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In the two years since its launch, the online start-up has brought thousands of couples together, generated million in investments and begun swallowing up its competitors.
The company started with the e Harmony model and is now moving to dominate the Russian online dating niche.
The main thing is that they mustn’t cut across our vision for as a service to help people find their other half,” says Burin.
Burin notes that, in the last eight months of 2012, there was a tenfold increase in the income from the site and the number of visitors — it started to make a profit.
At the end of January there were reports that would continue to buy up its competitors, and that the next in line could be
Last summer, however, experts at the Russian Public Opinion Research Center found that Russians are not all that interested in dating sites for the purpose of getting married.
For services like Teamo, there is a further complication in that the questionnaires are much more detailed and contain lots of questions, which serve as the basis for the people-matching algorithm,” says Maxim Medvedev, founder and managing director of Add Venture.
“In principle, we’re not ruling out new ways of generating income.
“But it soon became clear that the e Harmony business model in its pure form would not work in the Russian dating market.” Thus, made some radical changes to the site’s design and content.
For example, unlike its American counterpart, the Russian site now has a section where a psychologist answers questions, as well as its own discussion forum and blog, with dozens of articles about relationships.
The Russian and American sites work on the same principle: when users register, they answer the questions on a test, and this is then used to compile a psychological profile of the user.
The only difference is the number of criteria used.
The only thing known is that the start-up received money from the Fast Lane Ventures fund, whose standard seed investment is between $500,000 and $1 million. Ventures and UMJ Russia, and the total amount invested is upwards of $2 million, company sources say.