Friday April 20, 2018

Former Equity Analyst Creates Successful Dating App

Image representing SNAP Interactive as depicte...

Image via CrunchBase

In 2005, Clifford Lerner, along with his brother, Darrell, founded NY-based Snap Interactive, whose main product, a dating site called IAmFreeTonight.com, helped people with busy schedules make last-minute plans to travel out-of-town. The company was probably inspired by the lifestyle Lerner led as an international equity analyst at Lehman Brothers from 2000 to 2005, where he had trouble maintaining much of a social life due to his work hours.

Since its inception, the site has now become AreYouInterested.com, a Facebook app bringing singles together from all around the world. According to Crain’s New York Business, 139,834 residents in the NY area have used the app online, and 37,753 have actually installed the app on their mobile device. Globally, approximately 55 million people have the app, with 35,000 unique users daily. The company made over $19 million in revenue in 2011 and managed to increase sales for the past 11 consecutive quarters.

Only a year ago, the firm had 15 employees; and now it is approaching 40 workers, including the recently hired CFO Jon Pederson, who previously worked at Warner Music Group.

Crain’s New York Business