WhatsYourPrice.com is an online dating website where “generous” suitors pay for dates with “attractive” singles. It’s a business model that really stands out in a crowded space, and is the perfect example of the free market at work.
Customers browse the profile of prospective dates and bid cash for the privilege of taking them out on a first date. I think once you get over the inherent awkwardness, it makes a lot of sense.
Both men and women can sign up in the “generous” category (but not surprisingly, it’s mostly guys).
Is What’s Your Price Prostitution?
What’s Your Price has been the target of criticism, with people calling it borderline prostitution and saying the women are basically hookers. These people are wrong.
If there’s someone you really want to meet, based on their profile and picture, what’s $50 or $100 in the long run? If that’s what it takes to stand out from the crowd and get noticed, what’s wrong with that?
It’s pretty much exactly what Coca-Cola does when it spends the big bucks to buy advertising time. They can buy the airtime, but if the message doesn’t connect, they won’t sell any soda.
It’s Just a Foot in the Door
Your WhatsYourPrice bid only buys you a first impression; it’s a foot in the door, and nothing more. And just like the ad that doesn’t connect, if your winning personality doesn’t impress enough for a second date, you lose.
Now if it really works out, you’ll probably want to leave out the WhatsYourPrice details when you tell your grandkids how you met. But a lasting relationship really is priceless, so I don’t see the problem in spending (or accepting) a few bucks initially to see if it’s worth pursuing.
WhatsYourPrice.com is social economics at its best.
Did You Know?
Their unique dating system is “patent pending” with the US Patent Office: Application No. 61407831.
If necessity is the mother of invention, I would guess the creator of WhatsYourPrice.com was a busy (read: un-attractive) but “generous” (read: rich) individual.
Indeed — the company was founded by former Fortune 500 executive and serial entrepreneur, Brandon Wade, who describes his younger self as a “never-been-kissed geek.”
Ever tried it? Would you pay (or accept payment) to go on a date?