It's online dating with personal matchmakers
Lovetagged is a matchmaking service that enables you to match your friends for romance and dating. Unlike traditional online dating sites you are matched by real people who know you!
AN INVESTMENT OPPORTUNITY IN A TRULY DISRUPTIVE DATING PLATFORM
Online dating today is a huge global market, but also in many ways a very 'old school' experience. Most dating sites are based on the exact same model - only slightly differentiated from each other primarily by claiming better matching algorithms or targeting more narrow segments e.g. educated, beautiful, ethnic, gay, farmers etc.
LoveTagged reinvents online dating by introducing real people in the matching process. These people are called matchmakers. In our case they are your friends, they do it for free and they know you for the person you are!
To activate these matchmakers we are building a network of ambassadors and we are starting out by offering a significant share of the company to a limited number of people who wants to join us in building a massive success!
LOVETAGGED: A BETTER DATING EXPERIENCE
Forget online dating websites: Lovetagged lets you play matchmaker for your single friends by setting them up via Facebook
LoveTagged is a new Facebook-based matchmaking application that allows users to be virtual matchmakers. LoveTagged will take the awkwardness out of being set up with strangers, and the guesswork out of online dating websites. LoveTagged lets users 'LoveTag' single friends and recommend them to other people in their immediate network.
LoveTagged is Founded and developed by Christian Majgaard who originally got the idea at his brother's wedding. His best man was actually the matchmaker who set the groom up for a blind date with his new wife.
Christian Majgaard refers to the fact that the two most common ways of meeting people these days are through blind dates, and online dating websites, both of which can be awkward: 'By being set up with mutual friends of friends, you get a higher chance of success and you will be able to do a little pre-research and approval before the first mutual contact.
LoveTagged is also a more human approach to matchmaking than the algorithmic method used by some dating websites, the idea being that your friends will know you - most likely better than you are able to describe yourself in an online dating profile.
What's more, since the couple being set up already have mutual friends, they are more likely to have other things in common, too. Lovetagged is an opportunity to use Facebook as a way for single people to have fewer bad dating experiences,
New users can also sign up and request their friends to lovetag them, instead of waiting to be set up.
LoveTagged is launching on Facebook on 3 July, a mobile-friendly version is also in the works and will be available soon.
THE PERFECT TOOL FOR MATCHMAKERS
Lovetagged is not directly competing against traditional online dating - rather provides an alternative that involves a third-party, i.e. your friends. These friends or matchmakers are the first target for our launch - and today, they have no competing place to go. Basically it is a 'blue ocean strategy' applied to online dating.
LoveTagged will motivate matchmakers with a reward system where increased activity adds to your chances of winning prizes from our sponsors. For example from every 10 successful matches we draw a winner of movie-tickets and/or restaurant coupons. For increased activity, e.g. when your matches change status to being 'in a relationship' you will compete for the title of champion matchmaker and a good chance of winning larger prizes e.g. a trip to Paris and VIP concert tickets.
Unlike traditional online dating sites you will not pay for membership but matches will be charged if and when they actually decide to accept the match, i.e. both parties have to accept and only then will they be charged a 'symbolic' fee of 1 EUR.
LoveTagged is a simple, yet effective way of meeting like-minded people for dating and friendship. The concept is easy to execute, the platform already developed and the team is in place, ready to perform.
Timing is in our favour
We have already developed the platform, and are ready to kick off the games with high hopes for adaptation by online daters and their friends. After a soft launch in Denmark we will use our findings to optimise a ramp-up campaign with increased marketing and sponsored prizes and a subsequent launch in the UK. Following this, we will start further dissemination by gradually starting campaigns in EU-countries
Motivating MatchMakers is crucial to the successful roll-out of LoveTagged. We believe that many people have that special gene that makes them MatchMakers by heart, but a lot more have both the inclination and means (lots of friends on Facebook) but they will perhaps need a little motivating.
We will target both MatchMakers and singles in our key segments ,
(1) 'The young' who are aged 16+ and still have not settled/married with a steady partner. This segment is not into online dating. They consider it NOT COOL, but a lot of them are still unsecure/shy and may have a hard time 'breaking the ice' in front of a possible match.
(2) 'The experienced' who are aged 30+ and probably divorced, looking for the truly right one this time. They are heavy users of online dating, but they are also somewhat tired of the search process - 'it's like finding the needle in the haystack'
We will create awareness and motivation through a 3-sided marketing strategy,
- 'Network' marketing: Kicking off with a major push - using timeline posts, shares/likes, invites/tags and direct mails - by founders, shareholders and their network we will reach a substantial share of the target group in Denmark. .
- Targeting ambassadors and connectors via PR and direct marketing.We will get the attention of bloggers and dating industry influencers, the tabloid press and TV and radio.
- Traditional online advertising using competitions: FB advertising, Google adwords and affiliate marketing. Adding sponsors from the leisure and travel industries will secure an ongoing motivational campaign at reduced cost.
The fundedbyme investment round of EUR 68.000 will secure the release of v1.0 on Facebook, web and mobile platforms and an international launch campaign. The use of the proceeds will be divided as follows:
- 20% Development
- 60% Marketing
- 20% Administration and contingency costs
It is our belief that we can kick-off a word of mouth effect that will diminish the need for ongoing and expensive marketing campaigns, rather let sponsorships drive the traffic.
We believe in a big exit potential with existing social media platforms or public/venture. The current market valuation of social media users average 100$ per user across platforms like Twitter, Whatsapp, Instagram, Facebook and Linked In.
With the business model proven solid, we will have several options that does not necessarily include the need for further financing rounds. As we are expecting to make a healthy profit in our first years of operations you are likely to get dividends from your investment, however we will also consolidate and invest in further development and marketing if necessary. The main goal is within 2-4 years to join forces with bigger players that within this timeframe will be willing to pay a price of 100+ times the current valuation.