TIMES OF INDIA – TrulyMadly is one of the bigger and older local ventures in India. Co-founder & COO Snehil Khanor says the company caters to both casual and serious users, "but there's definitely more money in older cohorts." He says 80% of its paying users mention on their profile that they are looking for something serious. 50% of TrulyMadly users are 28+ years old, and 70% 26+. Sumesh Menon, co-founder and CEO of matchmaking app Woo, also says money flows in only from older users, who are both socially and financially dependent. BetterHalf.AI too pitches itself as a "serious matchmaking product for working professionals looking to get married in the next 1-2 years." Co-founder and CEO Pawan Gupta says matrimony sites are too overwhelming for today's generation. Matrimony, Shaadi and others that traditionally relied on revenue from parents, are transforming to attract singles while keeping parents still involved in the process. Murugavel Janakiraman, founder and CEO of Matrimony.com, says till the mid-2000s, parents registered on behalf of their daughters and sons. Not any more. "Today, ~60% of our 3.7M active members are individuals who register on their own." Investments in the segment have been small, and was at its peak in 2015 at $6.3M. That was the year when TrulyMadly raised $5.3M and iCrushiFlush raised $0.5M. Last year there was just one funding deal. According to comScore data, the number of unique visitors to Tinder in India had risen to as high as that of Shaadi in late 2017, and had continued to challenge the local players.
by Sindhu Hariharan
See full article at Times of India
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