Love is an essential part of Life. We receive love in many ways, from our parents, friends, and pets, and so on. Humans are such emotional beings that we cannot survive without such emotions. Our whole Life deals with creating bonds of trust and hope, friendship, love. In the olden days, Life isn’t the same as today; it has completely evolved. A Man and woman hiding on a branch of a tree are not what hiding Starbucks and sipping coffee would be like. It has changed. How has it changed? Well, we have apps that help meet up strangers; we have apps that help introverts convert, and there are those apps that help people get to know each other and also fall in love; They are called Dating Apps.
The Rise of Tinder
Dating apps have completely revolutionized the market. We have Tinder, which is a common platform where a vast population of men and women use the app, thus building a considerable userbase. The application was established in 2012 in Hatch Labs, a startup hatchery run by InterActiveCorp, the parent organization of Match Group, via Sean Rad and Justin Mateen (previous CMO); IAC is likewise answerable for dating locales Match.com, OkCupid, and Zhenai (China). After at first being tested in a progression of US school grounds, Tinder was turned out entirely to extraordinary achievement, handling 350 million swipes for each day by late 2013, which could be around 4,000 every second, rising to one billion swipes for each day before the finish of 2014. The allowed to-utilize application presented an exceptional membership model in 2015 with added highlights (Tinder Plus), and the third level in 2017 (Tinder Gold). One-off in-application buys can likewise be made. (1)
The Tinder application connects to your Facebook, Instagram profiles, and pulls up your pictures and information. The pictures pulled ould be then attached to your profile. On the other end, the user can observe your pictures and pull up details from your Bio you have written about yourself. The user can swipe left or swipe right, depending on their interests. With its premise in actual vicinity, it forgoes the perplexing calculations used by other portable dating applications. It decreases it to the least complicated level that you may discover, all things considered: actual fascination. Therefore, Tinder has increased standing as a ‘attach application’ – however, with its entrenchment in the realm of present-day dating, it’s normal for Tinder clients to be searching for a more profound association.
The CEO of Tinder, Elie Seidman, had reported that Tinder was facing Drastic change due to the effect of the COVID-19 Pandemic that shook the world. (2) Over the past months, the app has been receiving a massive base of users every day. The only problem with the epidemic is that it has affected their subscription base. He says that a large number of users have left Tinder due to economic instability. Tinder had reached recorded on March 29, 3 Billion swipes achieved in a day. Tinder has been downloaded around 340 million times since its launch in 2012. However, most of its incomes originate from only 6 million supporters who pay for the gold plan. The rate at which it got those valuable paying-clients declined as lockdown struck.
How has the Pandemic affected the Virtual Dating world
Like Tinder, Many other dating has taken the toll of Economic failure during the Pandemic, but the Dating apps have boomed during the Pandemic. How? The Pandemic’s effect of everyone having to stay at home increased users’ interest in exploring people on these dating apps. Tinder, Bumble, and more have had huge user graphs across the months. One user claimes to have used Bumble because he was bored and was also into the dating zone. (3).
The consensus shows that many in the age range of 25-30 spend their time swiping or scrolling dating apps. More Dating Apps like Azar and the kind of apps work in the same functionality as Omegle (an online chat that enables users to socialize with others without registering) (4). These apps are free to download on the play store and connects you with strangers, getting a chance to speak about their lives. These apps might not be the regular dating apps, but they work with the same conscience. As indicated by a 2018 Nielsen report, there are an expected 13 million metropolitan singles in the 28-45 age bunch with pay upwards of Rs 50,000 every month in the nation. Industry gauges put the potential market for disconnected meetup administrations at about $1 billion.
The Dating app industry estimates to grow at an unprecedented rate. With the youth population exceeding, the dating apps seem to excel. In India, popular dating apps are Tinder, Bumble. The Online Dating statistics for India (5) show the future prediction of 23+Million Indians that would purchase dating subscription plans by 2023. The rate of subscriber will cross the non-subscribers. The Average Revenue per user stats leads higher for Paying users and low at 0-1 for the non-paying users. User max usage at the age range of 25-34 for 51.6%, and slowly progress downwards till 55-64 at 3.4%. India stands at No.3 for the highest revenue providing countries at 323M. USA and China take the Top No.1 and No.2, respectively. The rate of subscriber growth in India has been reducing steeply. In 2018, 201% of paying users now at 66% of paying users existed (due to the Pandemic).