City-based matchmaking firm goes public with IPO; to raise Rs 500 crore

Citing a KPMG report which pegs the marriage market to be $54 billion, he said there were about 107 million unmarried individuals in India within marriageable age bracket in 2016 (18 to 35 years for females and 21-35 years for males). It is estimated that 60.5 million marriages will take place in the country from 2017 to 2021.

“As one of the first companies to provide online matchmaking services in India, we believe that we have an early mover advantage among consumers seeking online matchmaking services. As of June 30, 2017, we had a large database of profiles comprising 3.08 million active profiles (being profiles that have been published or logged in at least once during the prior 180-day period, which we believe creates a network effect that attracts more users to register or subscribe through our websites, mobile sites and mobile apps and also results in higher customer engagement,” he said, adding the growth strategies related to the conversion rate of the profiles with an average transaction value (ATV). 

Incidentally, the ATV from an annual figure of Rs 300 at the time of starting the company had now breached the Rs 4,200 mark. 

With the marriage services industry in India estimated to be Rs 3,681 billion, the company is also eyeing its revenue to swell from services such as catering, venue, photography and videography.