Jobsites make losses and Matrimony gets fined!
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Well its interesting to see that despite the internet boom which according to many analysts is here to stay companies are making losses. Though you might argue that profit is not really a measure of the potential of a segment (think youtube buyout by google) but still its surprising that something as revenue generating as e-recruitment has loss making players especially the one’s who have reasonable funds and muscle power at their disposal. Specialty media house CyberMedia Ltd saw its net profit go up by 16 per cent to Rs 23.1 million from Rs 19.9 million in the second quarter of FY2006-07 due to higher revenues but the company absorbed loss of Rs 14 million in the Job Board business. Well now that Naukri.com is issuing the first public offering for a Job site in India it is to be seen how the sector develops.
If Jobsites are making losses matrimonial sites are getting fined! Online matrimonial service BharatMatrimony.com has been directed by a consumer forum to pay Rs 15,000 as compensation for failing to provide a list of suitable profiles to a consumer as per the contract.
A Delhi-based doctor had entered into a contract with Bharat Matrimonial Commercial Pvt Ltd, which operates a portal for providing matrimonial services, for suitable matches for his son and daughter but in his complaint he said that the profiles were not sent to him through e-mail as promised and he was left to search for a suitable match on his own.
Hence accepting the doctor’s arguments, North-West District Consumer Forum of the city held that the portal was liable for "deficiency of service"! Wow this makes me think portals like jobs, matrimony and travel have to really pull up their socks because false promises and non-delivery could probably worked in the year 2000 but 6 years later it about time internet owned up to being responsible!
(Source - Daily News & Analysis and NDTVProfit )
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