- What is Hinge, and how does Hinge work?
- How does Hinge make money?
- Preferred Membership
- Hinge’s profit and revenue
- What is the Hinge business and revenue model?
- Hinge’s funding and valuation
How does Hinge make money if it’s free? Here is a full, in-depth, breakdown of their two (2) revenue streams and the different products and services they offer, as well as the Bumble business model, their year-over-year revenue, and how Bumble works.
What is Hinge, and how does Hinge work?
Hinge is an online dating app that allows users to like or dislike other users on the app by swiping left or right on their pictures.
How Hinge works is: Once users download the app and create a profile, they can swipe left or right to match with other users on the app. When a match occurs, the two users can message each other on the app.
Founded in 2012 by Justin McLeod, Hinge now has over 6 million monthly active users and a $2 billion valuation.
How does Hinge make money?
To date, Hinge has 6 million monthly active users swiping on their app. Of those, 400,000 are paying users. So how does Hinge make money from those paying customers?
Below is a breakdown of how much money Hinge makes and its revenue model. Including their revenue streams and how much they make from their services.
Here are the 2 ways of how Hinge makes money (in 2021):
Hinge has a revenue model that makes money in two (2) ways – Preferred Membership and Boosts.
#1. Preferred Membership
Hinge makes money by offering a paid subscription service, called Preferred Member, to its users.
To date, Hinge has 6 million users swiping on their app. Of those, 400,000 are paying users.
Hinge operates on a freemium business model. Their dating app service is free but is designed to be very limited in features to get users to upgrade.
Upgrading to Hinge’s Preferred membership gives users the perks that the freemium model doesn’t offer – like sending unlimited likes, set extra preferences, see who likes you, and as Hinge says, go on 2x more dates”.
Hinge Preferred Membership Cost:
- 1 month: $29.99
- 3 months: $59.99
- 6 months: $89.99
Note: All subscriptions are recurring, so it auto-renews itself on the Apple App Store until the user cancels the subscription. If not, the user will continue to be charged.
Hinge also makes money by selling its premium features as one-time purchases, aside from packaging them together with their Preferred Membership subscription.
With Boosts, users can boost their profiles to be seen more for one (1) hour.
Hinge Boost Cost:
- 1 boost: $9.99
- 3 boosts: $26.97
- 5 boosts: $39.95
- Superboost: $19.99
Hinge’s profit and revenue
In 2020, Hinge tripled its revenue, says parent company Match Group, but has not disclosed the actual earnings of the company.
Note: Because Match Group Inc, the parent company to Hinge, is a publicly traded company, under the Securities Exchange Act of 1934, they must file continuous financial filings with the U.S. Securities and Exchange Commission (SEC). You can find all of Match Group’s publicly released financial reports, including annual reports, through Match Group’s investor section on their website.
What is the Hinge business and revenue model?
Hinge makes money through a few revenue models that they combine within their company, they are:
- Freemium (upselling) business model
- Software as a service (SaaS) business model
- Transaction-based business model
Hinge’s funding and valuation
According to Hinge’s Crunchbase profile, Hinge raised $20.6 million over 4 rounds with a valuation of $2 billion.