Dating has become big business since Tinder’s launch in 2013 that made dating easy with the simplicity of a swipe. Bumble recently announced plans to go public at what is expected to be an $8B+ valuation. New entrants are lining up to offer new solutions to people for a chance at love. S’More, a dating app launched by a former Bumble executive, is focused on building real connections between potential matches by taking out the superficiality found in the traditional apps. The majority of the dating apps are designed to focus on pictures on the profile and initial user interactions are driven mostly by physical attraction. On the other hand, S’More fosters conversation and actually getting to know your potential suitor by obscuring photos initially. As the conversation progresses, the photos become unblurred. The startup now has over 165K users since its public launch in March of 2020.
AlleyWatch caught up with CEO and Founder Adam Cohen-Aslatei to learn more about the company’s progress since launching, future plans, and latest funding round, which brings the total funding for the company to $3.2M.
Who were your investors and how much did you raise?
S’More raised $2.1M from investors that include Benson Oak Ventures, WorkPlay Ventures, Gaingels VC, LOUD Capital/Pride Fund, Boston Harbor Angels, SideCar Angels, and a number of individual angel investors.
Tell us about the product or service that S’More offers.
S’more is the world’s first anti-superficial relationship app. Get to know a person before judging them based on little more than a selfie. The more you chat, the clearer they become.
What inspired the start of S’More?
When I left Magic Labs/Bumble Group as the Managing Director of Chappy (Bumble’s gay dating app), I found myself on a beach trying to figure out what was next for me. Never in a million years did I expect to start my own company. I spontaneously struck up a conversation with the woman next to me, a gorgeous millennial black woman. She told me that traditional dating apps ruined her life. She was single, had been on almost every dating app, and found that they were designed to fail. When she explained her horrible experience, it was clear there was a massive opportunity to help her out, and likely millions of other singles. She felt judged on these apps, and she knew she was also passing judgment based on little more than a selfie. If we are all making these instant decisions based on very little information… she said, how is anyone supposed to find a true partner?
She said that dating apps force you to put a version of yourself out there that you know is inauthentic. Women know exactly how to best airbrush a photo, or what to write in a first message and in a bio to make sure a man reaches out. But if you lead with a lie, how could you expect a positive outcome? Both men and women knew the dating app game and how to trick the system, and there was an overemphasis on looks.
That’s when I got the idea for S’More (a.k.a. Something More) Date. We make dating a little less superficial so you actually have a shot at love.
How is S’More different?
S’More recommends profiles based on your personal characteristics and behavior on the app. You interact with multi-media profiles, hear a person’s voice, listen to their favorite music, etc., and the more you chat with a person, the more their photos un-blur and other visual content about them unlocks. It feels a little similar to the TV show Love is Blind. As you get to know a person, they actually become clearer to you, and that way, you can better determine if there is a match. In a nutshell, we get you into conversations faster and reduce the incidence of instant judgment based on a headshot. Our profiles are also unstructured and feel more like MySpace pages than dating app profiles.
What market does S’More target and how big is it?
The dating and social discovery market is over $10B, and S’More is for all types of relationships not just for romantic relationships but for common interests and for friends. The global market is also growing at ~20% YoY, and keep in mind 50% of American singles don’t use dating apps, in fact, they hate them!
What’s your business model?
- Subscription
- IAP
- Brand ad revenue / sponsored content
- Affiliate revenue
How has COVID-19 impacted the business?
100% of relationships now start online so our entire industry has seen massive growth and people are more focused on deeper connections than ever before over casual encounters. Meeting IRL is now much less common. More time and money is spent on discovery type apps than ever before.
What was the funding process like?
Tough, but great! We have an amazing group of investors and we way surpassed our initial goal of $1.5M in this round.
What are the biggest challenges that you faced while raising capital?
Making sure that we put together the right group of investors who shared our vision for a better and more meaningful way to connect like-minded folks. Our investors are very bullish and are more partners than investors.
What factors about your business led your investors to write the check?
- Team with a proven track record of success
- Traction with data on-par with industry leaders
- An industry with massive growth and little disruption
What are the milestones you plan to achieve in the next six months?
- Get thousands of people into new relationships
- 4x our monthly active userbase
- 10x revenue
- Improve our top 200 status in the app store
- Be voted the #1 relationship app in America!
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Never stop! In many cases starting a company, hiring, and raising capital are some of the hardest things you will ever do in life, and it’s hard as hell every single day, and let me tell you it doesn’t get easier once you’ve raised the money. But if you don’t 100% believe in yourself and your ability/ team’s abilities, you can’t expect others to cut checks. Never stop.
Never stop! In many cases starting a company, hiring, and raising capital are some of the hardest things you will ever do in life, and it’s hard as hell every single day, and let me tell you it doesn’t get easier once you’ve raised the money. But if you don’t 100% believe in yourself and your ability/ team’s abilities, you can’t expect others to cut checks. Never stop.
Where do you see the company going now over the near term?
We are looking to grow the industry by inviting the 50% of American singles who don’t use dating apps to be part of a community that doesn’t feel salacious or transactional, where individuals can organically stumble upon someone with a common interest and see where it goes. We want every type of relationship seeker to suspend judgment and give it a whirl…. They have nothing to lose.
What’s your favorite outdoor dining restaurant in NYC
I’m an UES boy so Bella Blue, Sette Mezzo, Sushi Seki, and you can never go wrong with Serafina.
