Five-year-old “slow dating” app Once has been acquired by the Dating Group, one of the largest companies in the dating world, for $18 million in cash and stock. Dating Group has 73 million registered users across a range of portfolio apps, including Dating.com.
Clémentine Lalande, co-founder and CEO of Once, will continue leading the company under a two-year agreement. Fellow co-founder Jean Meyer retained a stake in the company after departing two years ago.
Once has 9 million users on its platform, while the startup also garnered a further 1 million from a spin-out app it later launched called Pickable.
Once is a dating app that uses matching algorithms to deliver just one match per day to each user. It pitched itself as an alternative to the frenetically paced apps such as Tinder and Bumble. Indeed, Bumble revealed last week that two in five people of those it surveyed are taking longer to get to know someone as a result of pandemic lockdowns. And 38% Bumble users admit that it had made them want something more serious. So Once had a ready market.
Each pair on the Once app has 24 hours of each other’s attention and can continue chatting if they “like” each other. The AI looks at the account’s info, dating preferences and previous history in order to find the best possible match. Users can also rate each particular profile to let the AI better understand their taste.
In a statement, Lalande said: “I am thrilled to join the Dating Group today, both because of their proven focus on post-swiping dating alternatives, and to leverage the huge synergies between Once and Dating Group. In such a concentrated and competitive market having a large partner will allow us to augment our reach and accelerate geographical expansion”.
Bill Alena, chief investment officer at Dating Group said: “We strongly believe in the concept of AI and making quality matches. We see a huge potential in integrating Once into our portfolio. We’re excited to have Clémentine join Dating Group, she and her team have built a fascinating product and with this acquisition, Dating Group expands deeper into the Western European market.”
Dating Group has offices in seven countries and a team of more than 500 professionals, with more than 73 million registered users across the entire portfolio. Its brands include Dating.com, DateMyAge, Dil Mil, Cherish, Tubit, AnastasiaDate and ChinaLove.
Source: Tech Crunch Social
‘Slow dating’ app Once is acquired by Dating Group for M as it seeks to expand its portfolio