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Commits $100M for next generation brand name incubations

LONDON and NEW YORK /PRNewswire/ — Andrey Andreev , Founder and CEO for the team which develops, has, and operates market-leading dating and social media apps, Badoo, Bumble, Chappy and Lumen together with their founders, today announced the creation of Magic Lab to act as a keeping company for the growing amount of brands.

Inside the team, each one of the brands continues to take advantage of a provided built-in technology platform built with a best-in-class engineering group ensuring functional efficiencies and freedom. Using this unique foundation, Magic Lab is able to regularly introduce and quickly scale mass consumer services and products to push future development. The brands will give attention to marketing to solve societal dilemmas such as for instance misogyny, stereotypes, ageism and self-doubt. Currently, over fifty percent a billion individuals all over globe scruff for windows have already been linked through the Magic Lab’s category of brands.

“Today we’re making our objective recognized to the entire world – Magic Lab produces life-changing moments for thousands of people because they build relationships,” stated Andrey Andreev , Founder and CEO, Magic Lab. “Those unique moments when individuals meet for the very first time are why is life memorable. The forming of this team reflects our belief that the world-wide-web may be used being a force for good and that everyone else deserves a link, regardless of your social, ethnic or financial history.”

Together with this statement, Magic Lab is committing $100 million to recognize, recruit and help the following generation of item visionaries and revolutionary founders who share a common purpose ??“ basically changing the life of each and every individual on earth by bringing individuals together. The pledge should be utilized mainly for advertising and brand name incubation, since the identified leaders should be able to leverage the team’s provided component-based technology infrastructure, world-class talent, and years of expertise.

Candidates may submit their ideas that are innovative which is evaluated by Mr. Andreev straight. chosen candidates may have the chance to satisfy Mr. Andreev in individual, discuss prospective partnerships and take notice of the complete abilities associated with wider team.

Andreev proceeded, “Our differentiated technology platform, skill, and experience allows us to create consumer that is new, brands and features to your market faster and much more effectively than our rivals. After our success with Badoo, Bumble, Chappy and Lumen, our company is continuing to find revolutionary leaders who possess brand new tips about how to connect individuals together. Our fantasy is always to produce the future of relationships by building chemistry all around the globe.”

Magic Lab develops, has, and runs a profile of mission driven brands:

Badoo ??“ Founded, Badoo ended up being a pioneer in mobile-focused relationship. With more than 425 million users global, Badoo is closing self-doubt by assisting individuals date genuinely.

Bumble ??“ Founded, Bumble combats misogyny by empowering females to really make the move that is first. With more than 55 million users, Bumble links individuals across dating, relationship and expert networking.

Chappy ??“ Founded, Chappy is designed to function as space that is safe homosexual relationship, thriving in acceptance and closing stereotypes.

Lumen ??“ Founded, Lumen is closing loneliness and ageism by connecting over 50s, taking advantage of an underserved market.

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