As Jody Watley famously sang, “I’m looking for a new love, baby.” And as the ongoing pandemic, rise in remote work and resulting isolation cause more people to rethink their life choices, new love is sure to be a top priority for millions of people in 2022. But as the lonely set out on their journeys to find new love in the era of remoteness, where will they go?
Chances are, a good majority will find their way to one of Dating Group’s popular apps. For those unfamiliar with Dating Group, it‘s now the world’s largest global dating company, with more than 140 million users, 45 dating apps in its portfolio and 100 countries covered by its products.
A diverse portfolio of popular relationship-based services such as Dating.com, Cupid Media, Once,, XOXO, Tubit and DilMil complements Dating Group’s presence in more international markets than any other dating-focused company. And this reach is what puts Dating Group’s revenue estimates at around $300 million and growing.
Dating Group’s multi-billion dollar valuation
If Dating Group were publicly traded, it would have a market valuation near that of its closest competitors, Match Group and Bumble. This makes the privately held company a definite force within the market. But what makes Dating Group unique is that it doesn’t sit entirely within the dating silo.
As Dating Group Chief Strategy Officer, KJ Dhaliwal, puts it, “Dating Group is a social discovery company with a global presence that transcends culture, genders, locations and preferences.”
Dhaliwal’s statement brings to the surface a critical point of differentiation between Dating Group and its competitors. Dating Group is more than just a “dating” company; it’s all about social discovery.
Social discovery, not social media
“People want to form genuine relationships from wherever they are and regardless of the channel,” said Dhaliwal. “It’s not always going to be about romance; relationships can be for platonic friendship, entertainment, hobbies or even work. That’s social discovery, and it’s all about people connecting around mutual interests and creating deeply personal long-term, non-ephemeral interactions.”
Many social media platforms pay lip service to social discovery, but few deliver on it because of how they are designed. The interactions on platforms like Twitter or Instagram are directed by account holders who aren’t that interested in spending much time online with the people who follow them. For example, that crazy relative that’s on your Instagram account that you only accepted out of family obligation. In other words, social media is all about following people or getting followers.
“Social discovery is all about creating networks of trust where users connect based on similar interests, not to gain followers or soapbox their thoughts and ideas,” added Dhaliwal.
Betting big on the metaverse
With a keen sense of how interpersonal relationships will continue to change, Dating Group plans to build new social networking apps and tools focused on entertainment, gaming, and meeting new people to help its users create organic connections for mutual benefit.
And in a move that will catapult its future to even greater heights, the company also has its eyes set on the metaverse, which many are touting as the next technology platform of choice for those looking to do what Dating Group envisions. Even Bloomberg sees the market climbing to an incredible $800 billion by 2024.
But what is the metaverse? Dhaliwal says, “the metaverse is a collective virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the Internet.”
Although it might seem distant to some, now is the time to prepare when it comes to this future. And that’s precisely why Dating Group is now gearing up to make the metaverse its next frontier for entertainment, relationships and life.
What’s next for Dating Group
“The follow me model of attraction is dated and this has the next generation of agile-minded, change-focused business leaders looking for new, authentic ways to engage with customers, audiences, stakeholders and society at large,” explained Dhaliwal. “The next chapter in the story is social discovery, with the big stage being the metaverse. It’s a new paradigm for how we will all find entertainment, opportunities, relationships and more. And Dating Group is poised to have a strong presence there.”
In terms of Dating Group’s approach to entering the market, Dhaliwal hinted, “we want to be at the forefront of building the future of the metaverse within the context of social discovery and plan to launch and acquire a host of apps that will allow people to connect and communicate with each other around shared interests and experiences.”
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