Rad: We are helping people meet new people. It is in my opinion one of the biggest, most untapped opportunities that exist today when it comes to social. Just like Facebook is the platform to connect with your existing friends, we want to be the platform that you use to connect with new people.
Is there a reason Tinder started with a younger demographic?
Rad: Since college students are not your likely candidates for a dating app, given that they live in a highly social environment, we figured if we can get them to use Tinder, then it’s a signal that we’ve built a worthy product. But Tinder is not just for college students. It’s for everyone now -- 77% of Tinder users are between the ages of 18 and 25.
How do you measure success and user engagement?
Mateen: The average user opens Tinder six to seven times per day, with 61% of our users logging in daily, 75% weekly and 96% monthly.The metrics that we look at generally are the numbers of matches we create, and we have created about 20 million matches. Seventy percent of Tinder users who were matched began chatting through the application. But it’s hard to say how many of those people are meeting up.
What is the biggest challenge right now?
Rad: Keeping things running fast is a really big challenge. Tinder is growing at a rate we didn't really expect. We are making sure that we don't go down and that the user experience is fast. The more users that hit the server, the harder that becomes.
What is your exit strategy?
Rad: The product as it stands is only 5% of our vision. There is so much more, we’re not even emotionally ready to think about that.
We want to build a long-standing, giant company and a platform that people use to connect with new people around them. To successfully achieve that, it is going to take us a while, and we probably don’t see ourselves wanting to sell anytime soon. The exit, I would say, is to go public. It is not going to be a short-term sale to a company. For us, it would be in the form of an IPO.