Berlin-based dating app Ohlala plans to raise $100 million through an ICO

Ohlala-Pia-ICO

Ohlala, the paid dating app startup from Berlin, is planning to expand internationally with the help of a $100 million ICO. The token sale will probably start in autumn of this year and will be live for about 2-3 months. With the funds, Ohlala CEO Pia Poppenreiter and her team are planning to build a next generation paid dating platform with consent at its heart.

Founded in 2015, Ohlala instantly enables men to go on paid dates with women. This might sound like an innovative dating approach at first, but in most cases this basically just means/supports prostitution. The startup is not shy about this and communicates it openly. It’s actually one of Ohlala’s mission statements – to “legitimize sex work”. Not just to turn sex workers into “good tax paying citizens”, but also to fight prejudice.

The main objective of the upcoming Ohlala ICO is creation of a “Dating Education Foundation”. According to the Ohlala team, the goal of this foundation is to “take our paid dating revolution worldwide albeit with a renewed sense of purpose which is driven by data and our desire to maximize human well being”.

This “Dating Education Foundation” from Ohlala will have three main acting arms: 1. The Sex Education Foundation, 2. The Dating Education Foundation and 3. The Future Family foundation. More information about these foundations can be found in Pia Poppenreiters latest Medium post.

Sounds interesting – but how exactly does the 3 people founding team of Ohlala plan to use the extremely high funding amount of $100 million (in case they succeed with the ICO)? And how will investors be able to make a profit from investing into Ohlala tokens?

We asked Pia for a comment about the huge funding amount she and her team are aiming for, but she said that further details will only be revealed in a few weeks, when the start of the token sale comes closer.

What I personally already know is that I won’t invest. Not in the Ohlala ICO and not in any other ICO…