Lunch Actually CEO and co-founder Violet Lim (L) with Paktor Group CEO Alex Tam
Singapore’s home-grown online dating companies Lunch Actually and Paktor have announced a merger amidst declining dating app usage in the island nation.
Both brands will continue to operate independently after the merger, and the holding entity will be known as the Lunch Actually Paktor Group.
The new entity will expand its operations across six key Asian markets: Singapore, Taiwan, Hong Kong, Malaysia, Thailand, and Indonesia.
The merger comes amid a shift in Singapore’s dating patterns and mindsets. According to a new survey by Lunch Actually Paktor Group, there is dating app fatigue, with only about 50 percent of respondents reporting that they are currently using dating apps. Over the past year, more than a third of dating app users have reported a decline in usage. Over 350 participants aged between 18 and 65 and above participated in the survey.
Also Read: Kollective Ventures acquires Paktor Group from M17 Entertainment
The 15th edition of Singles Dating Survey 2024 further revealed that the percentage of respondents who did not use dating apps rose from 37 per cent in 2022 to 50 per cent in 2024. The key frustrations of the users include the superficial nature of the interactions (36 per cent), the prevalence of fake profiles or scams (23 per cent), and ghosting or lack of response (21 per cent).
Notably, most of the respondents associate dating apps with feelings of disappointment (66 per cent), followed by hopefulness (63 per cent) and boredom (53 per cent). Frustration, experienced by 48 per cent of the respondents, follows closely behind these top three emotions.
Additionally, 62 per cent feel that the effort they invest in these platforms rarely or never yields satisfactory outcomes.
Reflecting the fatigue and growing disillusionment with dating apps, a significant 88 per cent of the respondents have taken breaks from dating apps. The key reasons include the lack of authentic connections (63 per cent), the preference for more meaningful face-to-face interactions (56 per cent), and the overwhelming nature of constant swiping and chatting (51 per cent)
With the shift away from online dating, singles are showing a preference (81 per cent) for alternative ways to meet potential partners such as dating or matchmaking services.
“The findings of the latest Singles Dating Survey are in line with our experience that dating is largely an offline activity. It is heartening to know that singles who are looking to forge romantic connections remain hopeful on the dating apps while being open to different ways of meeting new people. The survey highlights a shift in dating preferences, and we will continue to support singles in finding their right match,” said Violet Lim, CEO and co-founder of Lunch Actually.
Lunch Actually and Paktor will offer a holistic suite of integrated online and offline dating services to help singles overcome hurdles, including difficulty putting themselves out on the dating scene and the desire to meet more eligible, quality singles. Existing clients will also benefit from a wider range of services and a larger pool of potential matches, enhancing higher chances of finding the right match.
Also Read: Paktor CEO on why online dating is better than a school or workplace romance
“We recognise the various pain points singles face in the digital dating scene, and Paktor has always strived to provide a safe platform for singles to connect meaningfully. Our strength lies in connecting people through technology and digital dating experiences. This merger is a timely one, enabling us to complement our online services with a wider range of offline services. We hope to offer singles fun and authentic dating experiences that lead to lasting romantic connections,” Alex Tam, Group CEO of Paktor.
Founded in July 2013, Paktor Group is owned by Kollective Ventures (KV), a capital advisory and investment firm based in Singapore, which it acquired from Taiwan-based M17 Entertainment in 2020. Paktor’s services include Down, Sweet, and Kickoff, In addition, it also runs offline matchmaking agency GaiGai and image and date coaching agency Fleek.
Paktor is backed by investors, including K2Global, Media Nusantara Citra, YJ Capital, Global Grand Leisure, Golden Equator Capital, and Sebrina Holdings Venture Capital.
Founded in 2004 by the husband-and-wife duo of Jamie Lee and Violet Lim, Lunch Actually Group helps singles meet compatible and like-minded singles through pre-screened, pre-matched, and pre-arranged one-to-one dates. With a presence in Singapore, Malaysia, Hong Kong, Indonesia, Thailand and Taiwan, the group claims to have arranged more than 160,000 dates and matched more than 4,500 married couples through its app, offline matchmaking and coaching services.
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