NEWS PATROLLING – Bharat Matrimony has invested $500k in Bangalore startup Ask My Guru, bringing its total funding to $1.72M. Ask My Guru is building an AI-powered Vedic astrology platform that enhances traditional horoscope matching with deeper compatibility analysis. The partnership aims to integrate AI astrology into Bharat Matrimony’s services, combining cultural traditions with modern technology.
See full article at News Patrolling
LINKEDIN – Matrimony.com partnered with Truecaller to add one-click authentication to Bharat Matrimony, replacing OTPs and manual entry for faster, more secure onboarding and higher user confidence. Truecaller, headquartered in Stockholm, is the leading global platform for verifying contacts and blocking unwanted communication, serving 433M+ monthly users to build trust in communication for people and businesses.
See full article at LinkedIn
BUSINESS STANDARD – Murugavel Janakiraman, founder of Matrimony.com, grew up in a small home in north Chennai without electricity and went on to build one of India’s largest digital matchmaking platforms. A hobby website he launched in 1997 led to the creation of Tamil Matrimony in 2000, which expanded into BharatMatrimony and ~300 portals across 17 languages. Today, Matrimony.com is publicly listed, generates revenues of over ₹425 crore ($50M), and is diversifying into senior citizen matrimony, marriage-enrichment services, and job platforms for entry-level workers.
BUSINESS STANDARD – Shares of Matrimony.com surged 14% on the BSE, hitting a 52-week high during Tuesday's intra-day trade, driven by the company's announcement that its board will meet on Sep 5, 2024, to consider a share buyback proposal. The stock has rallied 40% in the past three weeks and surpassed its previous high of Rs 785.05 on Aug 21. Matrimony.com, India's leading online matchmaking company, manages brands like BharatMatrimony, CommunityMatrimony, and EliteMatrimony. It is expanding into adjacent segments, including launching MeraLuv.com, a dating app for Indian Americans, and plans to release Luv.com, a next-gen matchmaking app. Analysts attribute the stock's rise to upcoming changes in India's share buyback tax regime, effective from Oct 1, which shifts the tax burden from companies to shareholders.
LINKEDIN, CEO POST – Google has deleted BharatMatrimony, Naukri, Shaadi, 99acres, KukuFm, Stage and many others apps from play store citing Google play billing system (GBPS). They deleted all our (Matrimony.com) apps, over 100, including BharatMatrimony, TamilMatrimony, MarathiMatrimony, Jodii, etc.
Google tried to implement GBPS a few years ago where it forced digital services apps to use their billing system and pay 15% or 30% of revenue compared to less than 2% what apps pay for using other payment gateways. We went to the Competition Commission of India (CCI) and CCI levied a Rs. 936 CR penalty on Google.
CCI's Verdict: Google shall allow, and not restrict any app developers using third party billing/payment processing services.
Google changed their policy so the options are:
If you don't accept any of the above, your app will be deleted. This is what Google has done to most of the popular matrimony apps today.
NEW INDIAN EXPRESS – BharatMatrimony, India's largest matrimonial service, is branching out into the dating market with the launch of a new platform, luv.com. This move reflects a cultural shift among young people in India, who are increasingly interested in dating and forming serious relationships before committing to marriage. The company emphasizes that luv.com will focus on serious, meaningful relationships.
FINANCIAL EXPRESS – Bharat Matrimony's latest ad campaign, "Be Choosy 2.0", emphasizes the importance of shared interests in relationships by highlighting its new 'Interest Matching' feature. The campaign, conceived by Wondrlab, portrays individuals with similar interests who may never cross paths without the platform's assistance.
MONEY CONTROL – The Madras High Court has temporarily prevented Google from delisting Bharat Matrimony and its affiliate from the Play Store over disputes regarding Google's new payment policy. Bharat Matrimony claims Google is misusing its dominant position in the Play Store ecosystem to force app developers to comply with the uneconomical billing policy. The court has granted a stay until June 1, 2023, giving Google time to respond to the allegations. The Competition Commission of India (CCI) previously imposed a penalty on Google for abusing its dominant position and directed it not to restrict or discriminate against app developers using third-party billing services. However, several Indian startups have accused Google of trying to circumvent the CCI's order with its new policy. The Delhi High Court directed the CCI to consider the startups' pleas, with a hearing held on April 25, though the outcome is currently unknown.
AFAQS – BharatMatrimony, the matchmaking service, recently launched a new marketing campaign, "My Perfect Valentine," featuring an AI-generated entity named Aaditya Iyer (AI). This marks India's first marketing campaign utilizing advanced AI tools like ChatGPT and Midjourney.