From KitKats to $400 Million: The Journey of Hinge’s CEO
- September 23, 2024
- 0
Introduction: The Birth of Hinge Justin McLeod, the co-founder and CEO of Hinge, turned a simple idea into a booming dating app that generated $396 million in revenue
Introduction: The Birth of Hinge Justin McLeod, the co-founder and CEO of Hinge, turned a simple idea into a booming dating app that generated $396 million in revenue
Introduction: The Birth of Hinge
Justin McLeod, the co-founder and CEO of Hinge, turned a simple idea into a booming dating app that generated $396 million in revenue last year. Known for its unique concept of being a dating app designed to be deleted, Hinge has become the second most downloaded dating app in English-speaking markets, just behind Tinder. But McLeod’s journey wasn’t without its challenges; it started with creative marketing strategies and a lot of grit.
The Early Days: Bribing for Sign-Ups
In 2011, while studying at Harvard Business School, McLeod faced the daunting task of attracting users to his fledgling app. The world of online dating was primarily desktop-based, making mobile dating seem like a novel concept. To entice students to try Hinge, McLeod resorted to bribery—offering KitKat bars in exchange for sign-ups.
“I remember running around Georgetown’s library, bribing kids with KitKats to come try my app,” he recalls. His innovative approach paid off, albeit modestly, as he managed to attract dozens of users daily.
Financing the Dream: Scrappiness and Networking
Getting Hinge off the ground required more than just candy. McLeod had to hustle hard, securing funding through various means. He shared that he was “begging and borrowing” to gather the necessary capital, collecting small checks from anyone willing to invest.
“It’s just what it takes sometimes,” McLeod explains. His determination led him to raise significant funds, which were crucial in turning his vision into reality.
A Fortunate Offer: The McKinsey Break
While building Hinge, McLeod received a lucrative job offer from McKinsey, which would have set him on a traditional career path with a six-figure salary. However, he chose to defer this opportunity, believing in Hinge’s potential.
“Once Hinge started to become successful, they realized I probably wasn’t coming back,” he said. McLeod’s commitment to entrepreneurship proved fruitful, culminating in Hinge’s acquisition by Match Group in 2015 for an undisclosed sum, raising its valuation to approximately $75.5 million.
Life After Success: Living the Dream
Following Hinge’s success, McLeod treated himself and his family to a lavish $13 million apartment in New York City. Today, Hinge operates under his leadership, continuously evolving and attracting millions of users.
Advice for Gen Z Entrepreneurs
McLeod’s journey serves as an inspiration for young people today who aspire to be their own bosses. Research shows that entrepreneurship is increasingly appealing to Gen Z graduates, with “founder” being one of the fastest-growing job titles.
His advice for aspiring entrepreneurs is simple yet profound: “You have to be hopelessly idealistic and ruthlessly practical at the same time.” Balancing these two aspects is key to creating something meaningful and impactful.
For those uncertain about their career paths, McLeod encourages action over overthinking: “Give work a go, whether it’s starting your own business or entering the job market.” He emphasizes the importance of exploring different opportunities to discover one’s true passions.
Conclusion: The Path to Success
Justin McLeod’s story exemplifies the spirit of entrepreneurship—filled with challenges, creativity, and determination. From bribing students with KitKats to leading a $400 million business, his journey reflects the potential that lies in following one’s passion and being willing to take risks.