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Anupam Mittal recalls purchasing the Shaadi.com domain for more than 20 lakh; says, ‘We used all our money’
Anupam Mittal, a shark on Shark Tank India and founder of Shaadi.com, shared his journey of acquiring the Shaadi.com domain. Read to know more!
Anupam Mittal, a judge on Shark Tank India and the founder and director of Shaadi.com, has shared that he made a significant investment in acquiring the Shaadi.com domain. In a recent podcast interview with Finance with Sharan, Mittal revealed that the transaction took place in the late 1990s when his company had $30,000 in its account.
Anupam Mittal's domain investment journey
Despite having a limited budget, they decided to allocate $25,000 towards purchasing the domain, anticipating long-term benefits from this strategic investment. $25,000 is today equal to 20,84,726 INR. Anupam also said that they previously owned Sagai.com before Shaadi.com.
From Sagaai.com to Shaadi.com
He stated, “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. We had saved about $30,000 in our company.”
He continued, “We were getting the domain for about $25,000. $25,000 or $30,000 seemed exorbitant but I believed that without a domain that can become ubiquitous, that can become known for the category, it’ll be tough, and this will make our lives easier. So we used all our money.”
Anupam Mittal’s insights on dating apps
When asked about his investment in dating apps and whether he had missed the opportunity to develop a dating app, the Shark Tank judge said that dating apps in India aren't profitable.
He added that apps including Tinder and Bumble aren't doing well either. Anupam Mittal said, “Their revenues are not that big, and the problem is in India it’s very lopsided. Women always have too much to choose from, so therefore you’ll see very few guys get all the demand and all the other guys who come on these sites don’t know what to say.”
He added, “They say the most obnoxious things, and the women run away. So I think there’s no real money to be made.” Anupam said that young people, mainly millennials, do use matchmaking services like Shaadi.com, despite the misconception that they only prefer dating apps.
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