Solving Bharat’s Dating Problem: The Product Market Fit (PMF) Journey of FRND
FRND is not just another dating app — it’s a game-changer! This innovative audio-dating platform has set its sights on catering to the next billion non-English speaking internet users and is revolutionizing social interaction in India. The journey to building this ground-breaking app was filled with challenges and hurdles, but the founders’ determination and resilience led them to find the product-market fit. Join us on this inspiring voyage of discovery as we delve into the remarkable story of FRND’s rise!
Beginnings 👣
While studying at IIT Kanpur, Bhanu actively participated in hackathons and startup events, fueling his passion for innovation and creativity. After graduation, he landed a coveted job in investment banking at Deutsche Bank, but after a year in the corporate world, he realized that this career path wasn’t aligned with his true calling. Driven by a desire for self-discovery and to explore entrepreneurial opportunities, Bhanu left his job and embarked on a transformative gap year.
During this period, Bhanu extensively read various subjects like biographies and philosophy. He also gained valuable insights into the impact of the internet on society’s different segments by venturing into places like vegetable markets and farms.
As the end of his gap year approached, Bhanu actively engaged in collaborative projects with like-minded individuals in search of potential co-founders. During this period, he discovered the complementary skills of his long-time friends and fellow IIT Kanpur alums, Harsh and Hardik. Hailing from small towns in Rajasthan, the trio shared a common goal of creating something impactful for the non-English speaking population of India. Harsh and Hardik left their jobs in Mumbai, and together, the trio relocated to Bangalore to leverage its thriving startup ecosystem.
The trio hesitated to explore fields like lending, fintech, or e-commerce due to their limited operational experience. However, they quickly recognized the immense potential of social media and embarked on a series of experiments to tap into its possibilities. As they ventured into various social platforms, they discovered a natural inclination among boys and girls to engage in chatting and spontaneous conversations.
They observed that international dating apps primarily catered to English-speaking audiences in Tier 1 cities and were not attractive for non-English speaking individuals in Tier 2 and Tier 3 cities, where conservative norms often restricted interactions between genders and constrained the dating culture.
The trio recognized the transformative impact of Jio’s introduction and the widespread availability of mobile phones and internet services. With personal devices serving as powerful communication tools, new opportunities for social interaction emerged despite the absence of physical meeting spaces like cafes in small towns in India.
Fundraising 💸
During their efforts to gather feedback on their ideas, the trio was introduced to Gagan Goyal, a founding partner at IndiaQuotient, through a mutual friend. They regularly scheduled meetings with Gagan, keeping him updated on their journey. In one of these meetings, Gagan suggested they connect with Madhukar Sinha, another founding partner at IndiaQuotient, during his upcoming visit to Bangalore.
Taking advantage of an event organized by IndiaQuotient in January 2019, the trio seized the opportunity to share their vision of addressing romance and dating challenges for the mass market with Madhukar. Although they had identified the problem statement, they were still exploring the specific solution to pursue. Impressed by the team’s clarity of thought and their ability to identify the problem, Madhukar offered them financial backing for their endeavour.
A word about IndiaQuotient’s interest in funding the trio spread, attracting attention from several other potential investors. However, the team made a conscious decision to avoid overcapitalising themselves.
Gathering User Insights 🔍
One key difference between internet users in big and small cities is their willingness to share pictures on their profiles. In smaller towns, people are often hesitant to share photographs due to privacy concerns and social stigma, particularly from a woman’s perspective. On the other hand, it is common for individuals in urban areas like Mumbai and Delhi to have profile pictures.
Another critical factor is the difference in comfort levels when initiating conversations, expressing intentions, and understanding the nuances of dating. People in urban areas are more comfortable with these aspects, while those in smaller towns may feel apprehensive due to conservative norms.
Bhanu emphasizes the importance of gaining deeper insights when entering a new sector, stating, “The first step while creating a new category is to compile the top 50 insights specific to that space.” To understand the requirements of the mass-market segment, the trio dedicated numerous hours to engaging with blue-collar workers in Bangalore. Also, they visited small towns nationwide to gain a comprehensive understanding of user behaviour.
Achieving Product Market Fit 🏆
According to Bhanu, achieving product-market fit (PMF) has two distinct aspects. The first revolves around user engagement, ensuring the product resonates with and effectively meets the target audience’s needs. The second is centered around achieving monetization and establishing a sustainable business model that generates revenue from the product’s value proposition. Let’s look at how FRND achieved both PMFs.
1️⃣ Engagement PMF:
The trio meticulously crafted detailed wireframes for the app, outlining its structure and essential features. During an IndiaQuotient offsite in February 2019, the team shared the progress with Madhukar. By this stage, they had already conceptualized three key elements, including chat rooms for random interactions between boys and girls. To ensure user authenticity, they implemented a sophisticated voice verification system to determine users’ gender. Recognizing the importance of privacy, especially for girls, they introduced a basic avatar and profile system, enabling users to express themselves without sharing personal pictures.
With the influx of funds in April 2019, the trio experienced significant expansion in their capacity to conduct experiments on a larger scale.
Bhanu emphasized the shift, saying, “Previously, we were limited to conducting just three experiments a month, but now we could carry out 30 experiments within the same timeframe.” They allocated a portion of the funds to digital marketing, aiming to acquire users and evaluate the level of engagement with their product. The team closely observed the behaviour of the top 20% of their user base.
The team understood the significance of qualitative feedback alongside quantitative metrics. They stayed in direct contact with users, having access to their phone numbers, and regularly engaged in conversations to gather insights. They sought user experiences, pain points, positive aspects, and areas for improvement. This close connection provided invaluable feedback, guiding their product enhancements and effectively addressing user needs.
The team diligently monitored the message exchange between boys and girls on their platform. As time passed, the number of messages exchanged between couples skyrocketed, reaching 500, then 1000, and ultimately peaking at an impressive 5000. Concurrently, users consistently displayed an average engagement time of ten to twelve minutes, further reinforcing the team’s belief in the product’s appeal and user enthusiasm.
Between October and December 2019, the team realized that achieving a one-on-one match for every user on a dating platform with a gender ratio of 90% boys and 10% girls was not feasible. To tackle this challenge, they introduced “Impress Me,” a game where one girl engaged in chat conversations with four boys who competed to impress her.
Initially, the team’s focus was on text-based interactions. However, they gained valuable insights through their journey. Firstly, they discovered that boys often faced challenges engaging effectively within the limited two-minute timeframe due to shyness. Simultaneously, it proved demanding for girls to interact with each of the four boys for eight minutes. Secondly, expressing feelings through text posed a significant challenge. Lastly, the participation of multiple users raised moderation issues.
During his visit to Bangalore, Madhukar arranged a meeting with the team at the airport. During this discussion, the group brainstormed various ideas on a paper napkin. Consequently, the team shifted from text-based to audio interactions, introduced moderators to oversee conversations, and expanded the game formats beyond “Impress Me.”
2️⃣ Monetization PMF:
FRND had already achieved an exceptional daily engagement metric of 31 minutes per user. While this level of user engagement is undeniably impressive, the trio aimed to make their business profitable without relying on external funding. They embarked on a journey to explore innovative approaches for effectively generating revenue from their product. This pursuit of profitability led them to undertake a new series of experiments from July 2021 to September 2022.
Throughout their decision-making process, the trio prioritized keeping their platform’s core offerings free to most users. They focused on providing added value and premium experiences for the 10% of power users inclined to pay for enhanced features and services.
The team’s exploration revealed that male users desired dating-related guidance from female users. They introduced the trainer module to address this need, allowing female users to sign up as trainers voluntarily. Male users could then engage with them through virtual gifting, which proved to be a valuable revenue stream. Furthermore, the team introduced an option to impress girls by sending virtual gifts, such as yellow roses or virtual bouquets, creating an additional channel for generating revenue.
In terms of communication, basic text-based interactions and group audio conversations remain free for users. However, initiating one-on-one audio and video conversations requires payment. The team has been continuously implementing several other features. As of May 2023, FRND has achieved over 15 million app installs and has 200,000 monthly paying users.
The team’s ability to quickly iterate and ship new versions of their product has been phenomenal. They have released over 300 versions between Jan 2019 and May 2023. Thanking Madhukar for his support in the journey, Bhanu says, “Madhukar has played a crucial role in driving our progress like a valued team member rather than an investor. His deep understanding of user psychology and product dynamics has greatly contributed to achieving product-market fit through iterative development.”
The Road Ahead ▶️
FRND, with its services available in 10 Indian languages, is strategically targeting the immense potential of non-English speaking internet users in the country. They are determined to cater to similar user bases in South Asia, the Middle East, and Africa. By actively engaging with users through various channels, FRND continuously gathers valuable insights and feedback to drive product improvement. We extend our best wishes to the FRND team on their ongoing journey!
FRND’s story is the 2nd in IndiaQuotient’s #findingPMF series, where we take a deep dive into successful startups’ journey of finding their Product-Market fit. This term is often thrown around in the world of startups & it's undoubtedly a challenge many founders face. Achieving PMF is a critical milestone; It does more than just validate a product’s viability, it also sets the foundation for sustainable growth and helps gain competitive advantage.
Stick around for more! Until then, read Chapter 1(ShareChat) of #findingPMF series or our #pivotseries — Chapter 1(PagarBook), Chapter 2(Oakter), Chapter 3(SUGAR Cosmetics), Chapter 4(WebEngage) & follow us on Linkedin and Twitter 😃
