In November, matchmaking app Tinder is going to charge users for a premium service. Premium accounts will be the startup’s first attempt at monetization.
According to Forbes, which interviewed Tinder CEO Sean Rad at its 30 Under 30 Summit, paid features could include extended location settings. Currently, Tinder only shows users profiles of people who are within a few miles of them. Premium accounts could lift this restriction.
“We are adding features users have been begging us for,” Rad told Forbes. “They will offer so much value we think users are willing to pay for them.”
He declined to offer specifics but said the free app will continue to operate the way it always has. It’s not clear how much Tinder is going to charge for freemium accounts.
Tinder users are currently swiping through 1.2 billion profiles per day. More than 15 million matches are made per day on Tinder.
“Revenue has always been on the road map,” Rad said at the conference. “We had to get our product and growth right first.”
Indeed, Tinder had a revenue model baked into its first investor pitch deck. Then, Tinder imagined charging users to see more than two profiles, as well as for stickers and promoted profiles.