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Feeld App: Nearly 90% Revenue From Outside UK
2 Oct
Summary
- Feeld dating app revenue grew 24% to £64m recently.
- Nearly 90% of Feeld's revenue, £56m, comes from outside the UK.
- Security vulnerabilities were addressed in the past year by Feeld.
Feeld, a dating app designed for non-monogamous, queer, and kinky individuals, has announced a substantial 24% surge in revenue, reaching £64 million. The company's pre-tax profits also saw an increase, climbing to £11.4 million, enabling shareholders to receive a significant dividend of £3.8 million.
This remarkable growth is largely driven by international users, with approximately 90% of Feeld's revenue, totaling £56 million, originating from outside the UK. Mexico and Spain are identified as the fastest-growing markets, while New York, Toronto, and Paris have shown user growth exceeding 20%.
Feeld generates income through its 'Majestic' memberships, offering enhanced features like unlimited 'likes' and advanced search filters. The app also sells 'pings' for direct messaging without a mutual match. In the past year, the company invested £10.5 million in technological upgrades after addressing security vulnerabilities that had temporarily exposed user data. Feeld also hosts in-person social events, further engaging its community.
