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4Two

A dating platform for in person meetings

Ukraine, Kyiv city
Market: Information and media, Entertainment, Services, Artificial Intelligence
Stage of the project: Idea or something is already done

Date of last change: 14.10.2022
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Idea

The goal is for the customer to have much higher chances of meeting someone personally than in "traditional" dating apps by providing financial motivation, security, meeting place and personal guidance as well as penalizing (incl. financially) those, who behave inappropriately.

Current Status

We have developed the idea, studied competitive landscape and markets, got feedback of number of potential customers as for existing services.
Now, looking forward to (pre-)seed round investment.

Market

1. US (50+ mln customers)
2. UK (20+ mln potential customers)
3. China, India (500+ mln potential customers)

Durig pilot phase we will target just a few large cities in the US

Primary characteristics of our target audience - those people, who use dating apps. Globally - total addressable market is 1 Bln users.

Problem or Opportunity

Despite large number of "dating apps" on the market, people still have challenge to find and meet someone who shares their goals. This is one of the main reasons why more than 50% of active (=paying) dating apps users feel frustrated and afterwards call them "waste of time".
The reason is that most of such apps just sell contacts or opportunity to chat or share pictures, which is not enough motivation to have people meet each other.
Moreover, many apps are NOT INTERESTED that people meet in person, because if they do, they are likely to stop using it.

Solution (product or service)

The core of our platform will be built around in person meetings. We will achieve this by:
1. Providing financial motivation to meet:
- Customers pay for meetings and get refund if it is successful, meaning when both parties showed up in selected place).
- If just one person showed up, he/she gets money beck + part of the other person's money.
- If both did not show up, the money goes to platform.
2. Providing personal security solution (like alarm button, customer verification)
3. Providing a set of meeting places (partner organizations like cafes, restaurants, etc)
4. Providing legal support
5. Providing psychological advice support

Competitors

There are many competitors on the market like Tinder, match, Bumble, and so on. Customers typically register and use several services, not just one. And the biggest issue for these services is customer retention, not acquisition.

Advantages or differentiators

Our competitors sell contacts, while we sell relations. Our target audience is frustrated part of other services' users.

Finance

Revenue streams:
- Registration fee
- Meeting fee
- Premium subscription (monthly/yearly)
- Cashbacks from partners (like cafes)
- Alarm deposits
- Advertising

Main cost drivers: Marketing and financial commissions and salaries

For the details, please see the presentation.

Business model

We are going to use freemium business model, attracting customers mainly from online channels.
Within the 1-st year of operations we plan to attract 1 mln users. By the end of year 3, the platform should have 40+ Mln users with LTV growing from USD 18.6 per user on year 1 to USD 58.97 on year 3
LTV/CAC ratio should grow from 0.64 on year 1 to 2.13 on year 3

Money will be spent on

MVP, which should include:
- Technical platform development
- Legal model for each geo/region
- Building initial partnerships
- Marketing
- Pilot launch in one or several US Cities (depending on amount of money raised)

Offer for investor

15% share of company

Risks

- Failure to build proper legal model
- Failure to build large enough partnership network
- Replication of our approach by the competitors

Incubation/Acceleration programs accomplishment

none

Won the competition and other awards

none
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video