“India remains a notable highlight and revenue in India more than doubled year over year,” Bumble’s founder said during its earnings call
Bumble entered India in late 2018 when renowned actress Priyanka Chopra backed the startup
Bumble is the third most preferred dating app with average daily downloads of 13.5K
US-based dating app Bumble, Badoo and Fruitz’s parent Bumble Inc has reported revenue of $232.6 Mn for the quarter ending September 2022. Notably, while the company has not disclosed the exact numbers of its revenue from India, it has hinted at a more than 200% YoY growth in the country.
It is worth noting that overall Bumble Inc’s revenue has grown by merely 17%. Barring Badoo and Fruitz, the dating platform Bumble recorded a revenue of $181 Mn – a 27.45% year-on-year (YoY) growth.
“India remains a notable highlight and revenue in India more than doubled year over year,” Bumble’s founder and CEO Whitney Wolfe Herd said in a statement.
The women-focussed dating startup had previously stated that the company is coming up with a locally-tailored bundle in 2023 for India, given the country’s recognition as an important market with major part of its revenue coming from here.
Bumble entered India in late 2018 when renowned actress Priyanka Chopra backed the startup. Its entry into India (alongside other Southeast Asian countries) catapulted its numbers from nearly 20 Mn to 40 Mn users within a year. Bumble was later acquired by MagicLabs in 2019 with Herd at its helm.
Bumble operates as a matchmaking platform for people looking to date (mostly for long-term relationships) in the nearby vicinity. It earns revenue from a premium subscription providing more swipes and other additional interactions such as video calling, audio bios and more.
While the pandemic slowed its growth significantly in the following years, 2022 saw a renewed focus and the company claimed that India was a market that continued to deliver for Bumble. Notably, India is also the second-largest market for dating apps across the globe.
According to AppTweak estimates, Bumble was the third most preferred dating app in India with average daily downloads of 13.5K, only next to QuackQuack and Tinder.
Lately, Indian players have woken up to the vast potential of virtual dating apps with a slew of homegrown apps including TrulyMadly, Aisle, OkCupid, and FRND gaining prominence.
According to Inc42 Plus analysis, the online dating industry was worth $323 Mn in 2020 and is expected to reach a market value of $791 Mn by 2025.
