Come February 14, there will be another dating app in the Indian market. Chennai-based Matrimony.com, a company that “delivers matchmaking and marriage-related services to users in India and the Indian diaspora,” is launching a dating site named “luv.com”
“While apps like Tinder cater to casual relationships, there’s a growing segment seeking serious relationships before marriage,” Murugavel Janakiraman, CEO, Matrimony.com Ltd, told businessline.
The company noticed this opportunity and acquired the domain “luv.com” to facilitate connections for those wanting to fall in love before getting married, added Janakiraman.
Matrimony.com Ltd owns renowned brands like BharatMatrimony, CommunityMatrimony, and EliteMatrimony. BharatMatrimony is one of the larger matrimony brands, with 100+ self-owned retail outlets in India.
The company reported a seven per cent year-on-year profit at ₹12.5 crore for the second quarter ended September 30, 2023, on a six per cent increase in revenue to ₹122 crore.
Love driven by algorithm
At a time when we live in a society driven by online presence and algorithms, dating apps are trying to enter the Indian market. Around 40 per cent of India’s population is below the age of 25, as per PEW Research Centre.
Dating apps such as Hinge, Bumble, Tinder, QuackQuack, OkCupid, and Aisle have already made a market in the country. All three dating apps that have infiltrated the Indian market (Tinder, Bumble, and Hinge) are from the United States. In Q2 2023, Bumble Inc’s (parent company of Bumble) total revenue saw a strong revenue surge of “18.5 per cent to $259.7 million, compared to $219.2 million.”
Similarly, Match Group, the parent company of both Tinder and Hinge, experienced a four per cent growth in total revenue in Q2 compared with the previous year’s quarter, reaching $830 million.
Matrimony.com Ltd already has a strong presence in India. The company has around six to eight million users on a monthly basis. “Some people don’t want to come to matrimony sites, because they have a thinking that you will be immediately asked to get married, which is not the case,” said Janakiraman. The app will cater to these individuals, where they can understand their partner before considering marriage.
Bengaluru-based Aisle was launched in India for people “looking for serious relationships”. Their tagline says- “Nothing casual about this dating app”.
When asked how luv.com would be different from Aisle, Janakiraman said, “Our app is designed to foster meaningful relationships, distinguishing itself from apps that primarily offer casual connections.”
Dating trend in India
Recently, Bumble released a report to identify dating and relationship trends in 2024. It was conducted with insights from more than 25,000 singles around the world including India.
“Only one in five (23 per cent) women surveyed on Bumble are seeking marriage, whereas nearly three quarters (72 per cent) are looking for a long-term relationship,” says the report.
