Matrimony.com – Page 9 – Online Personals Watch

BharatMatrimony Appoints New CFO

Posted on November 28, 2018

TECH 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

PRESS 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

TIMES 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

PRESS 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

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).

See full article at Siasat

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Matrimony.com Launches GlobalMuslimMatch.com

Posted on July 23, 2018

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

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Q&A With Matrimony CEO – Murugavel Janakiraman

Posted on June 4, 2018

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

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Matrimony.com Registers 88% Growth In Net Profit

Posted on May 6, 2018

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

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Matrimony Survey: How Much Are Indians Willing To Spend On Wedding

Posted on March 15, 2018

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

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BharatMatrimony Buys SecondShaadi.com

Posted on March 1, 2018

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.