The UK-based company’s revenue nearly doubled last year, as users who are non-monogamous and queer helped it expand to other countries.
Feeld was founded by a couple of entrepreneurs in an open relationship. The company has stated that it is “on mission to elevate human experience in sexuality and relationships”. Its registered office in Carlisle in Cumbria.
Feeld’s popularity has grown in recent years amid growing interest in non-traditional relationships such as polyamory. Last year, it was the first time that the company filed full accounts with Companies House.
The company’s profit increased from £2.4m up to £5.5m by the end of the 2023 year, on revenues that grew from £20.7m up to £39.5m.
Most of the income comes from overseas, with £33m in turnover. Feeld can be downloaded for free anywhere in the world, including the US and Australia. Users will have to pay to access the full range of services.
Dimo Trifonov, a Bulgarian born in London, founded the company in 2014, after he and Ana Kirova discussed their relationship.
Kirova has been involved with the app, which was originally named 3nder before a lawsuit by a much larger rival Tinder, since its very early days.
She became chief executive in December of last year and oversaw a rebranding project, along with a technology upgrade, that initially had some glitches. The company has now confirmed the issue is resolved. App has expanded to include social events.
Companies House filings show that Feeld’s ownership changed after Kirova became chief executive in December of 2023.
Trifonov held the majority of shares prior to January 2024. Although he continues to hold the largest stake, Kirova received nearly half of Trifonov’s shares in early 2024. According to the filings, this reduced Trifonov’s stake below 50%. Kirova now holds nearly 24%.
Before the transfer, the accounts show that the shareholders received a dividend payment of £400,000 for 2023 and £$292,923 in the previous year. Trifonov held slightly more than 50% of the shares at that time.
Kirova stated: “I don’t believe in growth at any cost, and as a company we don’t pursue this.” We listen to members on different platforms and try to support their individual journeys by growing Feeld.
Feeld’s model is defying tradition, and the people are responding to it.
The company’s rapid growth is a response to Trifonov’s warning in 2016, that he might be forced to lay off staff due the lawsuit filed by Tinder, which is owned by Match Group.
Trifonov claimed that Tinder was “loading nuclear weapons” against his startup. He also pointed out the fact that Tinder had been preceded by Grindr, the gay dating application whose name is only a few letters different.
Trifonov had to change the name of his app. Since 2016, the company’s workforce has grown from eight to almost 50 people.
Post Disclaimer
The following content has been published by Stockmark.IT. All information utilised in the creation of this communication has been gathered from publicly available sources that we consider reliable. Nevertheless, we cannot guarantee the accuracy or completeness of this communication.
This communication is intended solely for informational purposes and should not be construed as an offer, recommendation, solicitation, inducement, or invitation by or on behalf of the Company or any affiliates to engage in any investment activities. The opinions and views expressed by the authors are their own and do not necessarily reflect those of the Company, its affiliates, or any other third party.
The services and products mentioned in this communication may not be suitable for all recipients, by continuing to read this website and its content you agree to the terms of this disclaimer.