Indian media has been covering the continued success of the marriage-focused dating platform BharatMatrimony, despite the recent introduction of more casual dating apps, such as Tinder and Bumble.
According to company data, BharatMatrimony has 3.72 million active users, which equates to approximately 60% of the local market share. It also reports more than 100,000 new relationships every year.
Parent company Matrimony.com has seen its share price increase by more than 90% since the beginning of March and currently has a market cap of $230 million. By way of comparison, The Meet Group is valued at just under $300 million.
Matrimony has been expanding its products to serve singles from when they first meet, right up until their wedding day. Platforms such as MatrimonyMandaps, MatrimonyBazaar and MatrimonyDirectory are providing couples with a wide range of wedding services.
However, some commentators are worried that the continued infiltration of Western-style dating apps will eventually lead to matchmaking websites diminishing.
Young Indians are beginning to lean towards a more modern approach to online dating, rather than platforms they might share with their parents.
Able Joseph, the founder of rival dating app Aisle, said to YourStory: “I believe that the pendulum has only started to swing in the direction of online dating. Traditional matchmaking portals will find it hard to convince the youth to go the other way.”
Bumble’s presence has been growing quickly since it first launched in India at the end of last year. It is already the fourth most popular dating app in the country.
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