 Hello and welcome everyone. We have today with us Murgavel Janki Raman who is the founder and CEO of matrimony.com. Matrimony runs several online brands such as Bharat Matrimony, Community Notomany and Elite Matrimony. Thanks for joining us Mr. Janki Raman. Thank you for having me. Mr. Janki Raman you were working in the IT sector in the United States. Then how and when did the idea of matrimony take shape? It was in late 90s. I was working as a consultant in the US. During the time you know that there were frenzy in the startup community. There are so many portals and e-commerce companies were created during that time. That was the first wave of dot com boom. So I was good in my programming skills. I come from a humble background. But once I settled in the US in terms of making a decent money as a consultant, there was an entrepreneur in me who started showing his signs. I wanted to do something on my own. I was not sure where to begin. Since I came from Tamil Nadu, so I wanted to do something targeting a Tamil community living outside of India. Okay I thought let me provide various services which would be useful to the Tamil community. I was working as a consultant in the daytime and during my evenings and you know on the weekends I was building a Tamil community portal. Providing various services which I thought would be useful to the Tamil community. Things like Tamil calendar, festival remainder and Tamil friends, discussion forum and matrimony was one such service as part of the Tamil community portal. When I saw where people were coming for the matrimony section of the Tamil community website, I realized there is an opportunity to launch exclusive matrimony service. Because at the end of the day, the Tamilian wants to get married to a Tamilian. Okay that thought process led to launching a exclusive matrimony site for various language speaking people in India. Initially I wanted to do only Tamil matrimony. Then finally I decided to launch matrimony service for all the people in India. But again the approach we took is not single brand. We took a multi-brand approach because everything originated from Tamil community website. So we launched Tamil matrimony, Telugu matrimony and then Marathi matrimony, Punjabi matrimony. And we wanted to give the umbrella brand that's why the Bharat matrimony came into existence. So thankfully I was also laid off post the dot com bubble bust. So that gave me the opportunity to get full time into the business. And then I moved back to India in 2004, then no looking back. So basically, yeah, so without having an idea to an idea, the idea became a passion. I mean I was so passionate about the idea and the passion today has become a purpose. So my journey has been from no idea to an idea to a passion to their purpose actually. What is the purpose of matrimony.com? Today we are in multiple businesses. The purpose of matrimony.com to build a better Bharat through happy marriages. The future of the country depends on its citizens. Good citizens come out of good parenting. Good parenting possible in the happy marriage and you want to be the gateway to the happy marriage. So to put a simple single line to build a better Bharat through happy marriage that's a purpose. So my journey has been from that's why they can have you know, I call myself as an accident to an entrepreneur. Not really a thought of an idea and over a period of time, the idea got germinated. Then idea become passion then become a purpose. What a beautiful purpose you have. So what were your major challenges in the beginning, including the funds? See the major challenge initially that I did not even have an idea. Okay, I was so passionate to building the Tamil community website. I remember initial days look, you are just building this website where there's no revenue at all. I just so passionate about this whole thing because I'm happy that people are coming to my website and using the services. Initially, the challenges were opposite as bootstrapped. My initial investment was $10 per month and during the, I know before I was laid off, I was invested almost $1,000 per month. That was my maximum investment in a per month. After that, the business becomes self sufficient because when it's a mood of full time in the business, we're able to generate revenue because it kept as a paid service. And we raise only limited fund when 2006 and 2008 in the two rounds, what do you raise in between the 2006 and 2008 is around $20 million. Even the $20 million, what do you raise concern? The most of the money literally would say they're almost all the money went up a new venture because we launched various vertical that part of time. And so if not the matrimony.com actually literally was built without any capital. What are the challenges, multiple challenges, raising money, getting, you know, obviously it was bootstrapped. We are tightly managed that the entire growth and attracting a talent was a challenge at that point. We were talking about way back in 20 years ago that today's startup community is thriving and you know pretty so much of success. It was not the case 20 years ago. Attracting talent was a challenge. More importantly, our category paid on peculiar challenge. People, some of the people did not want to associate the matrimony company said it's a marriage broker company, it's a technology company. But somehow they know they are that the mind said, okay, I'm working for a marriage broker company to it's a tech company. So we had some challenges also know attracting talent also was challenge. So, and again, as a first time entrepreneur, I didn't have all the expertise or to run the business. It's not that today there's so much of ecosystem support system, many things available. The many things was not ever. In fact, for me, everything was a learning, because from the all aspects from HR, finance, marketing, and everything. And so I went through various challenges over a period of time learned many things, made mistakes, and in the process, I was shipped. So today, definitely I would say that doesn't matter how big the business become, I have the ability to manage the business. But I went through various challenges from from funding to attacking talent, the category, and I don't do not have the required expertise to manage the business. There are some challenging moments also Piat. So it was a tough challenging, some tough situations, nobody's actually overcome those challenges, it further strengthen me and shaped me and sizzle me. So yeah, multiple challenges. When did you actually realize that your business is now stable from 2004 on? I would say that one time I thought the business, you know, because the most of the money was invested in the marketing. And, and because this business has economics of scale, but at a certain point till the decision second point of time, I was spending more money began to marketing and we didn't look at the point. But over a period of time brand becomes so strong today, majority of the profile acquisitions are organic. I know the probably I would say that from 2008. Now, till 2006, it was bootstrap, we are just growing at a certain pace. I think opposed to also fun funding and 2009 went to a most challenging situation. And where the global crisis happened, a global recession that point of time. And I think I went to a challenging period almost for close to nine months, I think that was a turning point, since the no looking back actually I'd say that. How has the Indian marriage market evolved over the past two decades? So Indian marriage market has evolved in the sense that initially, we look at maybe that years ago, the parents were in the driver's seat. And in the absence of online matrimony, prospective brates and groom limited by the choice, what they're able to get through to their friends and our relatives or the reliance on other mediums where I believe those mediums are able to serve only limited alliances. So online matrimony sites are done, it's going to empowerment to the woman. Okay, today women are not restricted by limited charge what the parents are going to bring. Also last couple of decades, what has happened, the parents who are in the driver's seat. Today they become the passenger seat. Today who are in the driver's seat, it is a prospective bride and groom in the driver's seat. Okay, thanks to the online matrimony site to give the empowerment of the woman, also advantage of technology, and India also has a progress. So I say that from the parents, from the friendship to the backseat, the young, the prospective bride from the back to the driver's seat. And as I said, it has given empowerment to the woman. And it has changed the way the people look at life partner from one of the last, one of the, one of the choices are the last choice initially when you started we find in this category. Today it has become the primary choice for people to find a life partner. There are multiple ship, the category become the preferred mode medium, where the people looking at life partner has changed and so. COVID has affected many businesses over the past two years. How did it change your approach business and also strategy. Definitely COVID has accelerated the digital adoption in India, which everybody knows. Definitely the video today we're having into the video. Okay, today definitely video adoption has been one of the significant things happened during the COVID. So we did launch a video profile video calling feature. So today, because people are today comfortable, you know, doing everything through the video we launched that feature. And as I said, the digital adoption has taken place. And so, but our category did not face any serious impact because of COVID on the contrary, because of the reason they said, you know, digital adoption, we saw good search, doing the first wave of COVID. But the people coming to office where what was impacted. However, the number of people signing up for the matchmaking platform that really gone up during the COVID period. So it become normalized now, but we saw that adoption. So I think in a way that COVID has accelerated digital adoption, digital usage in India. And so all this thing going to be a beneficial for this category in the long run. What could have been the possible reason behind this increase in number of subscribers, you know, apart from pandemic. Was there any social, you know, reason? Yeah, so see, when when when people are going in normal situation when people are going to office or you know they have the other social life. And during COVID time when people are constrained and they're not able to go out. Okay, then you know, when they're working from home, and people are not able to do other things. Obviously, the marriage with other ways for some people, some people who otherwise, you know, maybe in the back of the mind or probably they would have got delayed. Accelerator advanced. So I think that has pushed the number of people signing up for the matchmaking platform. So now we are seeing the third wave of pandemic which came all of a sudden no one was expecting, you know, about this way. How has this affected your ventures like mandem.com and wedding bazaar, which are into I guess event management kind of. Yeah. Contrary to compare to the last two, you know, two waves, I think, I think today they will even know that this is going to be a short one and a mild one anyway, because the number of people to go to hospital is very less money and the expert is going to over in a couple of weeks. So definitely, there is an impact because doing that. At the early stage of COVID-3, you know, there's some other government unknown that you know, when you set a number of people can attend wedding and all that it did have some impact. However, the wedding services contributes a small part of our business. So this impact may be a month or two, and in a small part of our business knitted overall matchmaking business obviously it's doing fine. So, you know, it's a temporary and we expect to bounce back soon. What are the largest player in the matchmaking segment with two main competitors, I guess, Shadi.com and JeevanSathi.com. So do you have any plans to acquire them? No, we definitely have a 60% market share with our largest players in this space. And, you know, if there is opportunity that we may consider. Okay. We have solid plans to grow this category. And if you look at the last four quarters, we have been growing at the consistency double the growth we have been growing. And it's not in the case with other players. So I think, as a, it's not really category leader, and we have a sufficient levers and plans to continue to drive our growth. Opportunity you may consider, but that's not going to be the primary thing. Yeah, we can evaluate it in the opportunity. The pandemic has also seen, you know, the changes in the ad spend, you know, not many brands, they are spending more on digital platform. Since your venture is already on the, you know, online sites. So how does it impact your ad spend? One thing that's not really for us, I think everywhere there is a shift in spending. We are one of the largest vendor we spend almost close to a 40 crore or 160 crore that's a kind of ad budget value of a per year. So the predominant top the most of the budget is spent on TV, but over a period of time you are shifting the budget to online. But still at this point of time, still still dominate our marketing spend. However, they're definitely a clear shift from offline into online that is happening. We would also like to know your own manager story. I found my life partner through matrimony.com, Bharat Matrimony. I was looking for a life partner based out of Chennai or Tamil Nadu. Probably someone speak Tamil and someone from engineering background and I was at another expectation as well. Eventually got married to someone who was born and brought in Gujarat, though Tamilian and it's interesting story. I was looking for a life partner and it was my father in law who had created a profile of my wife and initial correspondence was with father in law. His first expectation was send your horoscope, only if horoscope matches then you are allowed to talk to the girls. Thankfully it matched, happily married for more than 21 years. It's one of the early marriages, meaning the same through matrimony.com. As I said, I had certain expectation, but the person who got married is complete opposite of my expectations. Not born and brought up in Tamil Nadu or Chennai, not an engineer. In fact, my expectation at age was three years or four years younger. My wife is seven years younger. I give the example to people looking for a life partner. I have the clarity between what is a must and what is preference. The thing about I want a person from Tamil Nadu or engineer or three years younger, all preference, not a must. But I wanted a person from a good family, someone supporting my entrepreneurship. That is a must for me. So when people are looking for alliance, we should have the clarity between what is a must and what is preference. Sometimes people don't have the clarity of what is a must and what is preference. So happily married for more than 21 years and one of the early success stories of matrimony.com. Have you analyzed on your portal that what is the biggest deciding factor in a matchmaking? The deciding factor varies from men and women. So what men expert is that they want to, the girls send up pleasantly looking and from family, which is kind of good family. That's what the primary expectation from men. Obviously degree holders, that's an expectation. On one or another side expert, the men were settled. And the income or what kind of job they do. I think those are things become the primary deciding factor. What men expert is different than what women expert. Probably they look for the guy who is kind of caring, loving. But definitely their financial thing or job and income is all one of the important things. What are your plans for future expansion or maybe any new venture? Expansion plans, we already expanded into Bangladesh. We want to take the success of matrimony.com to the global South Asian market. We are one of the leaders, sorry, we are the number one players in Sri Lanka as well. We are in the process of setting our operations in Sri Lanka. We are Muslim match.com, which is for the global Muslims are looking for alliance. And you have a country specific on Muslim matchmaking often like Malaysian Muslim match, Arab Muslim match. You have various such offering plus wedding services, you know Mandab.com, WeddingBazaar.com. We consider ourselves a global wet tech company. That means global matrimony, global matchmaking services, plus also wedding services for India. As you progress, you may expand into wedding service in other market as well. But India is a very good opportunity for wedding services. So expanding our offerings and matchmaking to the global market and capturing the opportunity in the Indian wedding services market. Thanks Janki Raman. Thanks for taking time out to speak to the stage for me. Thank you very much. Thank you. Thank you for the opportunity.