Indian online dating industry
“Just like e-commerce sites, now there are celebrities throwing their weight behind the dating space.
There are investors, and there are consumers.”Much of this success can be attributed to changing social norms in urban India, a huge population under the age of 30, and the willingness of Indian entrepreneurs to tailor their products according to the needs of young men and women in the country.“Much like how Flipkart singularly focused on customer service, newer dating apps are working towards the right product market fit, verified profiles, ensuring that no married men got on the app, assuring women of safety and security,” Sachin Bhatia, co-founder of Truly Madly, another popular dating app, told Quartz.
In March 2015, Truly Madly raised .7 million (Rs35 crore) from Helion Venture Partners and Kae Capital.
Woo, on the other hand, is backed by Matrix Partners, Omidyar Network and mobile technology company, U2opia.“The Indian society is fast transforming and online dating is increasingly becoming acceptable,” Helion’s Ritesh Banglani told Business Standard newspaper.
It was in 2013 that Tinder—the Los Angeles-headquartered location-based dating app—made inroads into the country, and became an instant hit among legions of urban youngsters.
Two years on, India is Tinder’s top market in Asia, the company’s spokesperson Evan Bonnstetter told Quartz.
Dating sites and apps were most popular among younger internet users - 14 percent of U. internet users aged 18 to 34 years were currently using dating sites or apps and a further 29 percent had done so previously.
But Indian dating platforms typically promise to connect urban singles who are not just looking for casual relationships, but also sometimes a potential spouse.The one-year-old company had some 150,000 active daily users.On Tinder, “there are more than 7.5 million swipes in India each day on average,” Bonnstetter told Quartz.“We really don’t keep tabs on other companies,” the spokesperson said.Online dating is no longer seen as a last attempt for the desperate and lonely to find their soul mate.
A further 20 percent used online dating for non-exclusive romantic partners and 23 percent of respondents stated that that they used online dating apps and services explicitly for sexual encounters.