Bharatmatrimony Gets Second Round Of $11.75 Million From Mayfield Fund, Yahoo And Canaan Partners
Consim Info, formerly known as BharatMatrimony Group, has announced its second round of funding of $11.75 million led by Mayfield Fund, with participation from existing investors, Yahoo (NSDQ: YHOO) and Canaan Partners. From Mayfield, Nikhil Khattau will join the Board of Consim as Director and Navin Chaddha will be an observer on the Board. Consim had raised $8.65 million in 2006 from Yahoo and Canaan Partners. [via release]
Around 80 percent of Consims revenues are from the Matrimonial classifieds business, and the company will use the funds to expand into international markets - setting up operations in the US and UK, among other countries. They also intend to strengthen their other offerings - Clickjobs.com, IndiaProperty.com, IndiaAutomobile.com, IndiaList.com, IndiaPages.com, LoanWala.com and Desimatch.com. Their matrimonial business is highly segmented, they have portals for Assamese, Bengali, Gujarati,Hindi, Kannada, Malayalee, Marathi, Marwadi, Oriya, Parsi, Punjabi, Sindhi, Tamil, Telugu and Urdu. They had also launched a matrimonial portal alongwith Yahoo for Indonesia and Malaysia, called Muslimmatrimonial. The company intends to go for an IPO in 2009, CEO Murugavel Janakiraman had told ContentSutra, earlier last year in an interview.
Related StoriesPosted In: Money, M&A & Venture Capital, Venture Capital, Companies, Bharatmatrimony
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Comments (9)
Feb 5, 2008 5:50 PM
They are already loosing matrimony market to Shaadi.com….These guys are not really focussed…Take a look Naukri and they are doing extremely well. These guys putting their hands everywhere…best of luck
Feb 5, 2008 9:37 PM
So how much revenues & profit/loss is Consim making as a whole ?
My educated guess is about Rs 50 crores sales for 2007 - Jan to Dec…. any others who might know ?
Feb 6, 2008 12:05 AM
The market share of BharatMatrimony in the matrimony business is more than rest of the players. It’s only BharatMatrimony growing while rest of the players are loosing. They are doing the right thing.
Feb 6, 2008 3:03 AM
yahoo re-invests ?? they themselves are looking for funding. personally doubt if they have invested much.
Am interested in knowing how much percentage share Comsin has now offloaded through such fundings.
Ref to who is growing, well not much time left for the two i.e Shaadi & BharatMatrimony aka Comsin to go public - 2009, then the whole world will know who makes more. looking at the US audience on shaadi Vs all portals of Bharatmatrimony i think Shaadi makes more. Indian internet users do pay but considering Matrimonial space generating more monies out of pageviews (as reported by few online surveys if that is what Raj you referring to)... serious doubts….
but as long as the internet firms grow and get good fundings Am happy.
Cheers!!
Feb 8, 2008 8:43 AM
I know some senior people at BM and they have confirmed that the valuation was north of $100 million, so i guess they offloaded about 10%
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