ENTRACKR - Jan 9 - Online dating has been a tough business to crack in India. This can be gauged from the financial performance of TrulyMadly. While the company has turned profitable in FY18, its revenue has suffered a 50% dip during the same fiscal. With Rs 2.3 lakhs ($3K) worth of profit, TrulyMadly has posted a revenue of Rs 3.61 crore ($500K) in FY18 as compared to Rs 7.21 crore ($1M) in the preceding fiscal. Subscription has contributed ~54.2% of overall revenue in FY18. Its revenue from paid service stood at Rs 1.95 crore ($276K) which is 69.8% up from the previous fiscal. Founded by Sachin Bhatia, Hitesh Dhingra, and Rahul Kumar, TrulyMadly lets singles discover each other through shared interests and personality profiles. The company competes with Tinder, Hyderabad-based QuackQuack, Woo, Bumble and a handful of others.
by Yanogya Sharma
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