SEASON 9 EPISODE 12
dating app that connects people based on things they hate in common
$200,000 for 5%
$200,000 for 7.5% + 2.5% advisory shares
What Is Hater App?
Founded in 2016, Hater App started as a joke before creating an online buzz. It piqued the public’s curiosity by promising to match folks based on what they hate or dislike. Its algorithm identifies your best match, depending on your swipes. Since swiping on other people is anonymous, you’ll get your partner if you both right-swipe; thus, haters can hate each other. However, you can send messages to the non-matches every twelve hours. The company also highlights the top ‘hates’ for each state.
After Brendan Alper quit his job as a banker at the Goldman Sachs to venture into comedy writing, he based this notion on a preceding comedy skit and reports showing that individuals who interact over mutual dislikes tend to instill deeper connections.
Alper used his savings, cashed his 401(k), and acquired $100,000 from friends and relatives to set up the app. However, Hater’s popularity skyrocketed after its appearance on Shark Tank, and got $200,000 from Mark Cuban for a 10 percent stake. Alper had also acquired $500,000 from the Sweet Capital venture firm (run by founders of the Candy Crush game) for a 12.5 percent stake.
What happened to Hater?
After its launch in 2017, the app was downloaded more than a million times during its initial year. Thirty-five thousand individuals also signed up upon the leak of the beta program.
Brendan points out that the app’s objective isn’t to hate minorities or people, but create connections through menial distaste. He admits the app is based on two dating principles; physical attraction and sharing opinions.
Currently, Hater comprises of three team members; Joel Idelson (marketing advisor), Stefan Wirth ( CTO) and Brendan Alper( CEO and founder).The app amasses a network of 750,000 users and 4,000 topics. Users can categorize these topics into Love, Dislike, like, and Hate columns. They include the cumbersome IKEA furniture assembly, Steve Harvey, sounds of vomiting, crocs, cargo shots, vegan food, and so on. Users can also submit their topics, but they’re moderated before approval.
Despite Hater’s active website, the app is no longer available on the app store, and its twitter page has been inactive since 2018. There has been no formal statement from the company regarding their closure.
During a CNBC interview in 2018, Brendan said the app wasn’t bringing much revenue at that time; thus, they were rolling out plans on implementing premium subscriptions and advertising. According to reviews on Reddit in 2019, users couldn’t find many folks within their location.