A Short Story: Andrey Andreev

Forty-five year old Andrey Andreev is one of the wealthiest entrepreneurs around. He is known as the matchmaker tycoon of the world because of the various successful online dating services he has created. He has been an integral component to the development of Badoo and Bumble. In January of 2019, Andrey Andreev estimate net worth was close to $1.5 billion. However a short two months later, his net worth had grown to $2.4 billion.

 

Andreev spent the first thirty-one years of his life living in his mother country of Russia. He started his career there. Shortly after dropping out of university in 1995, Andreev started an e-commerce store specializing in computers and computer accessories. He later sold that store to establish a nest egg for his later ventures. (Andrey´s academic background review available at Crunchbase articles).

 

In 1999, Andreev moved from selling computers to monitoring internet activity. He started a company called SpyLog, which tracked the behavior of visitors on websites. This proved to be an important step in understanding the logistics involved with internet traffic. At the time, there were few competitors which allowed SpyLog to expand rapidly.Continuing off the information industry, Andreev entered the smart advertising industry in 2002 (Onlinepersonalswatch). 

His new firm, Begun, would use information on users’ web-histories to create targeted individualized ads. Begun has commonly been called a precursor to the ad software utilized by Google nowadays. Seeing the value in Andreev’s work in the field smart advertising, Google offered Andreev $140 billion for his firm in 2008. In 2006, Andreev entered into his most profitable enterprise yet. Andrey Andreev launched Badoo, which became a huge success. With 360 million active users across 190 countries, it is no surprise that the app has been generating $150 million a year. Badoo proved to especially profitable in Europe and Latin America.

Following the success of Badoo, Andreev entered into the American dating market with Bumble. Bumble takes a unique twist to the online dating scene by making women the primary decision makers. On Bumble, women choose their matches, message first, and guide the relationship. Ultimately, this allows the app to differentiate itself enough from Tinder to be viable.

 
More on Andrey´s business projects at https://www.businessinsider.com/badoo-ceo-andrey-andreev-interview-2017-4