Tatally dating site in france
And a few weeks ago, today’s guest sold his company. It basically uses all the mechanics of dating, the stuff you might expect from an app like Tinder, to match you up with people that you might want to network with and meet for coffee and do work with. I get to do all this because of two great sponsors. The idea behind a leveraged buyout is you have a little bit of money. And then you go and you buy a company, you turn it around and then you sell it and boom, right? At the very beginning, I wanted to work in the sport industry, but I understood that it’s a very tricky business. So my mother was very proud of me, and I was getting money. But afterwards I didn’t have the courage to make the leap and quit my job, you know? : It was a mix between Airbnb and Century 21, because when I was younger, I loved to travel around Europe. : It’s an agency, like a broker–yes, exactly, with apartments. Nine years ago in France, people were more patient about new services. Then I give it to him but he doesn’t shoot anything.
I’m the founder of Mixergy, where I’ve interviewed entrepreneurs about how they’ve built their businesses. Demographics mismatch with investors–there are so many reasons why dating sites are tough to build and to grow and to make successful. But you can see I have to wait 13 more hours before I get to go back into it. : As a kid, this is how geeky I was–as a kid, I wanted to do leveraged buyouts. I was on the board of a company with 100 employees. I had a new idea and I was making my business plan. I didn’t think about it as an internet company, but more like you know Century 21? : Because I didn’t know anybody in the tech industry, anybody. I’ll use it on my site and hire designers to make it look nice.” But you didn’t even know to do that? : So two out of three people were bumped, which actually caused you issues with your marketing because you were spending a lot of money to acquire all three people when two of them were being rejected and only one was accepted. Now, you download an app and if you don’t like it, you delete it and it’s over. So I show him how to do it and I hit the button and I shoot one of these aliens and I get ten points.
Getting that kind of data takes forever in entrepreneurial online world because there are so many different revenue sources, so many different expenses and we have to either do them ourselves, which a lot of entrepreneurs do or many people will then go hire a virtual assistant and say, “Enter this into my accounting software,” which then means that, “I’m not equipped for it.” So they make mistakes.
Or people will then go and hire an individual bookkeeper and say, “I want you to do my books the way you do other people’s books,” which is a problem because you’re trusting one person who may be sick one week or who may take their eye off the ball or make a mistake, etc. We had 35% of people who would get accepted by the community who paid.
Otherwise, just do it and we will support you.” When they say that, it was the idea about Attractive World, the dating website I created in 2007. So they finally said to you, “Look, you’re never going to do this, so either do it or shut up about it.” You finally said, “All right, this is the idea. In 2007, there was only one dating website in France called Meetic. In business, points are the revenue and the expenses and the dollars that you end up with at the end of the day.
I’m going to go with it.” What attracted you to the idea of a dating site? Now, we as entrepreneurs always need to keep an eye on our points.
So the answer to not have those mistakes and not have those headaches but still get the points that drive us as entrepreneurs is to use Bench. How do you know that the matches are working out the way you imagined? The concept of Attractive World is that you need to get accepted by the community to use the website. There were a lot of events organized by the community. So the conversion rate was very high and the lifetime value was very high as well. After we make people pay, we make people pay and we saw that the conversion rate was very good.
” So, he would then go work for these smaller companies and advise them on their direction of their company and advise them on how to organize their financials and advise them on how to raise more money and so on. Maybe there’s a way to figure out what the right price is. You were doing your financials to show your investors.
: They’re a newish company, raised a lot of money, making a lot of impact in the startup world because what they do is they use software and people to get people’s accounting done right. Ten seconds is a pain, but you’re just getting going and things are doing okay. So you start the conversation the first day with a lot of different people who voted for you. Pricing–you mentioned after this application, not only do they have to apply, you said it took three minutes to apply, they had to wait three days before people accepted them. We knew that the business model could work because we were seeing the conversion rates and they were very good and the churn was very low and we had a very good lifetime value. That’s why I went– : That’s essentially what Andrew Chen was saying in that post, that it’s too expensive to buy ads online and get enough people to come in.