Swipe right if you want to pay for an otherwise free hook-up service. That’s what Tinder hopes you will be doing next month when it launches a host of premium features for its popular ‘dating’ app.
Tinder currently faces the same problem as most social networking sites; namely monetisation. Despite being valued at around $1 billion and creating millions of hook-ups, the site has thus far struggled to rustle up any revenue.
Tinder CEO Sean Rad aims to tackle this problem by adding a range of freemium options to the app.
Speaking at the Forbes Under 30 Summit in Philadelphia, Rad vaguely mapped out the service’s new direction. He stated that by early november the platform will adopt new features that will take advantage of, and go beyond, its location-based service. It is likely that the new premium model will allow users to connect with potential matches in locations beyond their chosen city, thereby extending their Tinder reach.
Therefore, if you’re a Tinder user currently residing in London, you could soon be able to find matches in other European countries you may be intending to visit – at a price.
“We are adding features users have been begging us for,” said Rad. “They will offer so much value we think users are willing to pay for them.”
Rad added that there will be no changes to Tinder’s current format. Although he refrained from mentioning actual user numbers, the young CEO did state that people now swipe through 1.2 billion profiles a day and that each day Tinder makes more than 15 million matches.
Forbes claims that the premium model is among a range of monetisation strategies the app’s investors have in mind.