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Sep 11, According to the latest census, in85 million urban Indians were considered single, potentially looking for partners.
The number represented a market waiting to be acquired, hooked on and then monetised. It was also around this time that online dating was peaking in the West, with a mix of startups such as Tinderand well established companies in OkCupid or even Match. India, though never a priority market, was just about getting started.
A vast number of urban singles, shunning stigma and societal denouncements, were ready to date online. Slowly, but surely, armed with the ubiquitous smartphone, apps became the norm. And then, the likes of Aisle, TrulyMadly and iCrushiFlush took the plunge into the million market with contrasting business models.
Five years down the line, there is some evidence these companies might be earning money. Statista also says sectoral revenue is expected to show a compounded annual growth rate of Primarily because, Indians, for now, are happy to consume free online products but seriously hesitant when subscriptionbased payment models are thrown up.
However, there are some who do not mind shelling out a few hundred to at least try and find their best match.
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Tinder, for instance, is the third largest grossing app on Android in India, with industry estimates placing its monthly revenues anywhere between Rs crore. That said, the best may well be yet to come, say some founders, especially with the surge in language-first internet users expected over the next few years. The success of these apps will come from the number of authentic female profiles on the apps and how much time users spend on these apps.
But things are changing for the better. Happn is focusing on Hyderabad, Pune, Jaipur and Lucknow beyond the big cities. It is about getting you to spend time on the platform. This business also works on successful failures.
So, imagine Raj speaks to Simran virtually but never meets her. He tries a few times but then moves on to another platform to meet a different woman.
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