The magic would be to try and achieve that hockey-stick g rowth,” says Sachin Bhatia , cofounder of Truly Madly, which claims a monthly download rate of 65,000-75,000 users.
Others, like Sreedhar Prasad, partner and head, consumer markets and internet business, KPMG India, however, are sceptical.
According to online market researcher Statista, Indian online dating companies are expected to earn around million in 2018, with nearly half the singles (41 million) from the 2011 census on dating apps by 2022.
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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.
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.
This will also help dispel an industry myth of sorts — that online dating is a ‘top 10’ market phenomenon.Navin Honagudi, managing director, Kae Capital, that backed Truly Madly, admits there was doubt in 2014 when the Indian market hadn’t matured.“Questions were raised around adoption and monetisation. So, after their growth phase, dating apps have to seriously think of premium monetisation,” he says.Happn is focusing on Hyderabad, Pune, Jaipur and Lucknow beyond the big cities.Just less than half of Truly Madly’s business is from smaller towns too.And, as Robert Palmer so convincingly sang, it’s about getting you ‘addicted to love.’ So what do you do next? He tries a few times but then moves on to another platform to meet a different woman. Success is when Raj and Simran meet, like each other’s company and date.