Snack Creates Syndicate For Gen Z Investors

Video-first dating app Snack has announced the creation of a ‘Gen Z Syndicate’, which will give young people the opportunity to invest in the platform.

A Simple Agreement for Future Equity (SAFE) has been set up in the US with aims to raise $2 million. Accredited Gen Z investors will be able to invest a minimum of $1,000 in the dating app which is specifically targeted at their own demographic.

Snack is promoted as a cross between Tinder and TikTok, and founder Kim Kaplan said that this is part of the reason why she’s so keen to have input from under-25s.

She explained in a statement: “Gen Z is an incredibly disruptive generation of innovators. They aren’t just TikTokers influencing our style and vocabulary, they’re passionate creators that will soon dominate the startup world, and most importantly for Snack, the dating world. 

“If we want to build a successful brand for Gen Z, there’s no better way to do that than to have Gen Z team members, consultants and investors heavily involved from the start. That was one of the main reasons I decided to open the SAFE.”

Snack initially raised $3.5 million in a pre-seed funding round last year before officially launching in February.

There’s no swiping on the app, instead singles vertically scroll through short video clips which should give a better representation of their personalities. 

It was named as one of the first products to adopt TikTok’s new login kit, which allows users of third-party apps to connect their accounts. They can then share their TikTok videos on their dating profiles.

Kaplan appeared on The GDI Podcast in March to talk about the app and how her background as an early Plenty Of Fish executive helped her embark on this new venture.

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