In the modern world of rapid speed, it might be difficult to make real connections. In an attempt to find someone special, a lot of people use dating apps, yet frequently, these services only highlight common interests and pastimes. While shared interests might unite people, they are not necessarily sufficient to establish a genuine bond. What if there was a chance that our dislikes would also help us find a match?
Brendan Alper developed Hater, a dating app that matches users based on common dislikes rather than just likes, as a result of this original concept. Brendan thought that relationships could become more genuine if people connected via common negativity.
Brendan Alper presented this creative idea to Shark Tank, asking for $200,000 in exchange for 5% of his Hater Dating App’s stock. Did the entrepreneur get a deal on Shark Tank? Check out our Hater Dating App update to find out!
hater dating app net worth 2024
Brendan Alper asked for a $200,000 investment in exchange for 5% equity in his company, Hater. This meant he valued his company at $4 million. He made a deal with Mark Cuban for $200,000 in exchange for 10% equity. After the show aired, Hater saw a big increase in website traffic, sales, and social media exposure. However, due to challenges with user engagement and monetization, Hater officially shut down in June 2019. The current net worth of Hater in 2024 is $0.
Hater Dating App Shark Tank Update
After his Shark Tank participation, Brendan was able to negotiate a deal with Mark Cuban. As for a Hater update, Hater did not last long despite a promising beginning. Only a few years after the episode aired, in June 2019, the app was officially shut down.
Although the concept was new, it appears that Brendan had difficulty making the program profitable. Although specific reasons for the Hater Dating App’s failure are not obvious, low user interest and challenges with revenue generation most definitely played a part.
Yes, Hater did get a deal on Shark Tank. Brendan initially asked for $200,000 in exchange for 5% equity in his Hater Dating App. The Sharks showed interest, and Brendan received multiple offers. Ultimately, he accepted a deal from Mark Cuban, who offered $200,000 for 10% equity.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Mark Cuban | $200,000 for 7.5% equity + 2.5% advisory shares | N/A | Yes |
| Lori Greiner | $200,000 for 10% equity | N/A | No |
| Barbara Corcoran and Robert Herjavec | $500,000 for 15% equity | N/A | No |
| Barbara Corcoran | $250,000 for 5% equity | N/A | No |
| Robert Herjavec | $250,000 for 15% equity | N/A | No |
| Rohan Oza | Out | N/A | N/A |
Hater Dating App Shark Tank Pitch
Hater’s founder, Brendan Alper, had no intention of making a dating app at first. It all began as a joke, a simple concept that led to his trip. Brendan observed that people seem to get along better when they have the same dislikes, be it hate of the same foods, celebrities, or even annoying habits.
He developed Hater, a dating app that matches users based on their dislikes rather than their likes, as a result of this insight and his interest in psychology. Though the concept came from a comedic place, Brendan thought Hater could provide a new, sincere approach to online dating.
It wasn’t an easy journey to launch Hater, though. Brendan had to overcome a number of obstacles, such as liquidating his 401k to obtain $500,000 in venture funding to start the app.
Brendan introduced Hater, an innovative dating software that builds connections based on common dislikes, to the Shark Tank audience. He clarified that the app lets users swipe through a variety of subjects, including politics, food, and celebrities, and then indicate what they like and don’t like with a single swipe.
The algorithm of the software then pairs users with people who have dislikes in common, laying the groundwork for more sincere conversations. In just one month, the app received over 30,000 daily active users, according to Brendan’s remarkable early figures, which revealed that it had 500,000 active users overall.
With between 8,000 and 10,000 active users each day, he acknowledged that user engagement was a challenge and that the app hadn’t yet been made profitable. Despite these challenges, Brendan asked for $200,000 in exchange for 5% equity, hoping to get the funding needed to grow and monetize the app. Keep reading our Hater update to see what happens next!
Asked how many people were using this app. Brendan told the sharks he launched the app around Valentine’s Day that year. They already have half a million people using the app.
Mark inquired about his biggest concentration in cities. He replied New York and Oslo.
Lori Greiner asked how they are making money through the app. Brendan revealed that right now the app is free and he had no sales.
Barbara asked how he ran the Hater Dating App without any sales and profit. He explained that he made $401k through liquidation which means he cashed all his life savings.
One of the sharks questioned how much money he raised. He revealed that he raised 500k. Brendan also revealed he got an investment from a great investor. The investor gets 12.5% equity.
Mark asked about the daily active users. The daily active users are 8 to 10 thousand.
Although Mark Cuban thought the idea was good, he had doubts about the app’s potential to make money. In exchange for 10% stock and an extra 2.5% of advisory shares, he offered $200,000 in total. He accepted Mark’s offer.
Barbara Corcoran made a strong offer of $250,000 for just 5% equity. However, when Brendan didn’t accept right away, she dismissed her offer.
Lorie Greiner, who saw promise in the app’s unique dating strategy, also made an offer of $200,000 for 10% stock.
Robert Herjavec made a $250,000 offer for 15% stock, highlighting the associated risks and the requirement for a higher share that justifies the investment.
Rohan Oza decided that the app’s poor user engagement was an issue to consider and declined to make an offer.
Product Availability
From our Hater update research, with its shutdown in 2019, the app is no longer available as of right now. Since then, Brendan Alper has worked on additional campaigns, such as creating the Everbloom mobile app, which aims to assist users in turning their videos into visual narratives.
Conclusion
Shark Tank was a mixed bag of successes and failures for Hater. The Sharks were drawn to the app’s unique idea of uniting people through common dislikes, which resulted in multiple proposals and a final agreement with Mark Cuban. But in spite of all the enthusiasm at first, the app had serious problems with user engagement and monetization, which finally caused it to close in 2019.
Brendan Alper’s experience serves as a reminder that even the most creative ideas require flexibility in response to market demands and a strong business plan. Even though Hater is no longer with us, Brendan’s spirit of adventure continues as he pursues new ventures, showing that every ending is really the start of something new.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
