MONEY CONTROL - June 28 - 80% of TrulyMadly's paid user base, which is ~100K, is looking for 'something serious'. Gone are the days when Indians would directly go to matrimonial sites to look for marriage prospects. Now, more and more people are preferring to get on to dating apps to find love and take the next stop forward. According to a survey conducted by Assocham Social Media Foundation last year, a large group of respondents said instead of matrimonial sites or newspaper ads, they would use a dating app to find their life partner. TrulyMadly is one of India's leading dating apps. "We have positioned ourselves as a dating app for those looking for something serious. That’s why ~50% of the app's active users are 28 years or older and 70% are 26 and older." According to Statista, revenue in the online dating segment amounts to approximately Rs 428 crore ($62M) in 2019 and the user penetration is 2.9%, expected to hit 3.2% by 2023. The average revenue per user (ARPU) currently amounts to ~Rs 108 ($1.57). TrulyMadly declined to share financial details.
by Maryam Farooqui
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