"I was trying to solve my pains." In 2006 he launched Seeking Arrangement.com, the original "sugar daddy" dating site. Other dating sites followed, like Whats Your Price.com, where people "bid" on a first date with a woman. Payment helps compensate a woman for her own investment—"It's quite costly for any woman to go on a first date with a guy." Wade said Seeking Arrangement will bring in million in revenue this year "and is profitable." Whats Your Price will clear about million.
Navigating Web dating's rough shoals: e Harmony CEO And now, for his next act, Wade has created Open Minded.com, "a safe and stigma-free environment that brings the ease and flexibility of online dating to the currently underserved world of open relationships." (Tweet This) "The traditional model of marriage and monogamy isn't working out for everyone," Wade told CNBC.
"In my own case, after three or four years, things get monotonous. I think a lot of people suffer from that, especially men." The site launched in March and already boasts more than 50,000 members, nearly half of them couples.
More importantly, they may just be open-minded people meeting and dating others with their same attitudes.
Forty percent of members are between the ages of 18 and 35, with 38 percent between 35 and 50 years old.
Wade said membership is growing at a faster rate than for Seeking Arrangement, and he believes one reason is because Open Minded is different from other sites targeting swingers.
Our parents, siblings and partners always try to teach us how to live.
Open minded people are able to ignore other people’s expectations and follow their own interests instead.