MONEYLIFE – May 11 – Matrimony.com Ltd offers a platform for online matchmaking and marriage services, one of the first companies to provide such services in India. It now has a database of 4.38M active profiles. Matrimony has 134 retail centres where customers can walk in and seek the assistance to register on websites or make payment for the matchmaking product. Its flagship brand, BharatMatrimony, has 15 language-based domains under its umbrella. Matchingmaking services makes up 97% of its business revenue. Matrimony also caters in the marriage service industry. The wedding services industry is worth ~$56B in India. The matchmaking and wedding industry has been growing at 20-25% every year. 10-12M marriages take place annually in India. Matrimony's 2019 revenues grew just 4% from Rs335crore ($44M) in FY2018 to Rs348crore ($46M) for FY2019. Matchmaking segment grew 9.49% YOY. Revenues for marriage services declined by 22.7% for the same period. As far as the profitability margins are concerned, Matrimony has been able to increase its operating profit margins since FY2015. Margins have improved from 3% in FY2016 to 14% for FY2019. Matrimony is currently trading at Rs341 ($4.5) which is 65% below its issue price of Rs985 ($13).
Category: Matrimony.com
The Top Dating Industry News for Feb 11th
OPW – Feb 11 – Match Group's financial results, $2.2B Spent on Dating Apps, Tinder lost Chief Product Officer, New Pew Research Report, Matrimony Acquired Astro-Vision.
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Matrimony.com Acquires Stake in Astrology Company Astro-Vision
ECONOMIC TIMES – Feb 5 – Indian online matchmaking company Matrimony.com has acquired a 26.1% stake in Astro-Vision, an astrology content and horoscope software provider, for an undisclosed sum. Astro-vision provides Vedic astrology content and offers a software that can generate horoscopes. Matrimony.com said Astro-Vision has generated 110M horoscopes till date. Murugavel Janakiraman, Chairman and Managing Director of Matrimony.com, said astrology was critical to a match on the company website.
by Bharani Vaitheesvaran
See full article at Economic Times
This post also appears on InternetDatingInvestments.com
Matrimony Reports Q3 Billings Growth of 7.4%
MATRIMONY.COM – Feb 5 – Matrimony.com, the leading online matrimony company in India, has released its Q3 2019 financial results.
Key financial highlights for the quarter ended December 31, 2019
- Billing at Rs 91.9 crores (~$13M), (growth of 4.3% q/q and 7.4% y/y)
- Revenue at Rs 90 crores (~$12.6M), (down 2.4 % q/q and growth of 5.6 y/y)
- Profit After Tax at Rs 5.6 crores (~$787k), (down 28.3% q/q and 16.5% y/y)
IDEA SUMMIT in Berlin Fills Within 24 Hours
IDEA – Oct 10 – The Internet Dating Excellence Association (IDEA.gp) exists to help the dating industry grow, and to help dating executives learn and share and improve their services for the benefit of their users.
I started IDEA in 2007, and we spent the first 10 years bringing dating industry leaders together socially prior to Internet Dating Conferences. Then we formalized it a couple years ago, and started running distinct gatherings. The first small gathering was IDEA WOW in Malta in November 2018. It went well, but attendees wanted more so we ran an IDEA WOW + IDEA SUMMIT in Chennai India and I co-hosted the gathering with Murugavel Janakiraman, the CEO/Founder of Matrimony, at the Matrimony.com HQ. It was a wonderful experience.
Our first European IDEA SUMMIT event will happen December 4th at the Spark Networks HQ in Berlin. I'll be cohosting with Jeronimo Folgueira, the CEO of Spark Networks. The event was released this Monday, and was full less than 24 hours later! Another small IDEA SUMMIT gathering is in the works for East Coast USA for March in 2020.
Matrimony Q1 2019 Financial Results
PRESS RELEASE – Aug 8 – Matrimony.com, the leading online matrimony company in India, announced its financial results for the Q1 ended June 30, 2019. Revenue grew 7% YOY to Rs 95.5 crore ($13.4M), profit after tax was Rs 9.3 crore ($1.3M) in Q1 2019, down ~39.9% YOY. Matrimony has ~4M active profiles and added 1.2M profiles and ~177K paid subscribers in the Q1 quarter.
Matrimony.com to Dial Down on Wedding Services
CNBC TV – July 3 – Aside from its core business of online match-making, Matrimony.com runs wedding services like MatrimonyMandap, MatrimonyPhotography and MatrimonyBazaar among others. The company expects its Wedding Services vertical to register 50% – 100% growth in FY20. Matrimony.com's non-core businesses contribute just 5% to the company's annual revenues, which stood at Rs 335 crore ($49M) in FY19.
Trademark Row: Matrimony.com Claims Interim Order
THE NEW INDIAN EXPRESS – Apr 23 – Indian matchmaking company Matrimony.com has obtained an interim injunction from the Madras High Court against Kalyan Matrimony, owned by Kalyan Jewellers, for infringement of its trademarks Tamil Matrimony, Telugu Matrimony, Kerala Matrimony and Kannada Matrimony through the Google Adwords Programme and in SEO. "We are pursuing legal action against those who deceptively use names similar to our trademarks and attempt to ride the goodwill and the reputation of our long-standing brands, on which we have invested heavily over the past two decades," said S. Ravichandran, GM (Legal & Regulatory) at Matrimony.com.
See full article at The New Indian Express
Asian Internet Dating and Matchmaking Conferences
OPW – Apr 18 – Want to get your head around Asia? There's a couple conferences we'd like to put on your radar. But best book soon, as they're coming up fast. They're in Singapore at the amazing Marina Sands Hotel. I'm speaking at both of them.
The 1st is the GDI Singapore Dating Conference on May 13-14th, and is 250 GBP. Leaders from Paktor, Pairs, The Meet Group, Matrimony and Spark Networks will be speaking.
The 2nd is the Global Love Conference on May 15-16th, is $295, and will be more matchmaking focused. Leaders from Viola.ai / Lunch Actually, 2 Red Beans, Paktor, and the Matchmaking Institute will be speaking. (Here's a feel good $50 discount code 50OFFSG)
I hope to see you there. – Mark Brooks
IDEA WOW + IDEA SUMMIT, in Chennai, India
OPW – Apr 9 – The Internet Dating Excellence Association World Officers Weekend happened over the weekend, and the IDEA SUMMIT happened Monday. Here’s video summaries of our adventures in Chennai.
Day 1
Day 2
IDEA SUMMIT was a closed door event. It was a very full day of learning and sharing. 14 presentations were made by the CEO/Founder of Matrimony, CEO of Mamba, Chief Mobile Officer of Matrimony, CEO/Founder of Lunch Actually, CMO of Woo, CEO/Founder of Agape Match, CEO of LoveMe, MD of Insparx, Owner of SuccessfulMatch, Owner of Hubpeople, Co-founder of LoveMe, MD of Mamba, and CEO of BetterHalf.ai.
You can see the full information and line up here. Now we’re working on the next event.