This archive report was first published on 22 June 2021.
As the world slowly emerges from the pandemic, people are seeking more than just romantic connections. Dating apps, once focused on matchmaking, are now shifting their focus to friendship.
According to Whitney Wolfe Herd, founder and CEO of Bumble, there's a growing trend of people seeking platonic relationships. "People are seeking friendship in ways they would have only done offline before the pandemic," she said.
Bumble's BFF feature, which allows users to find friends, has seen significant growth, with 9% of the app's total monthly active users using it in September 2020. The company is investing in this feature, recognizing its potential for growth.
Match Group, owner of Tinder and Hinge, has also made a significant move into the friendship space. It acquired South Korean social media firm Hyperconnect for $1.7 billion, which offers apps that let people chat from across the world using real-time translation. Hyperconnect's revenue jumped 50% last year, and Meetup, which helps users meet people with similar interests, has seen a 22% rise in new members since January.
Meetup's most searched word this year was "friends," highlighting the growing demand for social connections. "This opens up the total available market from targeting only singles to singles and married people," said Evercore analyst Shweta Kharjuria.
As people begin to meet in person again, the importance of physical contact is being echoed by users. "You never really connect until you meet in person," said Amos, a 22-year-old French au pair using Bumble BFF in London.
With the pandemic accelerating the shift to online connections, it's unlikely that people will revert to the "old ways" of connecting with their community exclusively offline. "These trends are here to stay," said Hornet's founder and CEO Christof Wittig. "Just like video conferencing and telecommuting."
