In 2020, the world as we know it underwent a significant change, and this upheaval also affected how we view social connection. Events, meetings, and in-person encounters were either severely restricted or outright forbidden, so we resorted to digital relationships to fill the void.
And it was because of this change that individuals started extensively relying on the use of social discovery platforms to interact with others, exchange stories, and produce content. When face-to-face encounters weren’t possible, videoconferencing platforms allowed us to stay in touch; dating applications allowed us to try out new relationships; and streaming sites offered a variety of gaming possibilities and livestreams that sparked in-person talks about our favorite topics.
The market for social discovery is still growing three years later. By 2028, it is anticipated that the social discovery market’s dating segment would have generated $10 billion. And because social discovery platforms have such room for expansion, venture funders are still interested in them.
But what factors do VCs take into account when making social discovery investments? Volkov Dmitry, a serial tech entrepreneur and founder of the global tech company Social Discovery Group, shared with us the key factors that investors pay attention to first of all.