SC Holdings Negotiates Stake in $3 Billion Online Dating Industry as Now Dating Taps Into AI, Redefining Future of Online Dat...

Date : 08/19/2019 @ 1:40PM
Source : InvestorsHub NewsWire
Stock : Sc Holdings Corp. (PN) (SCNG)
Quote : 0.045  0.0 (0.00%) @ 9:00PM

SC Holdings Negotiates Stake in $3 Billion Online Dating Industry as Now Dating Taps Into AI, Redefining Future of Online Dat...

SC Holdings Corp. Negotiates a Bigger Stake in $3 Billion Online Dating Industry as Now Dating Taps Into Artificial Intelligence (AI), Redefining the Future of Online Dating


London, UK -- August 19, 2019 -- InvestorsHub NewsWire -- Today, SC Holdings (SCNG:OTC) announces it is in active negotiations to increase its shareholding to a controlling stake in portfolio investment Now Dating Ltd., which operates in the $3 billion online dating industry. Now Dating, an award-winning dating app pushing toward integration of Artificial Intelligence (AI) capabilities and voice recognition powered by Alexa, Siri, or Google assist.

Now Dating is an online dating app that encourages people to move into offline dating as soon as possible, setting it apart from other dating apps. Now is, as its name implies, focused entirely on meeting up right now. 

AI is progressively redefining love and making it very effective in more ways than one. AI is of particular interest to Now because people don’t often know what they want. Machine-learning could tailor matches to user actions, rather than stated desires. The Now Dating Siri voice might pop up and say, There’s someone close by we think you’re going to be attracted to, and she’s also attracted to you, she’s free tomorrow night And we know you both like sushi, so would you like us to book you this particular restaurant?

The online dating industry revenue for 2017 was $3 Billion and is expected to double by 2021, with 60% of singles currently using online dating to date. The user to purchase conversion rate at the launch of Now Dating in April 2018 was 0.33%, one of the lowest among competitors, with weekly user growth of 270%.

McKinsey found that 82% of enterprises adopting machine learning and AI have gained a financial return from their investments. The UK leads all European nations with $7.2B invested in AI and machine learning company acquisitions, private equity investment and mergers from 2008 to 2018. On average, AI could boost growth in European economic activity by close to 20% by 2030 according to the McKinsey Global Institute.

About Now Dating

What it is: A dating app that lets you search for users available at the same times as you, so you can meet them whenever and for however long you’re available.

How it works: The app allows you to tell people what kind of relationship you're searching for, let others know when you’re available, and pick out your preferred dating activities. Once you've set your preferences, you can send date invitations with exact meet-up times and a pre-arranged location.

About SC Holdings

SC Holdings Corp. is a Management Company providing Marketing, HR, Business Development services and access to financing to its portfolio companies. The Company acquires ownership in companies with a strong focus on digital media and business services. SC Holdings Corp. will be opening an office in the EU as well as in North America.

FORWARD-LOOKING DISCLAIMER

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of SC Holdings Corp., Inc. to be materially different from the statements made herein.

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