Opportunity Analysis of Dateplay
Vana Koutsomitis, a personal matchmaker, was looking to expand her passion of matchmaking and help bring more people together. The best possible solution that would help bring not only thousands, but millions of people together was a dating app. As there were other several dating apps in the market, Van wanted to bring a unique concept, that would combine dating and gaming in one single app. This was the birth of Dateplay, the first app of its kind. The app uses a special matching algorithm to pair potential couples after collecting their personality data through multiple choice quizzes.
On signing up, the user adds a profile picture, after which he/she is encouraged to engage in a series of…show more content… The industry is currently booming with new websites and apps getting in the game. Dateplay is a newcomer in market that is dominated by big giants such as Tinder, Happn, Match.com, and eHarmony. Happn targets individuals aged 25 and above, most of Tinder users re aged 27 and above, Match.com targets 30 and above, and eHarmony at 35 and above. The market is projected to continue growing as more people turn to online platforms in search of love. Tinder is one of the best performing apps in the business, with paying subscribers ranging between 100,000 and 290,000 users. Dateplay is however at an advantage as estimates show that people aged between 18 to 24 years will become the most valuable users. The market is currently underserved, and there is no dominant platform.
Current analysis of the market shows that people aged between 18 and 24 spend almost 90.4% of their weekly time staring on their Smartphone screens. Out of this time, the age group spends a total of over 11% of the time on online games. According to estimates made in the year 2015, the mobile gaming industry is valued at $20 billion. Out of all Smartphone users worldwide, people aged between 18 and 24 are the most active. This totals to a total of 100 million potential users, out of over 511 million users of all ages in the online dating industry. Dateplay aims at capturing only 5% of the 18 to 24 market segment,