Feeld dating app reports 32% revenue increase, founders receive record £3.8m dividend

Feeld Reports Significant Financial Growth

Feeld, a UK-based dating application catering to non-monogamous, queer, and kinky users, announced a 32% increase in revenues, reaching £64 million. The company's pre-tax profits also grew from £9.3 million to £11.4 million. This financial performance led to a record £3.8 million dividend distribution to shareholders, including the app's founders.

Market Performance Amidst Industry Trends

The growth of Feeld contrasts with the performance of larger dating app competitors. Match Group, which owns Tinder, Hinge, and OK Cupid, reported a 5% decline in user numbers earlier in the year. Feeld attributes its success to attracting users seeking alternative relationship explorations, with its president, Kyle Brennan, noting a broader shift in how people approach connection.

Global User Expansion

Feeld's rising sales are primarily due to strong global user growth, with approximately 90% of its £64 million revenue, or £56 million, originating from outside the UK. Mexico and Spain were identified as the fastest-growing regions. Cities such as New York, Toronto, and Paris each experienced over 20% growth in user numbers.

Revenue Generation Model

Feeld generates revenue through its 'Majestic memberships,' which offer features like unlimited 'likes,' the ability to see who has liked a user, and advanced search filters. The app also sells extra 'pings,' allowing members to express interest and send messages without a prior match.