated by big name, mass audience sites, like and e Harmony, a growing number of niche sites are finding success targeting singles looking for something very specific.

Of course there are sites aimed at specific religious or ethnic groups, but there are also those who aim to match couples with very specific interests.

Right now, there are already several mobile apps, but all of them are still able to build their own user base.

They think the app can eventually generate around 0 million a year, like Meanwhile, venture capitalists are leery of giving any one dating startup too much funding.

While funding to dating firms was up in 2014, the size of the rounds is actually declining, according to data from Priv Co.

And relatively small amounts of funding can't support the hefty marketing budgets needed to acquire more and more users, according to Evans.

When it comes to finding love, "there's a lid for every pot," as the saying goes.

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The Passion Network, for example, is a small empire of 250 dating hubs like Thanks to the growth of such sites, the industry has expanded at 3.5 percent a year since 2008 — right through the recession — to become a $2.1 billion powerhouse.