Snack Dating App Raises $3.5 Million

A New Dating App Enters the Market: Snack

Following substantial growth in the online dating sector during 2020, and the recent Bumble IPO, a new competitor has emerged.

Introducing Snack

Snack, created by Kimberly Kaplan, aims to integrate the engaging format of TikTok with the world of online dating.

Kaplan brings significant experience from her time at Plenty of Fish, where she was an early team member. She oversaw product development, marketing, and revenue generation, and played a key role in the company’s eventual sale to Match Group for $575 million in 2015.

Understanding User Behavior

Kaplan observed a distinct trend among dating app users, particularly within the Gen Z demographic. Users frequently transitioned connections made on platforms like Bumble or Tinder to apps such as Snap and Instagram.

On these platforms, they preferred watching each other’s stories and engaging in more relaxed interactions, rather than maintaining the often-pressured direct messaging environment of traditional dating apps.

The Rise of Short-Form Video

This shift coincided with the increasing popularity of TikTok, demonstrating a broader change in consumer preferences towards creating and consuming short-form video content online.

How Snack Works

Snack is designed as a video-first dating application. Users are prompted to create and share videos on a public feed.

Instead of swiping through individual profiles, users can scroll through a feed similar to Instagram. Liking a video initiates the ability to comment, and mutual likes unlock direct messaging.

Current Development and Funding

The app is currently in its initial stages of development. Currently, location-based filtering is not available to ensure a robust video feed for all new users.

Kaplan also stated that Snack is actively developing video editing tools, mirroring the functionality found on TikTok, to empower users to create compelling profiles.

To date, Snack has secured $3.5 million in funding. Key investors include Kindred Ventures, Coelius Capital, Golden Ventures, Garage Capital, Panache Ventures, and N49P.

Monetization Strategy

While monetization is not yet implemented, Kaplan believes her experience in the dating industry will prove valuable. Snack is expected to adopt a similar revenue model to other dating apps, potentially utilizing premium subscriptions and advertising.

Team and Diversity

The Snack team consists of 10 individuals. Kaplan highlighted the team’s diversity, noting that 60% of the team is diverse and 40% identify as visible minorities.

Challenges and Future Outlook

“The most significant hurdle is competing with established companies possessing substantial financial resources,” Kaplan explained. “Gaining initial traction is challenging, but I have strong faith in our product and recognize an unmet need in the market.”

She believes that video will ultimately disrupt the existing dating landscape, and that a new platform will eventually surpass Tinder in popularity.