News

Making a date with the crowd

September 16, 2016 • By TAB team



In its recent article "Crowd is clamoring to play the dating game", the Times profiled former The Apprentice contestant Vana Koutsomitis and her current project DatePlay, which is currently crowdfunding on Seedrs.

Inspired by this article we used Crowdsurfer Pro to see whether other dating services are turning to crowd finance for funding and what we could find out about them.

In its recent article "Crowd is clamouring to play the dating game", the Times profiled former The Apprentice contestant Vana Koutsomitis and her project DatePlay, which is currently crowdfunding on Seedrs.

We decided to take this topic for a drink and we used Crowdsurfer Pro to swipe right (you'd be surprised how much mileage we got out of these weak puns) to see whether other dating services are turning to crowd finance for funding.

Are dating services courting crowd finance?

Within the last year, there have been 17 campaigns which have either closed successfully or, as of 7th September, are currently funding. Compared to other sectors we have profiled, such as fashion or the restaurant industry, it seems the dating scene has yet to fully embrace crowd finance. The total raised by these 17 campaigns sits at $655,100, however with 8 campaigns still live, this figure can be expected to increase.

How much can you expect to raise?

If you wanted to raise funds for the next big dating thing, you'd need to know that of the 17 campaigns, 15 raised $4,000 or less. The exceptions were Koutsomitis’ DatePlay which raised over $250,000, and Rendeevoo, who achieved $82,800 in their March-June 2016 campaign.

We took a closer look at the campaigns that raised $4,000 or less:

How many backers will you need?

In the case of our sample, the results seem to be clustered at both extremes of the scale. Most campaigns had comparatively small targets of under $20,000 and achieved this target with the help of a correspondingly low median number of backers (19). At the other end of the scale, the most ambitious campaigns, the two raises seeking $120,000 and over, have a median backer number of 361.

What type of crowdfunding should you choose?

This depends on levels of funding you require. Of the different crowdfunding options, 12 of the 17 dating businesses opted for rewards, 2 opted for donations-based and 3 for equity.

For the rewards and donations based campaigns the average raise was less than $1,000, which will have limited impact on a growing business. The 3 equity campaigns raised $2,600 (Rendeevoo Nov 2015-Jan 2016 raise), $82,800 (Rendeevoo Spring 2016 raise) and $289,500 (DatePlay).

What's the lowdown on the largest raises of the last 12 months?

DatePlay

Platform
Funding type
Close date
Seedrs
Equity
Sept 2016
Goal
Raised
% Raised
$159,600
$270,600
175%

Rendeevoo March-June 2016 Campaign

Platform
Funding type
Close date
Seedrs
Equity
Jun 2016
Goal
Raised
% Raised
$71,000
$82,800
116%



Soberse

Platform
Funding type
Close date
Kickstarter
Rewards
Aug 2016
Goal
Raised
% Raised
$1,500
$4,000
269%



Rendeevoo Nov 2015-Jan 2016 campaign

Platform
Funding type
Close date
Seedrs
Equity
Jan 2016
Goal
Raised
% Raised
$2,600
$2,600
100%


Take advantage of Crowdsurfer to research your own fundraise or to answer any other questions you have about crowd finance. Register here to access the most current and interactive data intelligence on the industry.


What is Crowdsurfer Pro?

Crowdsurfer Pro is the world's most trusted, data intelligence service for the global crowd finance phenomenon. Using big data engineering and machine learning, Crowdsurfer Pro distils billions of data points on individual raises into usable intelligence for fundraisers, investors and regulators.