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Anupam Mittal, the founder and CEO of Shaadi.com, recently disclosed that he invested approximately ₹20 lakh, equivalent to $25,000, to purchase the company's domain in the late 1990s. Speaking on the podcast 'Finance with Sharan', Mittal revealed the financial decision behind acquiring the domain, stating it was a significant investment for the company at the time.
The journey towards Shaadi.com began with 'Sagaai.com', as Mittal explained, "We had a company where we provided IT solutions to other companies. So there we started Sagaai.com, which was the precursor to Shaadi.com." Despite having $30,000 in the company's account, Mittal decided to utilize all their savings to secure the Shaadi.com domain, believing it would establish their presence in the industry.
Responding to inquiries about potential investments in dating apps, Mittal expressed skepticism about the profitability of such ventures in India. He pointed out the challenges faced by dating platforms like Tinder and Bumble, highlighting the imbalanced gender dynamics and the struggle for male users to attract attention.
Contrary to popular belief, Mittal clarified that Shaadi.com's user base predominantly consists of millennials. He debunked the notion that matchmaking sites are outdated, emphasizing the continued relevance among younger demographics.
Reflecting on his entrepreneurial journey, Mittal recounted his early struggles and eventual success, transitioning from a modest lifestyle in Mumbai to achieving multimillionaire status in his twenties. Despite his father's successful textile business, Mittal faced personal challenges and financial uncertainties before his eventual prosperity.
Mittal's narrative offers insights into the strategic investments and challenges within the online matchmaking industry, shedding light on the evolution of Shaadi.com and its enduring appeal among millennials.
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