It wants to change the misconception on using dating apps.
DateTix is a dating app that is focused on helping people meet in real life instead of spending most of their time virtual dating. DateTix was first founded in Hong Kong, and has recently entered the Singapore market to change the dating habits of Singaporeans.
Unlike most dating apps, DateTix’s aim is for its users to migrate from just using and chatting on the app to meeting their matches face-to-face. On the app, users can host and/or apply for dates at various dating hot spots, including restaurants, bars and live events such as concerts.
This makes it easier for users to arrange for face-to-face dating because they have a plethora of options to choose from, and can even find someone with the same interests based on the location and date activity they choose to meet at. This makes DateTix more than just a dating app – it’s a social networking platform where singles can make meaningful connections based on not only their demographics, but also their interests.
DateTix was founded in 2013 by Michael Ye, 36, in Hong Kong, and has recently expanded into the Singapore market. Michael is the current CEO of the company and drives the company’s strategic vision and global growth, as well as leads the design and development of the core online dating marketplace. With an MBA in Entrepreneurship and Finance from the Wharton School, University of Pennsylvania, and his extensive experience in investment banking, Michael wants to create the world’s leading online marketplace for dates, and facilitate healthy face-to-face interactions amongst Singaporeans.
DateTix was started because Ye realised that while there are many dating apps in the market, people were not actively meeting one another, nor were most of them getting into serious relationships through these platforms. While dating apps have helped singles reach out to other singles beyond their own social circles, many only meet and form meaningful connections with only a handful of other singles. The ease of access to a plethora of options has made singles very passive when it comes to arranging face-to-face dates. The idea that dating apps are sleazy has also made people cynical about the possibility of meeting someone special through these apps, and in turn, about current state of dating.
Michael observed this in Hong Kong and also in Singapore, so he decided to launch an app that is more focused on encouraging singles to meet rather than to just remain chatting online. The DateTix app does this by introducing a limit to chat time. Users can only remain chatting on the app until their actual date, so that they can spend time getting to know each other in person instead.
DateTix was started in 2013 with seed funding from Michael and his family and friends. In October 2015, DateTix successfully raised A$3 million in an oversubscribed equity offering, is supported by high quality professional institutional investors in Hong Kong and Australia, and is now a publicly listed company that trades on the Australian Securities Exchange (ASX) under the ticker DTX.
In order to build an initial seed user base in Hong Kong, Michael organized monthly networking events that required attendees to create a profile on DateTix.com in order to get discounted event tickets. He went to the pain of inviting virtually every single one of his friends, friends of friends, acquaintances, and strangers one by one to sell tickets. The result was thousands of high quality seed users in just a few months.
DateTix has well over A$2 million in cash to fund future growth and expansion.
We plan to grow our business through a combination of geographic expansion and product innovation. Our plan is to be in all tier-one cities in China by 2017, before expanding to major cities outside of Asia. We are also constantly innovating our product and introducing new products and services to enhance our user experience and grow revenues.
Our vision is to build the world’s largest online marketplace for dates. We want to make it easy for people to meet like-minded new people around them, wherever they are and whenever they want.
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