It’s time to copy Asian innovation! Many think Chinese and Koreans are busy adapting American ideas to their local market. Truth is, Asia is much more innovative than the rest of the world when it comes to consumer internet. After the social networks challenging Facebook, here is another innovation I would copy in a second if I was looking to start a new online business:
ium [is] an online dating site with a new twist: you get matched with one person per day. Once you see your matches profile, you can make a decision whether you are interested. If both parties say yes, contact information is exchanged. If one or both parties say no, you have to wait until the next day. […¨
The site boasts 90,000 registered users and is currently profitable. What’s the profit model? In order to actually say “yes” to a match, you must pay a fee of 3,300 won ($3) each time you wish to do so. Subscriptions are also available at 9,900 won ($9) and 14,900 won ($13), giving you the opportunity to say yes for 14 and 30 days respectively.