Startup Model – Social Networking for Singles

THE MODEL: A platform for single to find and make new friends. Users can search using filters like age, education, sex etc. Users can browse invisibly and once paired can send messages and gifts on the app.

STARTUP: Paktor (Singapore startup)

WHAT I LIKE

Core Idea – Social networking with a definite goal (of making friends) holds good value for the users.

Easy Usage – Users can sign up and start using the app within 30 seconds. Also the interface is great and easy to use as users can like or dislike a profile by simply swiping the profile.

High User Engagement – Tools like anonymous browsing and good filters for browsing profiles ensure that users are more engaged with the product. Also the app is locality centric, i.e. users can find interesting people close to their location. This again increases the probability of a user finding someone interesting to them.

CONCERNS

Competition – The app has been able to scale well in South East Asia. With strong competitors like Tinder in the global market, scaling beyond might be difficult for the startup.

Revenue Model – The startup is still not looking to monetize. Building a revenue model which is substantial and sustainable in such apps is difficult.