Month: February 2022
Dating News Headlines: Hinge
Quick links to today's dating news headlines.
Q&A With Founder & CEO of Matrimony.com
EXCHANGE4MEDIA – In the second edition of 'Pride of India Brands 2021' series, Matrimony.com's founder & CEO Murugavel Janakiraman shares his success story. Matrimony.com is India's leading internet conglomerate that manages brands such as BharatMatrimony CommunityMatrimony, EliteMatrimony and Mandap.com.
Q: You were working in the IT sector in the US in the nineties. How and when did the idea of Matrimony take shape?
A: I wanted to do something on my own. Since I came from Tamil Nadu, I thought of doing something for the Tamil community living outside India. The purpose of Matrimony.com is to build a better Bharat with happy marriages.
Q: What were your major challenges?
A: As a bootstrap organization, funding was a big challenge. From 2006 to 2008, I raised ~$20M in two rounds. Almost all this money went into my new ventures. My major challenge was however hiring the talent. People didn't want to be associated with what they call a "marriage bureau". They didn't realize that it is an IT company.
Q: How has the Indian marriage market evolved over the past two decades?
A: Two decades ago, parents were in the driving seat. Today, parents are in the passenger's seat. Online matrimony has empowered women. The pandemic has accelerated digital adoption in India, especially video formats.
Q: Do you have any plans to acquire your competitors?
A: We cover ~60% of the matchmaking space in the country. If there is any opportunity to acquire others, we will surely consider. But we have our own solid plans to grow in the category. We have constantly registered double-digit growth in the past four quarters.
Q: We would like to know your own marriage story.
A: I was looking for a partner who was based in Chennai and had an engineering degree; someone 2-3 years younger to me. These were my preferences. My father-in-law had created a profile for her. My initial correspondence was with my father-in-law. We have been happily married for 21 years.
Q: What are your plans for the expansion?
A: We have expanded our business in Bangladesh and in Sri Lanka. Through MuslimMatrimony.com we are reaching out to Muslim dominant countries like Malaysia.
Tech Startups to Watch in 2022
FAST COMPANY – Dating app SoSyncd is one of the top 15 tech startups to watch this year, according to FastCompany. Founded in 2021 by sisters Jessica and Louella Alderson, SoSyncd has a different approach that leans on science. Instead of swipe-right-swipe-left routine, SoSyncd' app matches people based on their Myers-Briggs Personality Type, which is derived from a five-minute test. SoSyncd then matches people who might have some commonalities. The company says it already has ~100K users.
Dating News Headlines: Match Group, Hinge, DuoMe, Bumble
Quick links to today's dating news headlines.
- Match Hopes Hinge Can Be Its Knight in Shining Armor – Wall Street Journal
- New Dating App DuoMe Suggests Matches Based on Myers-Briggs Personality Type Indicators – Newswire
- Haven't Found 'The One'? Well, You Have 41 Potentials, Bumble Says – Times of India
- WalletHub Report: 70 Million Americans Expect Their Partner to Spend Less on V-Day – OC Breeze
- Australian Gay Ad by eHarmony Faces Protests From One Million Moms – Star Observer
- Milk & Honey Appointed as Global Agency for Inner Circle – Provoke Media
Match Group Financial Results – 2021 Revenue Just Under $3B
MATCH GROUP – Total Q4 Revenue grew 24% YOY to $806M. Operating income was $232M, up 9% YOY. Payers increased 15% to 16.2M, up from 14.2M in the prior year quarter. Tinder Direct Revenue grew 23% YOY driven by 18% Payers growth to 10.6M and RPP growth of 4%. All Other Brands collectively grew Direct Revenue 26% YOY, driven by 16% RPP growth and 9% Payers growth to 5.7M. In 2021, Match Group's Total Revenue was just under $3B with operating income of $850M. Tinder generated ~$1.7B in Direct Revenue in 2021, up 22% over 2020. Hinge produced $525M of Direct Revenue in 2021, achieving a 91% YOY growth rate. Hyperconnect saw better performance in December compared to the preceding months. Several Match Group brands have begun to leverage Hyperconnect's technology. Meetic opened online video cafes, and Match is offering 1:1 video chat on its app. Pairs and POF intend to leverage Hyperconnect's tech into their apps in early 2022.
Dating News Headlines: Matrimony
Quick links to today's dating news headlines.
Judgement Due After Trial Between Muzmatch and Match Group
Trust & Safety Connect Is Tomorrow
OPW – Trust & Safety Connect (TSC) is on Wed 2nd February 12 noon EST (New York) thru 1:30pm and is on 'user verification.' We have all start panelists from HubPeople, RealMe and FaceTec, and moderator Norman Petty, from The Meet Group. See the event page here. Email mark@courtlandbrooks.com to apply to RSVP for TSC. There are 40 places only.
Trust & Safety Connect is kindly sponsored by RealMe, vPaaS by Meet Group, FaceTec, OneRep, and Courtland Brooks