Newly re-appointed Tinder chief executive and founder warned startups that trying to be “the next Tinder” is a bad business model, and entrepreneurs should “want to be better."

Sean Rad said that the company was “flattered” by the attention, however.

Entrepreneur Rad made one of his first public appearances at Web Summit since stepping down as the hookup app’s CEO last year.

He was demoted after his coworker brought a sexual harassment case against him last year.

Five months later, he is back in the role.

Speaking of the demotion, he said: "It was a decision that we all made together. Of course I was going to stay, I saw my role as helping the new CEO [Chris Payne] make the best decisions for the company.

“The board wanted me to be the CEO again and I’m happy to play any role as long as I get to work on the product and make an impact on this world.

“I’ll mop the floors if I have to - if that’s the best use of my time,” he added.

Changes to Tinder

Rad revealed the app will be making some announcements about the most significant algorithm changes Tinder has ever made within the next few days.

Meanwhile, it is gearing up for it’s parent company IAC’s upcoming IPO. While Rad wouldn’t reveal what kind of revenue the app is making, he hinted that it is the most profitable part of IAC, which also owns dating sites Match.com and Plentyoffish.com.

“We are making money. We are a very, very healthy business,” he said.

The revenue comes from the premium services Tinder offers, but Rad didn't dismiss use of adverts in the future. He added that Tinder would always be free for users who didn't want to extra features. 

Tinder facilitates over 1.5 million dates a week, and seen 9 billion matches to date.

Rad, who designed and marketed what quickly became a no-strings sex app, condemned the negative press it's garnered.

“The press is always going to focus on things that are controversial. Eventually that will die.”

Last year, Tinder’s Twitter account went into hyperdrive and launched a empassioned 31-tweet rant at a Vanity Fair journalist after they wrote a negative article about the business.

Tinder subsequently apologised for what they described as an “overreaction.”

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