For Valentine’s Day, 1961, the cartoonist Charles Addams—of Addams Family fame—drew a futuristic cover for the New Yorker.
It showed a massive, wall-sized computer, with hundreds of blinking lights, ejecting a tiny paper card with a red heart on it for its operator, who was dwarfed by the computer’s hulking form.
The drawing of the computer was supposedly based on the huge SSEC (Selective Sequence Electronic Calculator) mainframe that IBM had shown off in its Madison Avenue showroom in New York City from 1948-1952.
The online dating industry is a big market currently raking in B in annual revenue and expanding at an annual rate of 5% from 2010 to 2015.[i] Young adults, age 18-24 years old, have led this surge in usage with 22% having used a mobile dating app, compared to just 5% in 2014.[ii] With users spending an average of 90 minutes a day browsing through dating apps, logging in on average 11 times a day, dating sites have an incredible opportunity to capture value from these users looking to find a connection.[iii] Source[iv] However with over 500 dating apps now on Apple’s App Store[v], it is getting harder and harder for dating apps to create value through scaled growth of network effects and to capture financial value.
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In 2015, online dating sites and mobile dating apps comprised nearly 75% of the .4 billion per year dating industry, according to The Wall Street Journal.
Yes, we all know that online dating is popular, but a new study quantifies just how web-driven the American romantic scene has become.
For once, technology has earned the adjective “disruptive.” In 20, the authors asked a nationally representative group of more than 4,000 Americans, including roughly 3,000 couples (who’d met as long ago as 1940), how they came to be together.In this industry ridden with multihoming, the Wall Street Journal found that “the abundance of options means (consumers) are rarely loyal to one dating site.”[vi] Tinder, the mobile dating app that introduced the concept of “swipe right” and “swipe left” into our daily vocabulary, has found value in being one of the first movers in the mobile app dating space.With 50M users worldwide, Tinder boasts that its user-friendly platform produces 1.2B profile views a day leading to 15M matches!Intrigued, we took to the streets—or rather, Google Consumer Surveys It turns out age is the biggest predictor of how people feel about online dating services.Confidence in the success of these services decreases with age.While the majority of 18-24 year-olds are optimistic about online dating prospects, the 65 group is more guarded; about 70% of them think online daters are The younger crowd is more open to online dating, perhaps because they’re more comfortable with technology overall.