Dhe television appearance went differently than expected: the three founders of the dating app “chaanz” actually came to the show “Die Höhle der Löwen” to find sponsors. They pitched their idea to the top five investors and around two million viewers on Vox on Monday night.
Your dating app is meant to be used in places where many people travel and to bring singles together. With the “Real-Life-Match”, couples with similar interests should have a first date within minutes. Unlike established applications, meetings must take place before a long exchange of messages.
At the time of recording, in the spring of 2021, the app was still in development and had no users or sales. That’s why the trio came to the show and offered investors a 30% stake in the company for an investment of 125,000 euros.
But investors, known as the “lions”, were skeptical of the app’s unique selling proposition, as co-founder Marwin Grundel reported. In the later course, however, they managed to clarify this. In the middle of the show, Carsten Maschmeyer suddenly got up and joined the three young men. He was sold on the idea and tried to convince another lion to invest in the business together. Maschmeyer “got the application right,” says Grundel. After further negotiations, Maschmeyer and Georg Kofler finally agreed to invest 100,000 euros each in the dating app – for a total of 49% of the company’s shares.
“It went very well, even better than expected,” says the 25-year-old app founder of the show’s result. The offer was “appropriate”, castigated the founding team. After all, Maschmeyer is a tech savvy, Georg Kofler has the social media expertise to optimally advertise the app online, says Grundel.
But what viewers don’t see: After the show is officially agreed, there are further review processes. The strategy will be discussed in detail. But in this phase, the founders and their investors did not agree on the right strategy. The interest was there, reports Grundel, and it harmonized between the two parties, but in the end the investment never materialized. “But the experience helped us a lot,” says Grundel. They would still be supported by the two investors’ teams and would have further meetings every six to eight weeks where they would outline developments and gather feedback. Calls are also possible at any time, says Grundel. Although they would not have received any money, they would have received valuable advice from experienced mentors.
Now the young entrepreneurs want to raise the necessary money for their application via crowdfunding. Thus “every spectator can become a little lion”. The application should be available in July.