Online Dating Is Worth $3 Billion a Year

lady and the tramp 300x225 Online Dating Is Worth $3 Billion a Year

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OK, Cupid: why are there so many online dating startups in New York? You have your OKCupid for quiz-happy Brooklynites, HowAboutWe for active Manhattanites, for the olds, JDate for the chosen people, Grindr for sex, Grouper for the ostensibly platonic, and Ignighter for Indians. That’s just a sample off the top of our heads.

But there is a reason online dating is such a popular business model and why startups continue to go for it even though the space is saturated. The BBC reports today that the market for people looking for love online is worth over $3 billion a year–and it is recession-proof to boot. Hey, you can’t give up looking for Mr. Right just because times are tight. And just like New Yorkers are busy enough to pay someone else to do their laundry, we’re also willing to pay good money not to waste time buying drinks in a bar. Who says love can’t be efficient?