My Kitchen Rules finalist Olga Rogacheva pictured left has launched a dating app that matches people based on intelligence. My Kitchen Rules finalist Olga Rogacheva and entrepreneur Gi Singhhas have launched a dating app that matches people based on intelligence. The LoveSmart. This new type of 'smart dating' avoids matching people who may not be on the same wavelength. The app predominantly aims to 'cut through the superficial clutter' of people by using a unique testing mechanism.
I interviewed him to find out where IQ Elite is going now. IQ Elite was established in as a matchmaking site that uses as the main matchmaking criterion not a personality test but an intelligence test. Our matchmaking is complemented by other psychometric tests, such as personality, emotional intelligence and love style test.
What is the track record of IQ Elite? Since its inception in over 20 million people have taken psychometric tests on IQ Elite and over 8 million people have ed the site.
The science behind our matchmaking
During this time many couples have told us about the love they found on IQ Elite, including getting married and forming a family. What does a typical IQ Elite user look like?
The concept of IQ Elite seems to resonate more with the older generation, and thus our active users are mostly above Are you profitable? Yes, we are profitable but at a low level. However, over the last 10 years around 1 million euro have been earned.
Who meet your expectations
Unfortunately, revenue is slowly declining. This has to do with the fact that we do not have a comparable density of users as similar sites such as eharmony, eDarling and Parship. Why do you want to sell to or partner with a larger player?
To be honest, after working on the company for almost 10 years, the team members would like to move on. Also, in order to become profitable we reduced our IT development team four years ago, and stopped improving the product.
New dating app matches people based on intelligence - and singles must complete an iq test to determine how 'smart' they are
That means that our dating product, that is build on Python and React is not optimized, buggy and not mobile friendly. Thus currently we are faced with the tough decision to either invest substantially into the product or merge with another player who already has an attractive product.
What sales prices are you looking to get? It is hard to say: On the one hand we have over 8 million registered users, almostmonthly visitors and are profitable, so we were hoping to sell for at least half a million.
For example, eharmony, with a cumulative revenue of over 1 billion USD was apparently acquired for only 85 million USD. Also, our users and revenue have been declining. For those reason, in an outright sale we would want to get just k euro so that we could pay back our investors, while in a partnership, we would be Ok with k euro upfront and an earn-out that depends on the future revenue.
Interested parties can at office intelligentelite. See all posts on IQElite. This post also appears on InternetDatingInvestments.
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