Entrepreneur Anupam Mittal appears as a ‘shark’ on Shark Tank India.
Anupam Mittal, the founder of Shaadi.com, recently disclosed that he invested approximately ₹20 lakh to acquire the company’s domain back in the late 1990s. Reflecting on the early days, Mittal revealed that the company had a modest ₹25 lakh in its account during that period. This revelation sheds light on the significant investment and financial landscape of Shaadi.com during its nascent stages.
Anupam Mittal shared his conviction that the investment would prove lucrative in the long run. During a podcast, he reminisced, “We operated a company specializing in IT solutions for other businesses. It was during this time that we launched Sagaai.com, laying the groundwork for Shaadi.com. Within our company, we had accumulated approximately $30,000 in savings.” Reflecting on the decision to purchase the Shaadi.com domain, Mittal remarked, “The price tag of $25,000 or $30,000 initially seemed extravagant. However, I firmly believed that establishing a domain synonymous with the category was crucial for our success. Therefore, we decided to invest all our savings into acquiring it.”
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Discussing investments in dating apps, the Shark Tank India judge highlighted, “Their revenues aren’t substantial, and the issue lies in India’s dating scene being heavily skewed. Women often have an abundance of choices, resulting in only a handful of men receiving the bulk of attention. Consequently, many other men on these platforms struggle to make an impression, often resorting to saying inappropriate things, which drives women away. Hence, I believe the potential for significant profits in this sector is limited.”
Anupam Mittal disclosed that the majority of Shaadi.com’s user base consists of millennials. Contrary to the belief that millennials are not utilizing matchmaking platforms, Mittal clarified, “The notion that millennials are not using matchmaking sites is not entirely accurate; in fact, most of our audience comprises millennials.”
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