The company had raised $2 million from Upfront Ventures in 2015, along with Machinima founder Allen DeBevoise and others. However, Wheel did not suceed like it was supposed to. According to data from analytics firm App Annie, the app was ranked 574 in the Photo & Video category on the App Store, and didn’t place on either the Top Charts or the Social Networking section. The app had fewer than 5,000 downloads in total.
Many video apps have tried their luck but it’s not until Snapchat that they gained much attention. Snapchat is contantly being updated with new features so people don’t lose interest or find it boring. The recent update “Live Events” is doing well, a particular person or a group of people cover an event to show the happenings of the event to the other people around the world.
Wheel’s founding team will join Tinder, including CEO Paul Boukadakis, CTO Chris Shaheen, Joey Boukadakis and Brian Daugherty, according to Variety. Boukadakis will be VP of Special Initiatives at Tinder, and Shaheen will be a senior engineer. Tinder did not share what specific plans it had for video, but it would make sense that the dating app would consider integrating video into user profiles, or perhaps messaging. This makes things a to more interesting for the users.
Having said all of that, this is not the first time Tinder has made an acquisition. The company acquired mobile messenger Tappy a few years ago, and it also took over Humin sometime early last year. Let’s see how this works out for Tinder.
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