"Tinder is doing very well when it comes to dating but we never embarked on this thinking it would be a dating app," Rad said. "It was more to solve core issues when it comes to meeting somebody new, and you can see how we can take the Tinder model and apply it everywhere."
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Part of that effort involves a push to begin generating revenue. The company launched its subscription service "Tinder Plus" back in March. The premium plus service offers tiered pricing, in which it charges older users more. "Tinder Plus" also comes with a rewind button for those who accidentally swiped left.
The founders said there isn't a specific number of Tinder users they expect to switch over to the monetized version, but said they are "very satisfied" with the current results.
Tinder received one of the top awards largely due to the exponential growth the app has experienced since its infancy. The app now has more than 50 million active users, and it's growth has led to frothy estimates about how much it's actually worth. Some analysts have valued the company at a minimum of $750 million—and as high as $5 billion.
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IAC has a controlling stake in Tinder. While IAC's chief Barry Diller has been damping down on the "crazy speculation" surrounding Tinder's prospects, Rad said based on growth the Tinder has experienced, the valuation of the service is "just right."