Category: Matrimony.com

The 1st IDEA SUMMIT is in India

Posted on January 16, 2019

Idea-weblogo-2xOPW – Jan 16 – IDEA exists to help the dating industry grow and achieve its true potential. I feel this industry is still entirely fledgling, and we can do more by learning and sharing on important issues and opportunities. OPW.news helps, but we can do more.

IDEA WOW in Malta in November was an experiment. It went very well, but attendees wanted more. We listened carefully and the result is the first IDEA WOW + IDEA SUMMIT which will take place in Chennai in April. The event will be hosted by Muru Janakiraman, CEO/Founder of Matrimony, and I, Mark Brooks.

Last week I invited C level friends in the dating industry and I'm enormously humbled that just 72 hours later it was full. 18 dating executives are speaking. 13 of them are CEOs, 11 are founders and 11 have 15+ years in dating, The event is now full, but I'm sure we'll be doing more. Please let me know your thoughts on what you'd like to see from IDEA, and how we can improve this event concept further at mark@courtlandbrooks.com. Thanks. – Mark Brooks

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US Dating Apps Woo Indian Market

Posted on December 30, 2018

India datingFINANCIAL TIMES – Dec 30 – Bumble launched in India earlier this month, with the high-profile backing of Bollywood actress Priyanka Chopra. At the same time, Tinder has rolled out new features designed to cement its foothold in the country, where it has been operating since 2015. Happn, which matches app users who have crossed paths in real life, has become one of the most downloaded dating apps since coming to India last year. Yet the companies may find Indians difficult to woo. Homegrown matchmaking services with names such as Shaadi.com and Mumbai-listed Matrimony.com, which went public last year in a $78M listing, flourished in India since long before smartphones. According to Matrimony.com almost nine in 10 marriages in India are arranged. But Matrimony.com's share price has fallen 45% over the past year, and profits in the most-recent quarter fell 30% YOY to $1.9M. The foreign apps have yet to prove that the Indian market can be lucrative. Whitney Wolfe, Bumble's CEO and founder, said: "We're entering with purpose, with mission, with a really nuanced, customised product." Far more men in India use dating apps than women, who often stay away due to safety concerns and stigma. ~85% of Happn's users in India are men. But Bumble argues its women-first brand and safety features mean it is best placed to attract female users. In September, Tinder introduced a tool that also gave Indian women the prerogative to initiate a conversation with a match.

by Benjamin Parkin
See full article at Financial Times

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Matrimony.com Launches Dubai Office

Posted on December 10, 2018

Matrimony logo on the wallTRADE ARABIA – Dec 7 – Matrimony.com, a leader in online matrimony, has entered the UAE market through its flagship brand BharatMatrimony as part of its strategic expansion plans. The platform has inaugurated an office at Fortune Executive Tower, Jumeirah Lake Towers, Dubai, to serve Indians in the Middle East region. Matrimony.com, a publicly-listed company, is headquartered in Chennai, India.

See full article at Trade Arabia

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BharatMatrimony Appoints New CFO

Posted on November 28, 2018

Matrimony cfoTECH CIRCLE – Nov 27 – Matrimony.com, the parent company of Indian matchmaking platform BharatMatrimony, has appointed former Mindtree executive Sushanth Pai as its new CFO. He will replace K Balasubramanian, who is retiring. Matrimony.com was founded in 1997 by Murugavel Janakiraman. Its brands include BharatMatrimony, CommunityMatrimony and EliteMatrimony. The company acquired SecondShaadi in March to consolidate its offering for those looking to marry again. For the Q3, Matrimony reported a 12% increase in revenue to Rs 86.23 crore ($12M).

by Vijayakumar Pitchiah
See full article at Tech Circle

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Matrimony.com Appoints New Chief Operating Officer

Posted on November 5, 2018

Matrimony Sankara NarayananPRESS TRUST OF INDIA – Nov 3 – Matrimony.com has appointed Sankara Narayanan as the chief operating officer with immediate effect. Narayanan had served telecom operator Aircel as its national operations-Head and Vodafone Essar as its CEO.

See full article at Business Standard

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Matrimony.com’s September Quarter Profits Decline 30% YOY

Posted on November 1, 2018

Matrimonycom linkedinTIMES OF INDIA – Nov 1 – Matrimony.com reported revenues of Rs 88.2 crore for the September quarter, posting a 5.4% growth from the same period last year, and a 1.5% fall from the June quarter. The company's net profit for the quarter stood at Rs. 13.4 crore, as against Rs 19.2 crore in the corresponding quarter of 2017, recording a 30% fall. The company attributed the decline in profit to higher marketing spend of almost Rs 5.8 crore incurred this period. "We will continue to invest additionally in marketing and as a result the EBITDA margin will be lower than the earlier period," said Murugavel Janakiraman, MD, Matrimony.com. ~95% of the company's revenue comes from its matchmaking business, while its marriage services.

by Sindhu Hariharan
See full article at Times of India

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Matrimony.com Strengthens Management At Senior-level

Posted on August 15, 2018

Matrimony screenshotPRESS TRUST OF INDIA – Aug 14 – Online provider of matrimony-related service Matrimony.com has strengthened its management at the senior-level, as part of its expansion plan. Prasad Nelliparthi has been appointed as its chief human resources officer with immediate effect. Uma Srinivasan has taken over as Head (Talent Acquisition). Karthik Jagannathan has been appointed as senior VP and head of MatrimonyBazaar.com. The expansion plan includes launch of Matrimony Photography, Matrimony Bazaar and Matrimony Mandap service.

See full article at Business Standard

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Matrimony.com Sees Spurt In Revenue

Posted on August 12, 2018

Matrimonycom logo redSIASAT – Aug 11 – Matrimony.com has achieved a consolidated revenue of Rs. 89.6 crores ($13M) for the 2Q, a growth of 6.8% YOY. The company's consolidated net profit after tax for the quarter was at Rs. 15.6 crores ($2.3M), vs Rs 14.9 crores the corresponding quarter of the previous year. Matchmaking segment revenue was at Rs.85.9 crores ($12.5M), up 8.8% YOY. The Marriage Services revenue was at Rs. 3.6 crores ($500K).

See full article at Siasat

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Matrimony.com Launches GlobalMuslimMatch.com

Posted on July 23, 2018

Globalmuslimmatch iconPR NEWSWIRE – July 23 – Matrimony.com, the leader in online matrimony, has launched 7 region specific Muslim matchmaking sites to target 1.5B Muslims in the Middle East, US, Europe, Indonesia, Bangladesh and Malaysia. Under GlobalMuslimMatch.com, which will be headquartered in Dubai, the matchmaking sites include ArabMuslimMatch.com, AmericanMuslimMatch.com, EuropeanMuslimMatch.com, IndonesianMuslimMatch.com, BangladeshiMuslimMatch.com and MalaysianMuslimMatch.com.

See full article at PR Newswire

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Q&A With Matrimony CEO – Murugavel Janakiraman

Posted on June 4, 2018

Matrimony murugavel janakiraman 2017FINANCIAL EXPRESS – May 31 – India's leading online matrimony service provider, Matrimony.com (an arm of BharatMatrimony), is bullish on the opportunities the $54-billion industry throws.

Q: What has been the size and growth of the wedding industry and online matrimonial industry in India over the last five years?
A: The wedding services industry is worth ~$56B. The matchmaking and wedding industry has been growing steadily 25% – 30% every year. 10 – 12M marriages are taking place annually in India and with only 6% of the market going online to find a life partner, there is a huge opportunity for matchmaking services.

Q: How is the wedding industry?
A: It is largely unorganised and that presents a good opportunity for us. We offer MatrimonyPhotography, MatrimonyMandaps (wedding venue discovery platform) and MatrimonyBazaar.

Q: How has your journey been till now?
A: Matrimony.com is the market leader with a 60% share in online matchmaking. ~3.72M profiles were added in FY18.

by R. Ravichandran
See full article at Financial Express

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