Once Dating App Acquired for $18M - Dating Group Expansion

The “slow dating” application Once, established five years ago, has been purchased by the Dating Group, a leading entity within the dating industry, for a total of $18 million comprised of both cash and stock. The Dating Group currently boasts 73 million registered users across its diverse collection of applications, notably including Dating.com.

Clémentine Lalande, currently serving as CEO of Once, will maintain her leadership position within the company under the terms of a two-year contract. Jean Meyer, a co-founder, maintained ownership in the business following his departure in August 2019, alongside fellow co-founders Guillaume Sempe and Guilhem Duche. Once was initially introduced in 2014.

The Once platform supports 9 million users, and an additional 1 million users were acquired through Pickable, a related application launched as a spin-off.

Once differentiates itself as a dating application employing matching algorithms to present each user with a single, curated match on a daily basis. It positioned itself as a contrast to the rapid-pace of applications like Tinder and Bumble. Recent data from Bumble indicates that two out of every five individuals surveyed are taking more time to build connections due to pandemic-related restrictions. Furthermore, 38% of Bumble users have expressed a desire for more meaningful relationships, demonstrating a receptive audience for Once’s approach.

Within the Once application, matched pairs are given a 24-hour window for interaction, with continued communication contingent upon mutual interest. The application’s artificial intelligence analyzes user account information, stated dating preferences, and past activity to identify optimal matches. Users also have the ability to provide ratings on profiles, further refining the AI’s understanding of their preferences.

In a formal statement, Lalande expressed her enthusiasm regarding the acquisition, citing the Dating Group’s commitment to dating alternatives beyond simple swiping and the potential for synergy between Once and the Dating Group’s existing resources. She believes that a strong partner will facilitate broader reach and faster expansion into new geographic markets.

Bill Alena, chief investment officer at Dating Group, stated: “We have strong confidence in the power of artificial intelligence to create high-quality matches. We recognize significant potential in incorporating Once into our existing portfolio. We are pleased to welcome Clémentine to Dating Group; she and her team have developed a remarkable product, and this acquisition allows Dating Group to strengthen its presence in the Western European market.”

Dating Group operates with a team exceeding 500 professionals across offices in seven countries, and manages a total of over 73 million registered users across its entire brand portfolio. This portfolio includes brands such as Dating.com, DateMyAge, Dil Mil, Cherish, Tubit, AnastasiaDate and ChinaLove.