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Final hours to shop. As one of the most widely visited sites in the world relating to online dating scene, Zoosk has become increasingly popular and offers a chance for single ladies and gents to pick out a partner that best suits their needs, habits and requirements.
Since its inception, the firm experienced high growth and was in a strong position by but needed capital in order to secure growth on the market and scale their operations which were lacking severely at that point. Eventually, such was their market that ruled the roost and became the top grossing application on the Apple iOS store.
As it turned out the company was spending too much on expansion and over hiring, which drained resources immensely and affected their profits significantly. A major chunk of this was down to the startup philosophy that profits do not matter; a theory which makes it extremely difficult to survive in the long-run as a firm will not succeed if does not make money. Zoosk lay off staff to cut costs and implemented a paid membership deal. The company uses big data and algorithmic recommendations technology in order to help its users find relevant partners that they can use.
The basic principle is that the more data that Zoosk gets it from its users, the better it can help find them a match. A photo verification service was added to the platform in August, that was designed to prevent unwanted manipulation and ensure that all users present on the site were relevant, confirmed individuals whose identity and current look could be properly checked as such. Zoosk now currently stands a market leader with potential for growth that can give the likes of Tinder a very good run for their money.
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