Hello dear readers in this article, we will talk about how Shaadi.com makes money and how Anupam Mittal made shaadi.com one of the biggest matrimonial platform in India.
History Of Shaadi.com:
This is really an interesting story. A man named Mr. Anupam Mittal was working in the US as a Product Manager. Anupam has a dream that wants to start an online business in India. As we know in 1996-1997 India was moving towards a digital revolution. At that time Anupam didn’t have that much idea on which online business he should start.
Accidentally he meets with a marriage broker in the USA. This broker has contact details and connections of 50-60 families and he was earning subtly by taking a commission from a family of a boy or girl who is searching for his/her future spouse.
Anupam understands his business model and finds one big loophole in matrimonial business ie. “Limitations of contacts for boys and girls”. That time Anupam decided to switch this traditional marriage broker business to online so that a girl or boy can find his future spouse easily with his/her choice.
Launch Of Shaadi.com
In 1997, Anupam Mittal launched 1st version of this business model called sagaai.com. (Sagaai means enagagement in Hindi). Anupam Mittal invest all his money into this company that he was earning from a job because his job was the only source of income that he have to run the business.
Later on, he changed the platform name to shaadi.com and came to India, and started building shaadi.com full-time.
How Does Shaadi.com Works?
This platform works simply. The user makes a profile by uploading his/her details like age, address, caste, pictures, hobbies, occupation, and much more on the Shaadi website or application.
The corporation has a team that evaluates the photos that users upload to make sure they are appropriate.
Earlier, it used to take 5-6 hours to upload the photos or details and activate them on the profile as all of it was a manual process. Shaadi.com has currently 394 employees as the platform does not require too many employees for the work that is to be done.
Shaadi.com has an automated feature, which detects fake profiles, gender mismatches on profile photos, or profiles where users have put up their contact details. They have algorithms running on Amazon Recognition to identify these user behaviors. With this technology feature, their first impressions have improved and they have witnessed a 95% reduction in photo screening time.
How Does Shaadi.com Charge Money?
The platform charges money from its users by a premium membership with various plans as seen in the above table. The registration over the platform is free of cost but if the user is interested in a person’s profile, or wants to communicate with another profile they will have to take the premium membership for contacting that person.
There is a variety of premium membership available on shaadi.com. The portal started as an experiment or on pilot mode but now has touched the lives of around 35 million people around the globe.
India’s matchmaking market’s size is around $1 billion whereas Shaadi.com holds almost 40% of it.
How Does Shaadi.com Make Money?
The organization acquires a user to their sites or application through different marketing tactics like a newspaper ad, TV ads, Digital Marketing, Word of Mouth Marketing, or affiliate marketing.
For Example, Shaadi.com acquires 10000 users, of which 3000 will create a profile on their platform. Shaadi.com has a team of sales and marketing tactics in which they will propose a plan of premium.
Let’s say if 500 will buy a basic subscription (Gold membership) that is of 2700 then they will have earnings of 8,10,000. Obviously, they will spend some money on marketing but know a days shaadi.com is acquiring a large number of users on their platform through Organic marketing.
So in simple words, shaadi.com is making money by selling its subscription models like various platforms like Netflix, Amazon Prime or SAAS companies do.
Watch Complete Case Study (In Hindi):
There are lots of matrimonial websites that are now in the market. But Anupam Mittal was 1st who introduces online matrimony to India.
In 1996 there was an internet revolution in India, But still, there were very few people who were aware of the internet and those who are using the internet had no trust in online matrimonial websites. Through these challenges, shaadi.com got succeeded in 2008 and now in 2022 shaadi.com has a lion’s share of 35% matrimonial users on their platform.
So what is that one thing that learns from Anupam Mittal’s journey? Kindly put down your learnings in the comment section.