Tinder is an online and geosocial networking dating application that allows users to swipe anonymously either to like or dislike other users’ profiles. These profiles are based on their small bio, photos, and common interest. Two users can exchange messages after they have “matched.” The app was launched in 2012 as a joint venture between IAC and Xtreme Labs mobile app development firm.
After only two years of existence, the app registered more than a billion swipes daily. Initially, Tinder required access to a Facebook account for users to be able to use the application. From August 2019, this changed, and users were allowed to register using only their telephone numbers.
Inception
Tinder was founded in 2012 within startup incubator Hatch Labs. The founders were Whitney Wolfe Herd, Sean Lad, Justin Mateen, Dinesh Moorjani, Joe Munoz, and Jonathan Badeen. Lad and Mateen were childhood friends who came from Jewish-Iranian families in Los Angeles. They then attended Southern California University and later became online entrepreneurs.
In May 2013, Tinder was among the 25 top social networking apps online, and this was based on the number of users and also the frequency of use. Initially, users had click either green heart or a red X to select a displayed photo rather than the current swiping motion for making matches.
The first CEO of Tinder was Sean Rad, and he assumed office since its launch to 2015 when he was replaced by Chris Payne, former eBay, and Microsoft executive. In August 2015, Payne left the post, and Sean returned as the CEO. He stepped down in December 2016, and Greg Blatt took over while Rad became the chairman.
Evolution
Since its inception, Tinder became the very first “swipe app,” which is now a common term for different apps. The app introduced the ability to go back and rejected profiles in 2015 via a function known as “rewinding” function. The function allows users to correct mistaken activities on the app.
Tinder online was launched in March 2017, and this was a web-optimized version to enable people to access the dating app at their desktops. The version was initially available in some countries, but it was launched globally in September 2017. In August 2018, the app launched “Tinder University.” This was a feature that allows the college students to easily connect with other students within their campus and also at nearby schools.
Tinder launched a lighter version of the app in May 2019, and it was called Tinder Lite. The version was aimed at growing markets in areas where storage space, bandwidth, and data usage are a concern. In January 2020, Tinder launched a panic button as well as an anti-cat fishing tech. This was to improve the safety of all the users where they can hit the panic button if anything goes wrong.
The app which is currently available in 196 countries has features like swipe, which is a central design that enables users t swipe right to like and left to continue searching. Other features are messaging, Instagram integration, and the panic button. In August 2017, Tinder introduced a premium subscription feature. The feature allows the user to see other users who have liked their profile before swiping. The feature goes by the name of Tinder Gold.
Awards & Achievements
One of the biggest achievements of Tinder is being one of the biggest online dating apps in the globe. In 2013, the app won the Crunchie Award from TechCrunch for Best Startup. In 2015 Tinder emerged the winner of the Webby Award for the Webby Breakthrough of the Year. Another achievement Tinder has had to help several people connect with their soul mates.
Net Worth of Tinder in 2024
As of April 2024, The estimated net worth of Tinder is $10 billion. In the year 2019, the app had annual revenue of $2.1 billion, which was double the amount they made the previous year. The revenue mostly comes from their subscription product Tinder Gold. The app also has more than 5.9 million subscribers, and their regular visit to the app greatly increases its revenue.
Tinder is an online dating application that is among the most successful dating apps in the world. It was launched in 2012, and it has been described by many as the best social platform for people meeting strangers and eventually have a chance at love. The app that operates globally has a total subscription of 5.9 million, and it is ranked among the top social networking apps online.