Rad went on to start Tinder; the other two date tried several ventures before they created Tappy. Our team couldnt be happier to join Tinder, Norgard said. Its get women rare to find a company that has exploded onto the scene so quickly, but it hasnt scratched the surface of its potential. Tinders app lets users check out photos of potential dates on a smartphone, swiping left to reject, swiping right to initiate a hookup. Tappy users can choose groups and send photos that disappear after 24 hours. Its difficult to assess Tinders potential. As a private company, Tinder doesnt release financial information. (Media mogul Barry Dillers IAC, which operates online dating services such as Match.com and OkCupid, holds a majority stake in Tinder.) Market researcher IBISWorld pegs the entire online dating market at $2 billion, growing at 4.7% a year. The deal is good news for the L.A. tech scene, said Howard Marks, the co-founder of Activision and chair of start-up accelerator StartEngine.
Full story: http://www.latimes.com/business/technology/la-fi-tn-tinder-buys-tappy-20150112-story.html?track=rss