See full article at Business Standard
Category: Matrimony.com
Matrimony.com Sees Spurt In Revenue
SIASAT – 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).
Matrimony.com Launches GlobalMuslimMatch.com
PR 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
Q&A With Matrimony CEO – Murugavel Janakiraman
FINANCIAL 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
Matrimony.com Registers 88% Growth In Net Profit
THE HINDU BUSINESSLINE – May 4 – Matrimony.com, an online provider of matrimony-related services, reported 88% growth in consolidated net profit at ₹17 crore ($2.5M) for Q4 ended March 31, 2018, compared with ₹9 ($1.3M) for the corresponding quarter last year. Revenue increased by 12% to ₹84 crore ($12.6M). For the fiscal ended March 31, 2018, net profit increased by 72% to ₹74 crore ($11M). In the Q4, the company acquired secondshaadi.com, an exclusive portal for divorcees.
See full article at The Hindu BusinessLine
Matrimony Survey: How Much Are Indians Willing To Spend On Wedding
THE NEW INDIAN EXPRESS – Mar 15 – The $54B wedding services market is a huge opportunity with 10 to 12M marriages set to take place every year in India. Matrimony.com undertook The Big Fat Indian Wedding Market Survey 2018 in which 9246 people all over India had participated online. The survey revealed that 21% of females were planning to spend Rs.10 to 20 lakh ($15k – $31k) while it was 11.2% of males for the same spending bracket. 6% female respondents said they were going to spend up to $60k.
See full article at The New Indian Express
BharatMatrimony Buys SecondShaadi.com
VCCRICLE – Mar 1 – Matrimony.com, which owns BharatMatrimony, has acquired SecondShaadi.com from Accentium Web. Matrimony.com received board approval for the acquisition on Thursday. It did not disclose the value of the deal. "Buying SecondShaadi will help us consolidate our offerings and help divorcees and widowers get wider choices than ever before," Murugavel Janakiraman, CEO of Matrimony.com, said. Like SecondShaadi.com, Matrimony.com also operates a platform for divorcees called DivorceeMatrimony.com. In September 2016, the Bombay High Court had ruled in favour of SecondShaadi.com against a petition filed by People Interactive, which owns rival matrimonial portal Shaadi.com. Shaadi.com wanted Accentium Web Pvt. to stop using the word 'shaadi' in its domain name. However, the court said in its order that the word 'shaadi' is generic, and hence, Shaadi.com cannot stop others from using the word as a prefix or suffix for their portals.
by Keshav Sunkara
See full article at VCCircle
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Online Personals Watch PR Rankings – The Sites That Got The Most Press In 2017
#1 Tinder (123 posts published on OPW last year)
#2 Bumble (48 posts)
#3 eHarmony (42)
#4 Match Group (41)
#5 Match (37)
#6 OKCupid (37)
#7 Grindr (34)
#8 Happn (22)
#9 The League (21)
#10 Matrimony.com (17)
Other companies that did well and got a solid press coverage last year were Hinge, The Meet Group, Zoosk, Hater, Matchpoool and Chappy.
Matrimony.com Founder Was Rejected By 10 VCs In A Row
TIMES OF INDIA – Jan 14 – In the late 90s, Murugavel Janakiraman built a Tamil community website in the US, and to his surprise it was the matchmaking section that really took off. That sowed the idea for an online matchmaking service, Matrimony.com, which he started in 2000 in Chennai. Late last year, the company launched its IPO, but Janakiraman remembers how quite a few VCs felt his company wasn't one to tie the knot with. He was rejected by 10 VCs straight. They did not believe in his idea.
by Aparna Desikan
See full article at Times of India
The Marriage Algorithm, India’s Caste-Conscious Answer To Tinder
LE TEMPS – Jan 8 – Murugavel Janakiraman founded Matrimony.com in 2000, and successfully launched its IPO in September. His website, which employs 750 people, has its headquarters on the top story of a skyscraper in the southeastern city of Chennai. The originality of Matrimony.com is that it is actually made up of 300 niche sites, each tailored for a different social group. "n India, 95% of marriages take place between people of the same caste or community," Janakiraman explains. There are sites for Christians, Muslims, Sikhs, Jains and the main Hindu castes. There is even a site for Mangliks, who according to Hindu astrology are unlucky marriage partners, and for military personnel, divorced people, elites and others. "Segmentation is one of the keys to our success," Janakiraman explains. His websites has led to ~1M marriages, and 3M members pay to find a soulmate on the platform. A team of 20 analysts and 200 engineers works on selecting the elements of potential matches from a database with information on 30M people who have used the website over the past 17 years. "We are able to predict the success of potential matches," says M. R. Chandrasekar, one of the site's managers.
by Vanessa Dougnac
See full article at WorldCrunch