Indian Internet market is evolving. Not just in the number of players and services offered, but also in the number of verticals, genre and innovation. Mergers and acquisitions are a part of this process that shapes the market as a whole. One major development took place recently when Bharatmatrimony sold the majority stake held in clickjobs.com. The company Matrimony.com (formerly known as Consim info pvt ltd.) also owns classifieds other than bharatmatrimony.com; like indiaproperty.com. Clickjobs.com was acquired in July and was sold very recently as the group wants to focus on their primary business, i.e. property and matrimony classifieds.
After struggling to bring the business to its feet and searching for all kinds of remedial measures like financial partnership and a new business model to excel the usage and penetration of the website’s core operations, the company finally gives in and sells.
Last year, Internet company Yahoo! had exited Matrimony.com by selling its 12 per cent stake to Bessemer Venture Partners, Mayfield Fund and Canaan Partners. The major business of matrimony.com comes from niche matrimony classifieds like muslimmatrimony.com and christianmatrimony.com. Consim Info CEO, Murugavel Janakiraman says that there is no point staying in a business sector and operate as number four. He says clickjobs.com had competition from timesjobs.com, naukri.com and monster.com.
Mergers and acquisitions have been as old as the market itself and by the virtue of the volatility that accompanies an internet based business, its rampant in today’s market. Times internet acquired Men’s XP. Times of India sold its stake in Times of money. MakeMyTrip acquired a majority interest in Thailand’s ITC group and many more that happened very recently. This indicated to two very apparent market trends to the observant mind. One- Indian internet entrepreneur has woken up to the existing competition (as internet has no borders) and is employing active effort to increase its reach. Two- Indian businesses have marked its presence in almost every online business that exists and also in the one’s which haven’t been explored so far.
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