After the tremendous growth of online dating in 2020 that culminated with Bumble’s epic IPO last week, a newcomer has thrown his hat in the dating app ring.
Nibble, founded by Kimberly Kaplan, seeks to merge the popularity and format of TikTok with the dating world. Kaplan is from Plenty of Fish, where she was one of the dating site’s first employees. She led product, marketing and revenue and was part of the executive team that ultimately sold PoF to Match Group for $ 575 million in 2015.
Kaplan said they noticed specific user behavior among people using dating apps, especially the coveted Gen Z demographic. Essentially, people would correspond on Bumble or Tinder and immediately move the connection to apps like Snap. and Instagram, where they would watch each other’s stories and flirt in a more casual way, rather than pursuing a more pressured DM conversation about dating. applications.
Around the same time, TikTok gained popularity, showing a shift in the attitude of the average consumer towards making short videos on the web.
Snack is a video dating app that asks users to create a video and post it to a stream. Other users can scroll through a feed (Instagram-like) rather than swiping right or left on individual profiles, and when someone likes a video it opens up the option to comment. Once two users have liked each other’s videos, the DMs are opened.
The app is still in its infancy, so there is no location filtering yet to ensure that everyone who joins the app has a full stream of videos to browse. Kaplan said Snack is also working on video editing features similar to TikTok to allow people to be very creative with their profiles.
So far, Snack has received $ 3.5 million in funding, led by Kindred Ventures and Coelius Capital, with participation from Golden Ventures, Garage Capital, Panache Ventures and N49P.
While we’re still a long way from monetization, Kaplan says her experience in the dating space should be beneficial when looking to generate income at Snack, and the startup will likely follow the same playbook as others. dating apps, using premium memberships and potentially ads.
There are 10 people on the Snack team, and Kaplan says the team is 60% diverse, with 40% of the employees being visible minorities.
“The biggest challenge is playing against big players who have a lot of capital,” Kaplan said. “Getting started is tough and getting that initial gain is tough. I fundamentally believe in our product and see this opportunity open in the market. I really believe that someone will come and spoof Tinder, and it will be around the video.