And it is expected to increase at an annual growth rate of 6% resulting in the market volume of US $2471M by 2023. According to a report by Statista, the revenue generated by the online dating segment amounts to the US $1958M in 2019. Now, being a dating or matchmaking startup, you might think of the business that these mobile dating apps are making millions online. With the help of smartphones and location-sensing apps, the world is turned into a playground of dates, hookups, long-term relationships. Online dating apps like Tinder have changed perceptions of dating and also helped in breaking traditional laws for the LGBTQ community.
