by Swathi Moorthy
See full article at The Hindu Business Line
Category: Matchify
BharatMatrimony Pushes Back IPO Plan
TECH CIRCLE – Dec 12 – Matrimony.com has scrapped plans for an IPO this year, with just days remaining for its regulatory approval to lapse. "We have decided to postpone the IPO due to weak market conditions," said Matrimony.com's CEO. Matrimony.com was founded in 1997 and comprises three segments – matchmaking services, marriage services and related sale of products and other services, such as the mobile-only relationship app Matchify. It started offering online matchmaking services in 2001. Matrimony's net revenues more than doubled in the four years between FY11 and FY15. The company closed the year ended March 31, 2015 with net revenues of Rs 232 crore ($34M), up over 16% than the previous year. The company claims it has 647k paid subscribers. The company was looking at an IPO worth Rs 550 crore ($82M) of which ~Rs 200 crore was to go to its selling shareholders.
by Ankit Doshi
See full article at Tech Circle
See all posts on Matrimony.com
This post also appear on InternetDatingInvestments.
Dating Apps In India Pave New Path To Getting Hitched
THE ECONOMIC TIMES – Nov 4 – In all, TrulyMadly, Woo and Tinder have ~1M monthly active users in India, according to a report in tech journal iGadgetsworld. While data for matrimonial sites were not available, experts foresee dating apps catching up. Ritesh Banglani, who led an investment in TrulyMadly last year, said 25-35% of the "users on dating apps are looking for marriage". The trend of arranged marriages is likely to continue to decline and the logical next step for matrimonial sites would be to stay relevant either by innovating or acquire a leading dating app in India." Matrimony.com, which operates BharatMatrimony, acquired Matchify in April last year but CEO Murugavel Janakiraman insists that dating apps aren't able to scale up or make money here. "We tried out Matchify but India has a largely traditional user base so these apps are not going to work here," he said. Gourav Rakshit, CEO of Shaadi.com, conceded that although the site gets ~11K new registrations every day, many of its users are on dating apps as well.
Matrimony.com Buys Dating App Matchify
MEDIANAMA – Apr 7 - Matrimony.com has bought Bangalore based Matchify, a dating app that especially focuses on women with features like verified profiles, secure chat, profile visibility, abuse reporting and blocking. Matrimony.com was founded by Murugavel Janakiraman in 2008, and received venture funding worth $11.75 M from Yahoo! and Canaan Partners. Matrimony.com runs BharatMatrimony.com, a flagship matchmatching network. Earlier this year, BharatMatrimony’s competitor Shaadi.com had invested an undisclosed amount in dating app Thrill.
by Sneha Johari
See full article at Medianama
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This post also appears on InternetDatingInvestments.