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Croxon and the other founders of Lavalife sold the company in 2004 for 6 million."In hindsight it was the right time because the market was already getting very busy," Croxon said.
Croxon was on CBC's Dragons' Den from 2011 to 2014, and currently invests in digital startups through another company he co-founded, Round 13 Capital.
Canadians could have more options to choose from in coming years.
According to IBISWorld, the number of companies in the dating services industry in Canada is expected to continue to expand, by 3.5 per cent this year and three per cent the following year.
That means making a dent as a new player will be harder than ever since many will have to build a database of users from scratch, says IBISWorld analyst Jeremy Edwards.
To survive, they'll need a novel marketing strategy and a focus on untapped potential , just 21 percent of Internet users agreed with the statement "people who use online dating sites are desperate," an eight point drop from the last poll in 2005.
Emerging sites appealing to them include The biggest players also are adding cross-over lines of business.Sniffr aims to help dog owners to meet other dog owners.It originally launched in 2014, but has relaunched with upgrades several times since."It's worked out really well."In its most recent quarterly report, Match Group says more than three million Tinder users pay for premium services and its total number of global subscribers across all brands soared 24 per cent to seven million.But as the popular sites become even more well-established, it's becoming more challenging for newer websites and apps to join in."It's a sign of a very mature market," said Bruce Croxon, a former panelist on CBC's Dragons' Den, but also one of the co-founders of Lavalife.