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We’re currently present in Mexico, Colombia, Peru and Chile, with localized content, websites, algorithms and customer support, all from our headquarters in Lima-Peru.
The market opportunity that we see is just too big to be ignored.
In the US or Europe, 100% of subscription sales are paid with recurrent billing on a credit card.
Category penetration in this region is very low, less than 15% but all market trends indicate that this will dramatically change within the next 3-5 years, just as it has happened before in North America, Europe and Asia.
LAVCA: What barriers or obstacles did you overcome in the early stages of your company’s growth?
In the US, there are over 80 million single adults that last year generated over US.2 billion in revenues for the online dating industry.
China’s Online Dating market last year was 1.6BN but in Latin America, despite having a +600 million population, single adults are not yet using the Internet to find potential partners.
Our individual experience raising over 10 rounds in three previous startups surely helped a lot.
We have a freemium model where we monetize through paid subscriptions that go from US$ 5 to US$ 20 per month.
Dating Latam’s first product “Mi Media Manzana”, is the first matchmaking platform (Web + Mobile APP) based on a localized proprietary algorithm for Latin America.
Neira: Dating Latam aims to bring Online Dating to the still nascent Spanish speaking Latin American Market.
Our big bet is that any middle class single over 30 years old in any Latin American country, has enough purchasing power to buy a US$ 8 subscription (which is roughly what a movie ticket costs).
What challenges, either terms of policy or the development of the market in Peru, does Dating Lat Am face currently?Neira: Raising capital from a country that has limited capital market (no VC’s, no Business Angels, no crowdsourcing, almost no previous startup exits, no government support, etc.) is a very tough challenge, but we managed to raise over US$ 1M on our seed round.