Matrimony.com goes public; plans to take business to the next level
Spends almost INR 50 crores on marketing per year, says Murugavel Janakiraman, Founder and Managing Director, Matrimony.com
For more updates, be socially connected with us on
Matrimony.com, which runs the online matchmaking portal Bharat Matrimony, launched its IPO which was scheduled to open on September 11, 2017, and will close on September 13, 2017, with a price band of Rs. 983-Rs. 985 per equity share of face value of Rs. 5 each of the company.
When asked about the development, Murugavel Janakiraman, Founder and Managing Director, Matrimony.com, said, “We are a profitable company with a proven business model. The matchmaking industry is big and we wanted to move it to the next level.”
The company plans to continue to increase the marketing spend with more focus being given to television. When asked about the marketing strategy after the IPO, Janakiraman said, “We spend almost INR 50 crores on marketing every year. There’s always a slight increase in this number every year. We plan to continue to do the same.”
Talking about the marketing mix that they have been following, he said, “We focus the most on television because we feel our brand is strong and television being a mass medium helps us in what we’re doing. We do organise events which are religiously based in the states of Tamil Nadu and Andhra Pradesh.”
“Penetration of mobile and internet is growing day by day. 75% of our viewers use this technology now. Technology is evolving continuously. Being in this market since 2005, we have witnessed a lot of changes and transitions with the invasion of technology in all spaces,” said Janakiraman while talking about how the company is faring on the digital front.
The platform offers match-making services across demographics in the country with about 15 different portals divided according to States under ‘Bharat Matrimony’ and a lot many under community-based portals. Apart from this, the company also offers wedding services such as photography and videography, a service providing platform to help customers save on their wedding expenses under the name Matrimony Bazaar, and a venue finder under the name Matrimony Mandaps.
Speaking about these initiatives, Janakiraman said, “We work on a commission basis with the vendors on each of these portals. The plan is to become an end-to-end wedding platform right from finding a perfect match to getting married.”
When asked about the market share of Matrimony.com, Janakiraman said, “There are about 60 million people who are searching for their match. Unfortunately, only 6 million of them are carrying on with their search online. We have, by far, the majority market share all thanks to our portals and services. Our business model has helped us achieve great heights. During the financial year 2017, we have had almost INR 280 crores of revenue.”
WhatsApp, Instagram, LinkedIn, Twitter, Facebook & Youtube