[FW500] How Happn Finds Its Place in a Consolidating Dating Market
Earlier this month, MagicLab, the UK holding company behind dating apps Badoo, Bumble, Chappy and Lumen, was acquired by Blackstone in a deal that valued it at $ 3 billion. The American investment fund was looking to invest in a high growth company. And MagicLab, with its several hundred million users worldwide (including 450 million at Badoo) and its goal of $ 500 million in revenue in 2019, was the ideal profile.
What to try to compete with the giant Match, which now owns around forty brands, including Tinder, OkCupid, Meetic and DisonsDemain. But this acquisition mainly reflects the consolidation of a competitive market with many verticals, and which has, for example, historically seen the merger of Match and Meetic, or the acquisition of French Attractive World by its German competitor Affinitas.
Today, dating represents ” a group market “And” a real industry ”, according to Didier Rappaport, co-founder and CEO of Happn, a French geolocated dating application launched in 2014. And for good reason: the market today weighs around ten billion dollars worldwide, according to various studies.
Founded by Didier Rappaport, Antony Cohen and Fabien Cohen, Happn has therefore chosen the geolocation segment to develop. The company raised € 12.5 million from Raine and Idinvest in 2015 to expand into Asia. Funding that followed an $ 8 million fundraiser from DN Capital, Alven Capital and several private investors including Fabrice Grinda (originally from Aucland) and Paul Gardi (InterActiveCorp), to begin its international development.
Today, the profitable Happn boasts 77 million accounts worldwide, which places the company in the fourth most popular dating apps or sites in the world, behind Tinder, Tantan and Badoo. How does the company, which now records tens of millions of euros in turnover, find its place in a digital dating industry? More details in our interview with Didier Rappaport, co-founder and CEO of Happn:
(00:26) Happn’s Debut
(01:56) Mobility, a revolution for dating
(03:22) India, a third of Happn’s user base
(05:22) France, number one market in terms of monetization
(06:03) Should we monetize users more?
(08:24) Portrait of Happn’s customers
(09:30) A turnover of several tens of millions of euros
(10:41) BtoB, an almost zero share of turnover
(12:01) A consolidating market
(13:47) Exit is not a goal
(3:00 PM) The arrival of Facebook Dating, a threat?
Happn: the key data
Founders: Didier Rappaport, Antony Cohen, Fabien Cohen
The head office: Paris
Market: geolocated dating application
Funding: $ 22 million from Raine, Idinvest, Havas, DN Capital, Alven Capital, and several private investors
FW500 : le classement des 500 entreprises de la Tech française
For the fourth consecutive year, FrenchWeb establishes a panorama of French Tech companies, whether they are start-ups, SMEs or large groups: the FW500.
The FW500 focuses on French companies, their potential, their performance (annual growth rate of turnover over the last three years, workforce, etc.), in order to establish a ranking of companies in relation to their dynamic of development.