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Bharatmatrimony In Really Bad Financial State? Starts Downsizing - Fires CMO?
(13 votes, average: 4 out of 5)
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Update: Due to aggressive comments we have closed comments on this post
Ok. The reason for the question mark in the title is because we have been tipped off on a propective downsizing initiative at Bharatmatrimony stating that it is in deep trouble financially. Just 2 hour back we got a mail from a anonymous reader tipping us off that all’s not well in Bharatmatrimony i.e. Consim Info Pvt Ltd.
Here is the email we have received by us:
We have contacted Consim Info Founder & CEO Mr.Murugavel J to confirm the story and this is what he had to say:
“These are just rumors.. Our CMO P Gopalakrishnan has done a fantastic job in the last year and has now decided to move on. We were going to announce this development today morning. Also he would not be quitting before 3 months till a replacement is sought by Consim Info. Also we are the only matrimony company with 2 rounds of funding and we are a profitable entity so all this rubbish about us not having funds is completely incorrect”
On asking him as to who he thinks could be spreading these rumors
“When a company like ours is progressing there are detractors and jealous competitors. We have been seeing such rumors being spread about us for sometime now but it doesn’t bother me as we are doing very well and there is no cause for concern.”
Well the slowdown is surely having its impact even if you take either of the versions to be true.. This is because if a competitor is actually spreading these rumors means that Murugavel is right and the competitors might just have been suffering at the hands of the slowdown and in frustration pulling down competition. Whatever may be the reason the online space is moving towards being a fiercely competitive space and with investors money on the line and slowdown setting in mudslinging and pulling each other down may become common.
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Well, uncanny coincidence. The VP Finance also quits today. And so does one Business Head. Strange to know that the Consim top management is finding better opportunities when the recession has hit the industry and when most companies have frozen hiring.
those who have worked with gopal will know that he is a non-performer… so not surprising.”
don’t know if this is true but the funny part is the ceo’s reply. he is proud of being the only matrimony portal to raise 2 rounds of funding… isnt that a negative sign… it cd mean that others have not required to raise money to grow while they have… go on mister murugavel… raise more and blow it all… also why wd an always profitable entity raise close to 100 crores in under 18 months if it? defies all logic.
It took one year to find out about the performance of the non performer? amazing, what was “canon” ball doing? I think they would not have sacked him earlier, because he came with a bulky severance package (very bulky), finding fee, honda city stays only in 5-7 star and travels business class everywhere. They even compromised the most loyal top management for this guy and when this new team was formed the loyals were ignored and much more. i am sure lot of aluminis would now sing in joy.i am happy when it down and happy when its gone.i am happy, i am happy, iam soo happy.
The heat is now burning the dotcoms in India which tend to term themselves as LEADERS in everything. ha ha ha The TRUTH is out!
huahhhhhhh…..bbye, gopalji.
there’s a marketing executive position available in a startup based in kolkata….r u keen on it?
Yes. I agree with janakiram after cmo has joined they have got 200% growth that they are looking for 3rd round of funding as i heard. and, they have done offline campaigns with cmo and his team that had taken market by storm. There is a whole team of high value branding gurus who have joined with cmo not sure if they would be kept for another 1 year to make consim the number 1 internet company by 2009 (this keeps moving year on year). There are many revenue streams in consim which are unmanagable because of high profitability and huge turnover. like apnaloan, indialist, indiapages, desimatch, new news paper, carportal, clickjobs, with the new look and feel. i am sure cj would prove a threat to monster and naukris of the world.there is nothing less than first with the consim group. all the best.
huahuahuahuahuahua…..bbye bbye, GOPI.
your sales background didnt do well in BharatMatrimony.Com “”tera dana yehna nahi galta” hurry up pack yur bags go to bangalore u will get good jobs in marketing atleast an executive position will be available - if not your marketing representative frienda will help u u.
Looks like this velmurugan is one of the tech team pet that company has raised for several yrs.What did u say in ur comment
1)”Whole team of High value branding gurus” :where did u pickup that term.Philip kler,trout,ries would commit suicide….on hearing this term
2)After CMO joined 200% growth:yes definitely but ‘Downwards growth”.
3)Revenue streams unmanagable because of high profitabilty:))))Which are the streams?Cj is shut down,desmatch shutdown,indiproperty is going no where,Bharatmatrimonial was nowhere shadi,simpmarry,jevansthi have 85% market share.AND STIL ..HIGH PROFITABILITY?????Mr Velmurugan pls giv the readers a break
BUT ONE POINT I AGREE IS THAT ..YES NEEDS 3RD ROUND OF FUNDING.4TH,5TH,6TH…..OR ELSE HOW WILL ONE AFFORD TO GIVE HONDCITY ,CLUBMEMBERSHIPTO USELESS CREATURES ON EARTH
No competitor blames please - even if this is rumor why sack CMO, why the hell he move Murugavel acting too smart now. Nothing to do with recession no-performer will be given brickbats whre ever he goes.
Poor chap Gopal- company asking to quit with in DEC 15 is sad.
He sould have given one more chance to-no-perform.
Consim guys dont have patience.
Mr CEO
pls reply
Why did you sack “These 4 people”
1)Raaaju”Dataabus share” ban gaya gentleman-Pakadagaya
2)Shubbbb “amangal” office primise -Aree Pakadigaye
3)HRere Paulll ” carpuling” “go karting” inside office -Pakadagaya
4)Bhaaaaarat”Delhi Darshan” -Pakadagaya
Oh man is this a company or some PANSHOP.
guys please do some cost cutting in CONSIM, or else except CEO eveery one will be fired pull up ur socks it high time dont depend on funds no point in raising funds every now & then, it too much take a break , focus on your breadwinner Matrimony portal, dont let it make the same as ur other consortium of portals are head-ing
Nothing to worry another Gopal will join very soon & will be fired very very soon…………
They will get another round of funding (of at least 30-40 crore) and all problems will be solved
Looks like flusing the system started, atlast Consim took the right decision, what it wonders me is the time taken to take such a decision, How a company could afford to pay fat salary with all frills for one full year to only realise that it was a wrong hire.
One small request to Muruga is to trust loyal guys, who had proven their capability and never foget them when a new guy with fancy qualification come on board.
All the Best!!
Wow…looks like some guys just can’t handle a success story! Take a look at this…
1.Comscore India usage report 2008 that puts bharatmatrimony among the top 50 sites. Apart from Naukri it is the only Indian vertical featured there.
2.Check out Alexa.com, bharatmatrimony is right up there most of the time.
3.PC World rated the company as the best tech portal in 2008 and I think Nasscomm also put them on their IT Innovators list too
4.Murugavel himself has won a slew of awards apart from getting some very savvy investors at supposedly pretty good valuations.
I am sure that investors such as yahoo and Cannan will not invest a single pie and that too twice if there is no promise.
Most of the above comments show their enmity.AWellWisher & VedPrakash comments hav some useful infos, I appreciate them.
Well wisher
I did not know comscore and alexa ranks the organisation on their profitability or organisational behaviour.
There are so many people who win awards, that does not mean they run successful organisations.
Till the time there is a nosedive the award coucils would not realise whom they were awarding, they do not award by closely monitoring the management skills or profitability or any of a qualifying factor (only in certain prestigious awards). Some of the major factor could be availability, designation, brand, and sponsor or future business.