Fungloo

Category: Contestants

 

Name: Sebastian Jimenez

NYU affiliation: Arts and Sciences

NYU status: Undergraduate

Did you enter last year?: No

Do you have any teammates?: Yes

How many, including yourself?: 2

 

Concept Name

Fungloo

 

High Concept Statement

A Tinder for dating. Like actually for dating. People get matched based on similarities (education, interests, etc), and girls get paid to go on a first date.

 

Status Quo

Current dating apps suck for both guys and girls. Girls rarely have an incentive to go on dates with guys that they don’t know (they could be creepy, etc). Guys rarely, very rarely get to go on dates with girls. Not to mention that trying to get to know someone you don’t know over online texting is super awkward and weird. The online dating world needs a better solution.

 

Competition

Our primary competitors are Tinder, Bumble, and the countless other dating apps that haven’t yet cracked the code to get people to date and find value in dating. There are stats showing that 70 percent of respondents using Tinder had not gone on a date with someone. And that’s for the ones that even get matches. Most guys rarely get a match. That’s because: the standards for matching are superficial (based on nothing but looks),  and because girls just simply don’t have any incentive to go out with a guy they don’t know they can feel safe around.

 

Solution

Fungloo matches people based on similarities (level of education, level of employment, interests, etc) so that the chances of getting value from the date are maximized. Guys have to pay to go out with a girl on a first date if they get matched. If girls accept the date, they receive the payment, a chat box opens, they set the time and place, and then go out with the guys. If the girl doesn’t like the guy after going out with him, she tells the app and they get unmatched and she never hears from the guy again. Unlike in other dating apps, if a girl goes on a bad date in Fungloo, at least she gets paid for her time and it wasn’t a complete waste.  If she does like the guy, a chat box is opened where they can continue to chat, but the catch is that she cannot charge him for future dates if she wants to keep going out with him. The other value we add is that at the end of the date, the girl gets to rate the guy in order so that we can filter out guys with very low ratings from our platform to ensure that girls don’t go out with creeps (exactly like Uber does with their drivers).

 

Revenue Model

We would follow Uber’s model and take a percentage of the payments that guys make for the first date. Aside from that, we would have a premium service similar to Tinder Gold that would allow guys and girls to be seen by more people.

 

Which platform would you like to launch your app on?

iPhone

 

Which category best describes your app?

Social Networking