January 2015: Tinder doing 1.5 billion swipes a day, 21 million matches a day, acquires Chill, makers of Tappy.
Adam Rifkin stashed this in Tinder!
Jordan Crook explains:
Tinder is now seeing 1.5 billion swipes every day, 21 million matches each day, and just yesterday surpassed the 5 billion match mark. For some context, Tinder hit 1 billion total matches in March of 2014, and in October 2014 the company was seeing 1 billion swipes a day and 12 million matches a day. Growth isn’t slowing, and January is always a big month for dating apps, so I wouldn’t be surprised to see the company hit 2 billion matches in the coming months.
But with growth comes added responsibility to surprise and delight the user.
Tappy is actually pretty quick, and in the limited time I was playing around with the app, I see it as a competitive offering in a saturated messaging market. Why let all that go?
“I’m a bit of a historian when it comes to the internet, and I know that things that grow like Tinder has don’t come around very often,” said Brian Norgard, Tappy co-founder. “The chance to work with Sean was too strong of a draw because we knew that if we could couple Tappy DNA with Tinder DNA that we can do awesome stuff. Messaging has gotten very overheated, and this gives us the chance to lead from the front.”
For a company focused on romance, Tinder hasn’t been a walk on the beach. It’s been an arduous journey from Hatch Labs startup to household name.
The company was founded in 2012 by Sean Rad while working in the Hatch Labs incubator, funded by IAC and Xtreme Labs. He paired with Joe Munoz for the original project (called MatchBox) and put together a team, which included former CMO and co-founder Justin Mateen, co-founder Jonathan Badeen (who is still at the company), along with now Bumble co-founders Chris Gulzcynski and Whitney Wolfe.
Wolfe and Mateen dated for more than a year while Tinder grew, but it didn’t end well. Wolfe left the company in April of 2014 and went on to file a sexual harassment and sexual discrimination lawsuit against Tinder, Sean Rad, and Justin Mateen, which was settled out of court with no admission of wrong-doing from either party.
Mateen was indefinitely suspended from the company during the lawsuit and eventually resigned entirely.
In September, Tinder participated in a fairly odd exchange, offering Benchmark an equity stake in the company in exchange for Matt Cohler’s experience and guidance. Even with the Benchmark deal, IAC still has a controlling stake in Tinder.
Cohler has taken on a significant advisory role at Tinder, with no financial investment. At the time, Tinder was reported to have a valuation of $750 million.
Since then, Rad is leaving the CEO position (he will remain as President and continue serving as a member of the board).
Congrats to Chill and Brian and Dan and Sean.
These two teams seem like a good match.