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.
