New Mobile App Ideas Riff Off Established Favorites 

The mobile app market is known for being one of the most supportive industries for innovation. Low overhead costs mean that startups with new mobile app ideas can flourish in this growing market. 
However, there appears to be a shift in the type of innovation that is occurring in this market. Many of the most exiting new programs hitting the market today draw heavily from existing applications, presenting new variations of tried-and-true favorites.

The latest trend in mobile app ideas

Tinder revolutionized the online dating industry, allowing men and women in the same geographical area to connect with the flick of a finger. Right means you are interested, while left means you’d rather pass. If both parties swipe right, the app connects them, allowing them to message and share photographs. Tinder is wholly owned by The Match Group, a subsidiary of IAC (NASDAQ:IACI) that made headlines a little while ago for its acquisition of Vancouver-based free online dating platform PlentyOfFish. Business Insider reported in 2015 that, according to JMP Securities, Tinder may be worth $1.6 billion as a standalone business, constituting 20 percent of IAC’s market capital. And, as its paid subscription Tinder Plus takes off, JMP predicts that it could bring in about $121 million from subscriptions (for perspective, that would be 5 percent of IAC’s total revenue next year).
Recognizing Tinder’s success, app developers are enthusiastically adopting its focus on swiping and geographical proximity. Some, like former Tinder employee Whitney Wolfe, are staying close to the online dating market. Her app Bumble forces women to reach out and contact their match themselves, all within the first 24 hours of connecing. In an interview with International Business Times, she outlined the value of this “feminist platform,” explaining that it evens the dating playing field across genders. However, other apps are getting even more creative, using the Tinder model to simplify all facets of life.

House buying heats up with Tinder-like applications

In January 2015, Vulcan Post published a profile on the Reach app, a platform that connects networking professionals in real time, based on their geographical location. And last summer, TechVibes introduced Pocket Homes, an application that allows home buyers to swipe right and left on homes they like and dislike, immediately sharing this information with members their user group — for example a spouse. According to CEO Matt Diteljan, the app is the “Tinder of real estate.” He said, “Pocket Homes makes the process of [home buying] a lot less daunting and allows people to quickly get opinions from the people they want to hear from.” Pocket Homes is specifically tailored to the Canadian real estate market, but there are other apps targeted to regions throughout the world.
Take Knocker, for example, which functions on a very similar premise. In a conversation with This is Money, co-founder Jon Grant discussed the obvious parallel between his app and Tinder. “It’s always nice to get compared to something that big, and we hope that people don’t see it as a limitation. Tinder has been a huge influence on the process, and we hope that the very simple approach to property search is something that resonates with users,” he commented.
Judging by the proliferation of Tinder-like apps, this model certainly does seem to resonate. It stands to reason, then, that app developers are relying on the tried-and-true when brainstorming new mobile app ideas. For investors, this suggests that applications that rely on familiar patterns might be the most likely to hit pay dirt. It’s something to keep in mind, when searching for the next big app breakthrough.
Don’t forget to follow us @INN_Technology for real-time news updates.
 
This article was originally published on July 23, 2015. 
Securities Disclosure: I, Morag McGreevey, hold no direct investment interest in any company mentioned in this article.