IBTIMES – May 3 – Matrimony.com, which owns BharatMatrimony and few other matchmaking portals, reported Rs. 300 crore ($47M) in revenue for FY2017 (Fiscal Year in India begins on April 1st and ends on March 31st). The Chennai-based company is planning to IPO in September. Matrimony.com had to shelve its IPO plans last year due to "weak market conditions".
by SV Krishnamachari
See full article at IBTimes
BUSINESS STANDARD – Apr 29 – Indian Matrimony.com, whose flagship brand is BharatMatrimony, has officially rolled out www.HappyMarriages.com – an initiative that guides young married couples to enrich their relationship.
See full article at Business Standard
by Swathi Moorthy
See full article at The Hindu Business Line
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
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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.
BUSINESS-STANDARD – Oct 7 – Matrimony.com Ltd, the company which runs matrimony site Bharat Matrimony among others, is planning to go for an IPO by November. The plans are to raise ~Rs 350 crore (~$5.3M).
by TE Narasimhan
See full article at Business-Standard
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TECH CIRCLE – Dec 22 – Matrimony.com, which owns a string of matrimony-related properties including BharatMatrimony.com, and anti-virus software maker Quick Heal Technologies have received approval from the capital markets regulator Securities and Exchange Board of India (SEBI) for their proposed (IPOs).
by Anuradha Verma
The full article was originally published at Tech Circle, but is no longer available.
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BUSINESS STANDARD – Sep 16 – Matrimony.com, the company which owns BharatMatrimony.com, EliteMatrimony.com, CommunityMatrimony.com, AssistedMatrimony.com, MatrimonyDirectory.com and Tambulya.com — is set to launch an IPO. While the company aims to raise Rs 350 crore ($64M) through the IPO, the actual offer size is bigger (estimated at Rs 600-800 crore). BharatMatrimony.com is India's largest online matrimonial portal and provides services in three segments: matchmaking, marriage services and mobile-only relationship app, "Matchify". Half of the investment will go towards advertising.
by Sheetal Agarwal
See full article at Business Standard
REUTERS – Aug 19 – India's Matrimony.com, which runs online matchmaking sites, has filed for an IPO to raise Rs 3.5B ($53.7B). Existing investors, including US venture capital firm Bessemer Partners, will sell an additional 1.66M shares as part of the issue. Matrimony.com generated Rs 2.32B in revenue last year.
The full article was originally published at Times of India, but is no longer available.
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BBC – May 12 – India still has one of the lowest divorce rates in the world, but marriage breakdowns are becoming more common. This has led to a huge rise in the number of matrimonial services targeting divorcees. ~13 marriages in every 1,000 end in divorce – in the US, it is ~500 in every 1,000. Bharat Matrimony runs a separate site for divorcees – Divorcee Matrimony – which records about 70% annual registration of divorcees.