On Track to Become the First Danish Team to Crowdfund Successfully.
LoveTagged, the innovative dating matchmaker on Facebook, has reached 60% of its goal with ten days remaining on its FundedByMe equity crowdfunding campaign. “If the case succeeds it will be the first Danish team ever to have equity crowdfunded successfully!” exclaimed Christian Gabriel of FundedByMe. “Even though the company will be established in Sweden (due to the new Danish regulations), this will be great news.”
LoveTagged, a new Scandinavian-based company, lets individuals play matchmaker for their single friends by setting them up via Facebook. LoveTagged’s FundedByMe equity crowdfunding campaign aims to build a larger dedicated user-base while raising funds. In short, LoveTagged is a Facebook-based matchmaking application that allows users to be virtual matchmakers. LoveTagged aims to remove the awkwardness of being matched with strangers and the guesswork of online dating websites. LoveTagged lets users ‘LoveTag’ single friends and recommend them to other people in their immediate network.
Founded and developed by Christian Majgaard, LoveTagged began with an idea at Majgaard’s brother’s wedding: the best man was actually the matchmaker who set the groom up for a blind date with his new wife. “The two most common ways of meeting people these days are through blind dates, and online dating websites, both of which can be awkward,” explains Majgaard. “By being set up with mutual friends of friends, you get a higher chance of success and you will be able to do a little pre-research and approval before the first mutual contact.”
LoveTagged seeks a more human approach to matchmaking than the algorithmic method used by some dating websites, the idea being that one’s friends will know someone else – most likely better than one is able to describe oneself in an online dating profile.
“One of the great challenges by starting an online service is accumulating users and creating activity. By having our users own shares in the company we will get the best ambassadors to help us spread the word. We would not achieve this through traditional funding,” says Christian Majgaard.
The platform has been developed and is ready to launch, with high hopes for quick adaptation by online daters and their friends. “After a soft launch in Denmark, we will use our findings to optimize a ramp-up campaign with increased marketing and sponsored prizes and a subsequent launch in the UK,” according to the campaign. “Following this, we will start further dissemination by gradually starting campaigns in EU-countries.”
On FundedByMe, LoveTagged shares details its rollout plan:
“Motivating ‘MatchMakers’ is crucial to the successful roll-out of LoveTagged. We believe that many people have that special gene that makes them MatchMakers by heart, but a lot more have both the inclination and means (lots of friends on Facebook) but they will perhaps need a little motivating.
- ‘The young’ who are aged 16+ and still have not settled/married with a steady partner. This segment is not into online dating. They consider it NOT COOL, but a lot of them are still insecure/shy and may have a hard time ‘breaking the ice’ in front of a possible match.
- ‘The experienced’ who are aged 30+ and probably divorced, looking for the truly right one this time. They are heavy users of online dating, but they are also somewhat tired of the search process: ‘It’s like finding the needle in the haystack.’
We will create awareness and motivation through a 3-sided marketing strategy:
- ‘Network’ marketing: Kicking off with a major push, using timeline posts, shares/likes, invites/tags and direct mails by founders, shareholders and their network we will reach a substantial share of the target group in Denmark.
- Targeting ambassadors and connectors via PR and direct marketing. We will get the attention of bloggers and dating industry influencers, the tabloid press and TV and radio.
- Traditional online advertising using competitions: FB advertising, Google AdWords and affiliate marketing. Adding sponsors from the leisure and travel industries will secure an ongoing motivational campaign at reduced cost.
Additional financial and campaign information is available for registered investors on FundedByMe.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!