Fundings from Venture Capitalists not only bring in the much-needed capital and credibility, but also serve as a great lure for skilled talent-pool. The BharatMatrimony group has astutely reaped the benefits of VC funding.
Funding and capital are like oxygen for any
organisation and it could not be any different for the BharatMatrimony group as well. The group kicked off operations in 1997, with BharatMatrimony.com as their first portal. Our online portal started to gain momentum from 1998 onwards, but in the initial stages, we did not look for many funding options because of the business model that we had adopted. We were very clear about that and from the day one itself we have followed a subscription based model, wherein we used to charge around Rs.300 for the subscription. Whatever money we were earning, we were ploughing it right back into the business.
The first round of funding in the Consim Info Pvt. Ltd. (which houses brands like BharatMatrimony.com, clickjobs.com, indiaproperty.com) came from Yahoo! and Canaan Partners, which invested $8.65 million in the group. In this case, it was Yahoo! who approached the group. We welcomed the move as Yahoo! is a global player and we felt that this association would fetch us a lot of recognition. Also in this case, Yahoo! was not just getting money and capital for us, but also becoming a strategic partner in the business. The matrimonial and property services offered by Yahoo! are all powered by the BharatMatrimony group.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
Funding and capital are like oxygen for any
organisation and it could not be any different for the BharatMatrimony group as well. The group kicked off operations in 1997, with BharatMatrimony.com as their first portal. Our online portal started to gain momentum from 1998 onwards, but in the initial stages, we did not look for many funding options because of the business model that we had adopted. We were very clear about that and from the day one itself we have followed a subscription based model, wherein we used to charge around Rs.300 for the subscription. Whatever money we were earning, we were ploughing it right back into the business.The first round of funding in the Consim Info Pvt. Ltd. (which houses brands like BharatMatrimony.com, clickjobs.com, indiaproperty.com) came from Yahoo! and Canaan Partners, which invested $8.65 million in the group. In this case, it was Yahoo! who approached the group. We welcomed the move as Yahoo! is a global player and we felt that this association would fetch us a lot of recognition. Also in this case, Yahoo! was not just getting money and capital for us, but also becoming a strategic partner in the business. The matrimonial and property services offered by Yahoo! are all powered by the BharatMatrimony group.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
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