Are you tired of the typical dating apps that match you based on your likes and interests? What if there was a dating app that connected people through their mutual dislikes? Meet Brendan Alper, the creator of Hater, a revolutionary dating app that matches individuals based on what they hate. In this episode of Shark Tank (episode 909), Brendan pitches his innovative app, hoping to find love and secure an investment.
Key Takeaways
Discovering Love Through Collective Disdain
Originally, Hater began as a mere joke, but Brendan soon realized that it had a foundation in real psychology. Drawing inspiration from a 2006 study in the Personality and Social Psychology Bulletin, which suggested that people bond effortlessly when they have something to mutually criticize, Brendan crafted a Tinder-like app that asks users to swipe up or down for “love” or “hate,” and right or left for “like” or “dislike.”
Hater covers a wide range of topics, including politics, celebrities, food, sports, and more. It’s important to note that the app does not condone or promote hate speech in any way. With over 3000 topics curated by the Hater team, including popular trends, users can easily express their preferences. Once you’ve swiped on your “hates,” “loves,” and more, the app matches you with individuals who share similar interests, using an algorithm to calculate compatibility. From there, Hater functions like any other dating app, allowing users to view their matches and choose who they’d like to meet.
A Swift Rise to Popularity
Debuting just before Valentine’s Day in 2017, Hater quickly garnered over 200,000 users. However, whether the app will stand the test of time remains to be seen. Brendan envisions the potential for growth and knows that the backing of a Shark in the Shark Tank could provide the capital and recognition needed to take Hater to new heights.
The Hater Experience in the Shark Tank
Entering the Shark Tank, Brendan seeks $200,000 for a 5% stake in his business. He confidently explains the app’s unique concept and demonstrates its functionality to the Sharks. Displaying various topics on a screen, he asks the Sharks whether they love, are neutral about, or hate each one. After the experiment, the app suggests that Rohan and Barbara would be a good match.
While boasting an impressive user base of 500,000 active users, Hater has not yet monetized the app. To kickstart the revenue generation, Brendan invested his own funds by emptying his 401K and obtaining $500,000 in venture funding. However, the daily active user count currently hovers between 8,000 and 10,000, which Mark Cuban acknowledges as relatively low.
The Sharks’ Offers: A Battle of Investments
Rohan Oza decides to pass on investing due to the app’s low usage numbers. Barbara Corcoran, on the other hand, makes an immediate offer of $250,000 for a 5% stake. Meanwhile, Lori Greiner interjects with her proposal of $200,000 for a 10% stake, emphasizing her commitment to building a strong brand around the app. Unable to make a quick decision, Brendan’s hesitation prompts Barbara to withdraw her offer.
Mark Cuban, sensing an opportunity, steps in and offers $200,000 for a 7.5% stake, with an additional 2.5% advisory shares. Promising to leverage his connections with celebrity endorsers, Mark believes he can propel Hater’s success. Eager to hear from every Shark, Brendan calls on Robert Herjavec, who proposes $250,000 for a 15% stake. Barbara, not wanting to miss out, joins Robert’s offer by contributing an additional $250,000, resulting in a joint offer of $500,000 for a 15% stake.
After careful consideration, Brendan decides to accept Mark’s offer, recognizing the value of his expertise and network in the industry.
The Hater Legacy and Beyond
While the deal with Mark eventually closed, Hater unfortunately ceased operations in June 2019, a year and a half after its Shark Tank appearance. However, Brendan Alper hasn’t stopped his entrepreneurial journey. He now resides in Stockholm, Sweden, and has launched a new app called Everbloom. This app allows users to transform their videos into captivating stories, showcasing Brendan’s ability to adapt and innovate in the tech industry.
Though Hater may have faded away, its legacy lives on. The concept of connecting people through shared dislikes was a groundbreaking idea that challenged traditional dating app norms. Who knows? Perhaps another creative mind will take up the mantle and revive the concept, catering to those who seek a connection through what they despise.
For more information on Hater and its founder, visit the Six Minute Dates website.
