Running the figures

After an extraordinary introduction and overview of the way the item works, the sharks dig to the monetary information on the dating application.

  • Month-to-month users: Between 100,000 and 500,000 users
  • Yearly product sales: $87,000 a year ago; $270,000 in very very first five months of present 12 months
  • Projected annual product sales: $1 million for present 12 months; ten dollars million for the following year
  • Client purchase price (CAC): $0.30 cents
  • Profit percentage: negative

The siblings will not expose a number that is exact seventhday adventist singles of users, that they claim is actually for competitive reasons, however they are maddeningly obscure with this point. They claim it clearly doesn’t that it gives a good idea of user base, but. After duplicated grilling through the sharks, Mark Cuban falls down on concept. “I’m away. You need to offer us that, have you been kidding? I’m away,” he claims. The sisters seem unruffled, and carry on fielding concerns.

Since it works out, their income are negative – meaning they aren’t making any revenue presently. That they had to pay a huge sum of money upfront, mostly on salaries to pay for their web designers. Which includes paying by themselves a $100,000 salary each. The sharks appear incredulous as of this quantity.

“That is still a substantial pay cut from that which we had been making prior,” says Dawoon, to which Robert reacts with rollicking, mocking laughter.

The siblings have actually raised $2.8 million in outside money up to now, with one investor that is notable among the co-founders of Match.com, whom enjoyed their concept. Continue reading