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<ul><li>This arranged marriage concept has also led to prosperous businesses – <keyword id="260777" type="COMPANY" weightage="20" keywordseo="shaadi-com">Shaadi.com</keyword>, <keyword id="393347" type="COMPANY" weightage="20" keywordseo="Bharat-Matrimony">Bharat Matrimony</keyword> and <keyword id="530627" type="ORGANIZATION" weightage="20" keywordseo="jeevansathi-com">Jeevansathi.com</keyword> among others. </li><li>These platforms that took the arranged marriage setup online many years ago, came up with new solutions – video call meet-ups and zoom call weddings. </li><li>Potential bride and grooms are now meeting each other for the first time over a video call. </li></ul>The Indian culture has always seen arranged marriages – where parents look for the suitable partner for their ‘of age’ children. From Shaadi.com, <keyword id="9477581" type="COMPANY" weightage="20" keywordseo="bharat-matrimony-to-jeevansathi-com">Bharat Matrimony to Jeevansathi.com</keyword>, the online platforms that help people find the best match for themselves, took a hit as weddings came to a complete halt due to the restrictions for gatherings. But these platforms that took the arranged marriage setup online many years ago, came up with new solutions – video call meet-ups and zoom call weddings. <div type="Article" hostid="261" msid="75242402" title="This couple just had a big fat Indian ‘wedding from home’ over a Zoom call" mstype="2" mssubtype="0"></div> Potential bride and grooms are now meeting each other for the first time over a video call. Shaadi.com launched Shaadi Meet – a video calling feature on its platform on June 19. Within two days, 105,000 people had used the feature. “In the times we are living in, virtual meetings have become the new normal. As we are physically distancing, we have become socially closer. Shaadi Meet stands testimony to our singular purpose of improving the matchmaking experience of our members and empowering them to take control of their destiny,” said Anupam Mittal, founder and CEO, Shaadi.com. The platform has also launched ‘weddings from home’ for online marriages. A similar hike in website traffic was seen by its rival – Jeevansathi.com. The company which had launched the feature even before coronavirus (in January) saw that the website saw a 60% hike in the number of voice and video calls in the lockdown period as compared to the 11-week prior average. “Nation-wide lockdown has resulted in heavy dependence on technology and the internet. The website witnessed a surge in the overall traffic during the social-distancing period. With most public places temporarily closed, people are finding more virtual ways to connect with each other more than ever. Our video/audio calling feature allows them to connect without exchanging personal phone numbers,” said Rohan Mathur, business head at Jeevansathi.com Safety first Keeping safety in mind, Shaadi.com allows users to set their convenient time to receive a Meet Request and can also decide who can invite them for a Meet. Meanwhile, Bharatmatrimony which launched the feature on June 18, kept it exclusively for <keyword id="9477582" type="COMPANY" weightage="20" keywordseo="premium-members">premium members</keyword>. But they also took several steps to ensure that women don’t get crank calls. “Women’s safety has been accorded utmost priority and they can only receive video calls from Premium Members they contacted or responded to earlier. On the other hand, men can get video calls from any premium women member and will be able to call only women members who responded to their earlier inquiry. Both male and female members will have privacy options wherein they can specify who can initiate video calls with them,” the company said. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/what-ceos-say-india-can-learn-from-china-to-get-more-electric-vehicles-on-the-road/articleshow/76669260.cms">What CEOs say India can learn from China to get more electric vehicles on the road</a> <a href="https://www.businessinsider.in/careers/news/work-from-home-has-brought-with-it-a-new-set-of-problems-with-endless-calls-and-works-hours/articleshow/76637605.cms">Work from home fun is over – now there are endless work hours, midnight calls from bosses and employees are not happy</a>

India's matrimony portals come of age with video calls and zoom call weddings

Parents seeking to get their daughters married are no more interested in IT engineers. Earlier techies were a ‘prized catch’ in the marriage market, thanks to their job security, fat paychecks and potential to settle abroad. Of late the sector is going through a lot of turbulence with job instability. Not just rampant layoffs, <keyword id="6354862" type="PERSON" weightage="20" keywordseo="Trump">Trump</keyword>’s strict policies on immigration has shut the door for future NRIs and most importantly automation would eat up a lot of jobs have affected the marital status of lot of budding techies. "We have also simultaneously seen that the number of women looking for life partners in the US has been declining rapidly, especially since November," Gourav Rakshit, CEO of <keyword id="40561" type="ENTERTAINMENT" weightage="20" keywordseo="shaadi">Shaadi</keyword>.-com, one of India's biggest matrimonial websites told <keyword id="6474066" type="COMPANY" weightage="20" keywordseo="economic-times">Economic Times</keyword>. Indian women are more likely to relocate after marriage, which is why prospective grooms have been hit harder by the change in perception about IT. At Shaadi.com, about 7% of women are looking for prospective spouses in the US. The number has been on a steady decline because of a broader trend, Rakshit told ET. Opportunities in India have been growing consistently and women today are more hesitant to disrupt their careers and lives to settle abroad. "However, we have seen a sharper decline in November (11%) and February (15%)," he said. Rohan Mathur, senior vice-president at <keyword id="1518942" type="UNKNOWN" weightage="20" keywordseo="Jeevansathi">Jeevansathi</keyword>.com, told ET that US-based prospects, there's a marginal dip of about 2% in interest (for marriage) received in recent months. "But it's not a sharp drop as one might have expected considering the talk over IT job cuts.”

Techies are no longer sought after in Indian marriage market

New Delhi [India], May 16 (ANI): <keyword id="9766785" type="General" weightage="100" keywordseo="Lok-Sabha-elections-2024" source="Orion">Lok Sabha elections 2024</keyword> have seen a <keyword id="20108198" type="General" weightage="20" keywordseo="voter-turnout" source="keywords">voter turnout</keyword> at polling stations of about 66.95 per cent so far, as approximately 451 million people have voted during the first four phases of ongoing general elections. In a bid to encourage voters to exercise their franchise in large numbers, ECI has enhanced its targeted interventions to reach out to every eligible voter. The Commission led by CEC Rajiv Kumar along with ECs Gyanesh Kumar and Sukhbir Singh Sandhu, further directed CEOs of the states going to poll in the fifth, sixth and seventh phases to timely distribute voter information slips to all electors and enhance outreach activities. "Commission strongly believes that partnership and collaboration are essential pillars of the voter awareness programme. It's heartening to see that, at the Commission's request, different institutions, influencers and celebrities with significant reach are working enthusiastically on a pro-bono basis," Chief Election Commissioner Rajiv Kumar said. Further, he added that a higher voter turnout would be a message from Indian voters to the world, about the strength of Indian Democracy. He urges all the voters to cast their vote in huge numbers, as voting day is not a holiday but a day of pride, by participating in the festival of democracy. According to an official release, various <keyword id="21686177" type="General" weightage="20" keywordseo="voter-awareness-drives" source="keywords">voter awareness drives</keyword> and campaigns have been carried out by stakeholders in collaboration with ECI. Telecom Service Providers such as Bharat Sanchar Nigam Limited, Bharti Airtel Limited, Jio Telecommunication, and Vodafone-Idea Limited are reaching out to every mobile user in the respective parliamentary constituency through push SMS/Flash SMSs, outbound dialling calls to mobile users, RCS (Rich Communication Services) messaging and WhatsApp messages/alerts. These activities are carried out two/three days before the poll and even on the poll day, in regional languages, with an appeal to vote. ECI has collaborated with BCCI for voter awareness activities during the ongoing IPL season. The voter awareness messages and songs are being played at different stadiums during the cricket matches. The most innovative aspect of this campaign is the administration of voter's pledges by cricket legend Sachin Tendulkar in a pre-recorded video message, at various IPL venues. Further, voter awareness messages are integrated into cricket commentary. Cricketers from 10 IPL teams have encouraged voters to participate in the <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> elections in 2024 with their recorded voter awareness messages. A voting day alert was sent to all Facebook users pan India to inform and inform the voters about the general elections and to nudge them to participate in the festival of democracy, the release mentioned. The release further stated that WhatsApp personalised messages have begun on polling day. Google India is contributing through its iconic feature of Google Doodle on poll days and banners appearing on YouTube, Google Pat and other Google platforms. The Retail Association of India has been actively engaging with voter awareness activities, through their retail network, whereby retail chains are encouraged to celebrate the election as a festival. The vast network of post offices and banking institutions was utilised by ECI to reach out to a wide and diverse audience across the length and breadth of the country. In collaboration with the Ministry of Petroleum and Natural Gas, the parliamentary elections campaign logo "Chunav ka Parv, Desh ka Garv" has been integrated with the IRCTC portal and tickets. Voter awareness announcements have been integrated with the public address system at all railway stations. The logo stickers are used on coaches of the superfast trains. In collaboration with the Ministry of Petroleum and Natural Gas, hoardings on voter awareness have been installed in about 16,000 retail outlets. In collaboration with the Ministry of Civil Aviation, airlines are making an inflight announcement with an appeal message to participate in the ensuing elections. Voter guides are being kept in aircraft seat pockets. Apart from this, many airports are providing space for the display of voter awareness messages. Selfie points have been installed at airports in 10 major cities viz. Delhi, Mumbai, Kolkata, Bengaluru, Hyderabad, Ahmedabad, Lucknow, Patna, Chandigarh, and Pune. Cinema theatres across the country are playing ECI voter awareness films and ECI Song Main Bharat Hoon, Hum Bharat Ke Matdata Hai, at regular intervals, as a part of the Public Service Awareness (PSA) film. Sansad TV is creating short films on Unique Polling Stations set up in remote corners of the country by the election machinery after navigating difficult terrains to demonstrate the challenges in ensuring voting at the last mile. AMUL, Mother Dairy and other milk co-operatives have started branding their milk pouches with the message 'Chunav Ka Parv, Desh ka Garv' and encouraging voters through social media platforms. AMUL is also encouraging voters with its unique messaging through AMUL Girl Topical advertisements in newspapers. Prasar Bharati: Doordarshan has produced, various short films, including appeals from constitutional functionaries like President of India, Vice President of India, and Chief Justice of India, among others. Further, unique polling stations are being covered by the regional Kendra's audio-visual documentation. Music App Spotify is running a campaign called 'Play Your Part', and they have issued print advertisements, and curated the playlists for the elections, on their app. Payments app PhonePe has integrated voter awareness message into their app and is actively encouraging voters. BookMyShow has launched an integrated campaign, titled "Aaj Picture Nahi, Bigger Picture Dekho," to raise awareness among voters. MakeMyTrip is running a campaign titled 'MyVoteWalaTrip', whereby discounts are offered to citizens going to vote. Food delivery platforms such as Zomato and Swiggy are disseminating voter awareness messages through their platforms and social media activities. Grocery App Blinkit changed its logo to "Inkit" for the elections, incorporating a message encouraging people to "Go out and Vote" as a tagline. Uber India is reaching out to voters through multi-channel messaging (in-app, emails, push notifications), offering discounts for rides to polling stations, and amplifying voter awareness messages on social media platforms. Bike app Rapido has been encouraging voters with a free ride to vote. Urban Company has launched 'I Have Voted Campaign' to encourage voters. Tata Neu app, serving as the Tata Group's group-wide consumer-facing mobile app, prominently features the "Cast Your Vote" animated banner on its homepage, with additional initiatives currently underway. Truecaller is enhancing its layout by displaying voter awareness message during outbound calls Some other independent initiatives are Mankind Pharma #VotingVirgin campaign, clothing brand Neeru's "Vote ki Taiyaari" TVC, Tinder's "Every Single Vote Counts" campaign, creatively curated social media post by Matrimonial sites like Jeevansathi.com, etc and discounts for voting by popular brands such as Shoppers' Stop, MakeMyTrip, Chroma and many more. Four phases of Lok Sabha polls have been held and the voting will conclude on June 1 with results on June 4. The remaining phases will be held on May 20, May 25, and June 1.

451 million voters! First four phases of Lok Sabha elections witness 66.95% voter turnout so far

<ul><li>IT companies may not be hiring talent as slowdown curbs growth, but employees continue to search for jobs online. Naukri’s monthly active users at 12.1 million. </li><li>Cricket continued to give a boost to online food ordering apps in March. Daily active users online continue to increase month-on-month. </li><li>Despite the popularity of dating apps, young Indians continue to frequently visit online marriage portals and apps to find their true love. Matrimony apps see a jump in monthly and daily active users in March. </li></ul>On the face of it, there may be little or no connection between the white willow and online food ordering, but data shows that women in blue made Indians rather hungry in the month of March. And yes, most Indians also are as keen on marriage as ever, with matrimonial portals continuing to see higher month-on-month user metrics and app downloads. Three years after the pandemic struck, Indians are still addicted to their apps and are still looking for their dream job, if they are not planning their next vacation. From ordering food online to looking for jobs and homes online, Indian consumers are not putting the brakes on their online purchases just yet, even after the economy opened up completely post the lockdowns. App downloads continued in March as did higher monthly traffic across key consumer tech platforms. In the month of March, monthly and daily active users continued to surge across apps catering to consumer needs like online food ordering, travel, property rentals/purchases, groceries or even jobs. Yes, job searches have seen an unprecedented surge in the month of March shows data from Sensor Tower’s monthly data print. Leading technology services players may have slowed down on hiring, but employees are still flocking to job portals. According to a report by Bank of America, Naukri maintained its totem pole position in MAUs (monthly active users) with 12.1 million (+7.2% month on month) users and witnessed increase in daily active user base at 2.1 million (+6% MoM) in <keyword id="10294782" type="General" weightage="20" keywordseo="march-2023" source="Orion">March 2023</keyword>. LinkedIn has the highest DAUs or daily active users at 3.7 million and is a clear leader in terms of user retention at 33% followed by Naukri at 18%, says the report. Data shows that consumer apps have continued to see good traction in the month of March 2023 compared to February. What consumers have been interestingly visiting less frequently —- are the beauty apps like Nykaa and Purplle — whose traffic is down month-on-month. Beauty brands believe that omnichannel and physical store visits are the reason for the decline in online purchases. Food delivery &amp; grocery continue to see demand According to Bank of America’s India Internet report, a majority of online food delivery apps saw an increase in fresh app downloads and user metrics, while Swiggy saw a marginal decline in fresh downloads. Online food delivery apps launched special match day games to increase engagement, which resulted in higher ordering too. While Zomato launched ZPL prediction, Swiggy launched Match Day Mania. Not surprising that monthly active users of Zomato and Swiggy grew 4.9%/4.6% MoM to 53 million/35 million. Daily active users for both Zomato and Swiggy increased 2-3% MoM to 6.1 million/4.4 million, respectively. Domino’s Pizza continued to be third in all metrics. Swiggy showed a higher retention at 13% vs Zomato at 11%. Real estate continues to be hot property online Housing continued to see the highest online traffic, as searches for rented and ownership continued to jump. Both monthly active users and app downloads were healthy for online players. Monthly active users increased sequentially for all the apps catering to housing, while daily active users grew for 99acres and Housing. Traffic on Magicbricks remained stable. Monthly active users on 99acres MAUs witnessed steep growth +14.3% compared to February. In terms of user retention, Housing continues to lead at 11%, followed by 99acres and Magicbricks at 9%. Revenge travel is still a big deal With the onset of summer, consumers are planning their next trip, which has resulted in strong traction for online travel apps like Cleartrip and Makemytrip. User metrics improved for Cleartrip, GoIbibo and MakeMyTrip; while Yatra and EaseMyTrip witnessed a decline, says Bank of America. MakeMyTrip monthly and daily users inched upwards (+9%/4% MoM) ahead of the upcoming summer holiday season in May/June 2023. Cleartrip MAUs/DAUs both grew 44.8% MoM to 1.3 million /0.1 million, respectively, majorly driven by launch of bus services in over 90 cities and various offers like zero convenience fees and flat 10% off on all bus bookings. MakeMyTrip continues to be the leader in MAUs, DAUs and retention; with 15.8 million MAUs/1.5 million DAUs while Goibibo has 8.5 million MAUs/ 0.7 million DAUs. High five for fashion apps As social distancing has given way to more contact intensive interactions, demand for fashion apparel has also increased meaningfully. Consumers continue to look for bargains online and Ajio’s All Star sale has delivered the numbers. According to data, Ajio’s monthly active users showed a sharp increase sequentially as downloads of the app increased. Ajio’s MAU/DAU base rocketed 22%/26% sequentially. Myntra/Nykaa Fashion’s MAU base improved 3% MoM each while DAU base saw a slight 1-2% decline. In terms of user retention, Myntra is at 17% followed by Ajio at 16%, says the report. Marriages are forever Young Indians continue to look for their perfect partner. User metrics and downloads witnessed an increase across all apps. Shaadi.com continued to be a leader with monthly and daily active users at 9 million/2.9 million, respectively in March 2023. Jeevansathi’s monthly numbers grew 13% month-on-month, while daily users increased by 8% compared to February. BharatMatrimony user metrics remained largely stable. Jeevansathi has the highest user retention at 34% followed by BharatMatrimony at 33%. SEE ALSO <a href="https://www.businessinsider.in/stock-market/markets/news/-some-sectors-will-benefit-from-lower-energy-prices-in-fy24-a-balasubramanian/articleshow/99722850.cms">Earnings to remain volatile in FY24, but some sectors will benefit from lower energy prices, says Aditya Birla Sun Life MF’s CEO A Balasubramanian</a> <a href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms">Zepto preps for public listing in 2 years; Brings in Ramesh Bafna as CFO to lead IPO process</a>

Consumers continue to throng apps in search of Roti, Kapda & Makaan, March sees healthy user metrics and app downloads

<ul><li>As startup layoffs continue, Mobile Premier League and FrontRow fire 245 peopleInfo Edge has lost ₹9,491 crore ($1.2 billion) in its investment in tech startups <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> and <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword>.</li><li>The market cap of both the companies have fallen significantly as the Indian stock market undergoes sharp correction.</li><li><keyword id="80004" type="General" weightage="20" keywordseo="info-edge" source="Orion">Info Edge</keyword> owns 15.23% stake in restaurant aggregator business Zomato and 13.3% in financial services company PolicyBazaar.</li></ul>Sanjeev Bhikchandani-led Info Edge has lost ₹9,491 crore ($1.2 billion) in its investment in tech startups Zomato and PolicyBazaar since their stock market debut. The development comes as tech and startup stocks underwent a meltdown in the last few months. According to Business Insider’s calculations, the Naukri.com and Jeevansathi.com’s parent company has made ₹12,656 crore ($1.6 billion) on its investment in the two companies as of May 30. This investment however was once worth more than twice of what they’re now worth —- at ₹22,148 crore ($2.8 billion), as per their listin day valuations. Notably, Info Edge owns 15.23% stake in restaurant aggregator business Zomato and 13.3% stake in financial services company PB Fintech, which is the parent company of PolicyBazaar and PaisaBazaar. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Returns on the day of listing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Returns on May 30, 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹14,957 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,537.9 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PB Fintech (PolicyBazaar) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,191 crore. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,119 crore </td></tr></tbody><tbody></tbody></table>Zomato’s shares listed at a<a href="https://www.businessinsider.in/business/news/zomato-makes-a-strong-public-market-debut-at-51-premium-shares-open-at-115/articleshow/84667265.cms#:~:text=Zomato%20made%20a%20strong%20debut,the%20NSE%2C%20up%2072%25."> premium of 51% </a>as its shares opened at ₹116 in July 2022. Its market cap was at ₹98,211 crore on the closing bell on the first day of listing, down from the ₹100,000 crore mark it breached earlier in the day. The company’s market cap has halved since then to ₹56,060 crore, as of May 30. At the peak of Zomato's stock price, Info Edge’s shareholding in the company was valued at ₹20,190 crore. PB Fintech — which offers insurance and loan facilities to customers — listed on the stock exchange at a premium of 17% on the Indian stock market on November 15, 2021. Its market cap was ₹54,070 crore on the closing bell on the day of market debut, versus ₹30,970 crore on May 30. Info Edge is also an investor in other initial public offering (IPO)-bound companies like ixigo and Shiprocket. The year <a href="https://www.businessinsider.in/stock-market/news/there-are-huge-discounts-on-nykaa-zomato-paytm-and-shares-of-other-listed-tech-startups/articleshow/89086759.cms">2022 has not been a great one</a> for these tech stocks, which <a href="https://www.businessinsider.in/stock-market/news/paytm-nykaa-and-zomato-are-now-a-part-of-nifty-next-50/articleshow/89820712.cms">made their debut on the stock market </a>only last year. Besides Zomato and PB Fintech, others like Paytm and Nykaa have also faced a significant drop in their share price and market capitalization ever since the startup of 2022. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Percentage change in stock price since Jan 1, 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-49.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PB Fintech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-28.05% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FSN E-Commerce (Nykaa) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-32.99% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">One97 Communications (Paytm) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-52.13% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EasyTripPlanner (EaseMyTrip) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+41.68% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MapMyIndia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-25.59% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RateGain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-21.75% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nazara Technology </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-50.26% </td></tr></tbody><tbody></tbody></table>Source: Bombay Stock Exchange One97 Communications, the parent company of Paytm, was <a href="https://www.businessinsider.in/stock-market/news/zomato-is-now-bigger-than-paytm-reasons-why-the-market-is-not-excited-about-vijay-shekhar-sharmas-vision-of-a-superapp/articleshow/87777762.cms">not doing great in 2021</a> but 2022 was somehow even worse when it 52.13% of its share price and marketcap this year. The company’s valuation has eroded over 75% ever since its listing in November 2021. Nykaa was off to a <a href="https://www.businessinsider.in/stock-market/news/nykaa-starts-trading-at-2001-a-premium-of-77-87/articleshow/87618803.cms">good start last year</a> as the company managed to double investors’ money on the day of listing. However, it has too been on a downwards trajectory this year as it witnessed over 27% dip in its share price in 2022. Info Edge’s share price also fell nearly 32% since the start of this year. SEE ALSO <a href="http://www.businessinsider.in/finance/banks/news/citi-kotak-icici-and-other-investment-banks-earned-2600-crore-through-ipos-last-year/articleshow/91887303.cms" data-type="tilCustomLink" style="">Indian companies raised $14 billion via IPOs and their i-bankers made $300 million in fees</a> <a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/nykaa-to-face-competitive-heat-but-its-omni-channel-experience-maybe-the-game-changer/articleshow/91883946.cms" style="">Nykaa to face competitive heat but its omni-channel experience maybe the game changer</a> <a href="http://www.businessinsider.in/business/startups/news/mobile-premier-league-and-frontrow-fire-245-people-as-startup-layoffs-continue/articleshow/91892557.cms" data-type="tilCustomLink" style="">As startup layoffs continue, Mobile Premier League and FrontRow fire 245 people</a>

Info Edge has lost over $1.2 billion on its investment in Zomato, PolicyBazaar

<ul><li>The company wants to get deeper into the matchmaking prospect by launching two more products in the upcoming year.</li><li>Even though the casual dating industry is expected to record nearly half a billion revenue in 2021, <keyword id="12758425" type="General" weightage="20" keywordseo="shaadi-com" source="Orion">Shaadi.com</keyword> wants to stay away from it.</li><li>The company also launched wedding preparation guide ‘Wedding From Home’ and video calling feature ‘ShaadiMeet’ last year.</li></ul>One of the biggest matchmaking platforms in India, Shaadi.com, is on a hunt for new business opportunities in order to further enhance its business, the company’s founder and chief executive Anupam Mittal told Business Insider. No, it has nothing to do with casual dating. The company wants to get deeper into the matchmaking prospect by launching two more products in the upcoming year. “We are planning to launch something in January, which will tilt the entire industry on its head and open up a lot of avenues for us. This is a completely new way for finding a match,” Mittal said without revealing further details. Mittal also told Business Insider that the company will be looking forward to entering the matchmaking arena for the LGBTQ (lesbian, gay, bisexual, transgender and queer) community or people living abroad. “We see ourselves as a platform for companionship and matchmaking…That could mean for different markets, different regions, different countries, different sexes. We don’t have a problem with that. But we will significantly expand the kind of things that we do from a matchmaking context,” Mittal said. The development comes <a href="https://www.businessinsider.in/live-section-377-verdict-all-eyes-on-indias-top-court-to-scrap-law-criminalising-homosexuality/articleshow/65697010.cms">four years after the Indian Supreme Court</a> decriminalised same sex relationships in India. Even though the casual dating industry has been booming and is expected to record<a href="https://www.statista.com/outlook/dmo/eservices/dating-services/online-dating/india"> nearly half a billion revenue</a> in 2021, Shaadi.com wants to stay away from it. “Anything we do, we have to do with serious dating, finding a companion or finding a life partner. Not for finding a date tonight or finding the right partner. That’s not a business we are in or we want to be in,” Mittal added. He noted that there are too many players in the space already and they are doing a good job. Founded in 1996, Shaadi.com also runs a retail network of matchmaking centres as well. Besides this, the company also has another matchmaking platform called Sangam, which matches people based on their community. The company also launched wedding preparation guide ‘Wedding From Home’ and video calling feature ‘ShaadiMeet’ last year to enable more users to find their matches online during the pandemic. The company claims their revenue grew nearly 25% in the last fiscal year. However, the numbers were not as high as the company had first expected. The number of enagemements (people engaging with each other) went up by 50%, but the number of transactions did not grow at the same rate as people could not meet online. The company competes with BharatMatrimony and InfoEdge-backed JeevanSathi.com in India. SEE ALSO <a href="https://www.businessinsider.in/retail/news/amazon-future-deal-cci-clears-the-way-for-reliance-acquisition-by-revoking-2019-deal/articleshow/88343227.cms" data-type="tilCustomLink">CCI clears the way for Amazon-Future deal by revoking Future Coupon’s three-year-old deal with Amazon</a> <a href="https://www.businessinsider.in/business/startups/news/grofers-founder-explains-why-he-rushed-to-rebrand-the-startup-and-his-plans-seem-ambitious/articleshow/88320706.cms" data-type="tilCustomLink">INTERVIEW: Grofers founder explains why he rushed to rebrand the startup and his plans seem ambitious</a> <a href="https://www.businessinsider.in/business/startups/news/ola-raises-half-a-billion-dollars-in-debt-to-fuel-its-food-delivery-and-quick-commerce-dream/articleshow/88314624.cms" data-type="tilCustomLink">Ola raises half a billion dollars in debt to fuel its food delivery and quick commerce dream</a>

Shaadi.com is looking to enter matchmaking for LGBTQ+

<ul><li>InfoEdge has acquired 76% shareholding in the dating app for $12 million.</li><li><keyword id="455188" type="General" weightage="20" keywordseo="aisle" source="Orion">Aisle</keyword> claims to have acquired over 6.5 million users in the last eight years of launching its operations.</li><li>Aisle has been trying to place itself as a limited use dating app meant to be deleted.</li></ul>InfoEdge — the parent company of matrimonial platform Jeevansaathi.com — has entered the online dating space with the acquisition of Aisle. The Sanjeev Bikchandani-led company has acquired <a href="https://www.businessinsider.in/business/startups/news/infoedge-acquires-76-stake-in-dating-app-aisle/articleshow/90075620.cms">76% shareholding</a> in the dating app for $12 million. Even though Aisle claims to have acquired over 6.5 million users in the last eight years of its operations, the company has not been able to get the same sort of traction from the investors. The company’s founder and chief executive officer (CEO) Able Joseph noted Aisle was not looking to raise any funding since 2017 as it had already reached a breakeven by then. Also, it was also especially difficult for the company to raise any capital as it works exactly opposite from the investors’ playbook. While other dating apps have been designed to increase engagement, Aisle has been trying to place itself as a limited use dating app meant to be deleted. Joseph explained that they don’t want to be equated with <keyword id="6238446" type="General" weightage="20" keywordseo="casual-dating" source="Orion">casual dating</keyword> apps like Tinder, Bumble and others as they want to get into more “high-intent dating” where people find their partners. “We don’t want to be seen in the same bracket as Tinder and Bumble. These are gamified dating apps, why would anyone engineer an app where anyone can swipe left and right 100 times a day. You are basically taking away the scarcity and scarcity is important to keep human behaviour in check. So when you take away the scarcity, it’s quite natural for any users to misbehave and misuse the product. The casual dating apps intentionally do that for engagement and things like that,” he told Business Insider. He further elaborated that Aisle wants people to find their partners and “never return [to the app] after that”. This is the reason why venture capital is not the answer for Aisle as their business model is not to keep users engaged for a longer period of time. Therefore, it was “far better” for Aisle to find a specific partner than to raise venture capital. “While most of our competitors focused on engagement through gamification, we went against conventional wisdom and focused on churn. We optimised our products for our members to meet someone special and exit the platform. While this decision made it difficult to raise venture capital,” he added, highlighting that the success stories and word-of-mouth helped the company stay in the race. Joseph mentioned that platforms like Tinder and Bumble may have been able to increase the engagement with the users, but the number of people meeting in real life is very limited. “Maybe in Bengaluru, Delhi and Mumbai there are a bunch of people who are matching on casual dating apps and meeting offline, but if the whole of India that is not the story whatsoever.” He believes that more Indians are looking to get into serious relationships, rather than participating in the hookup culture. Even though Jeevansathi and Aisle are targeting people at the different stages of their life, the intent of both the platforms is to find a partner. The companies have been informally in touch with each other since 2016 to exchange market insights, but the conversation around acquisition started only four months ago, Joseph added. The company has raised ₹2 crore to date, according to business intelligence platform Crunchbase. Over the last two years, the company has launched several other vernacular apps like ‘Arike’ for Malayalees, Anbe for Tamil and Neetho for Telugu audience. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/startups/news/boat-has-rejigged-its-entire-upper-management-in-the-run-up-to-the-ipo/articleshow/90140785.cms">BoAt has rejigged its entire upper management in the run up to the IPO</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-colgate-lupin-among-hot-stocks-to-watch-out-for-on-march-11/slidelist/90139884.cms">Wipro, Colgate, Lupin among hot stocks to watch out for on March 11</a> <a href="https://www.businessinsider.in/investment/news/heres-why-ethereum-gas-fees-have-dipped-to-a-six-month-low/articleshow/90128490.cms">Ethereum gas fees plummet to six-month low amid waning interest in DeFi and NFTs</a>

INTERVIEW: Info Edge’s latest acquisition Aisle’s founder explains why it was difficult for him to raise funds

New Delhi, Jan 25 () Sanjeev Bikhchandani, founder and vice-chairman of Naukri.com, India's leading job site, was on Saturday conferred with Padma Shri, one of the highest civilian awards.
According to a home ministry statement, Bikhchandani has been given Padma Shri in the category of trade and industry.
His company also runs Jeevansathi.com, 99acres.com, and Shiksha.com. In addition, it has made strategic investments in promising web start-ups such as Zomato, Policybazaar, Shopkirana and Ustraa.
He graduated from IIM Ahmedabad in 1989.
Starting off from a servant quarter above a garage and seed capital of two thousand rupees, the entrepreneur's company grew and attracted investments from leading global venture capitalists.
It was the first Internet company to list on Indian stock exchanges. Today, the company employs over 4,000 people and has a market capitalisation of over USD 4.5 billion.
Bikhchandani is also the founding trustee of Ashoka University. ACB RHL

Naukri.com founder gets Padma Shri

New Delhi, Feb 12 () Info Edge (India) on Wednesday posted a consolidated loss of Rs 62.1 crore for the quarter ended December 2019. The company had posted consolidated profit of Rs 330 crore in the year-ago period, Info Edge (India) Ltd said in a filing to BSE. The consolidated income of the company, however, increased to Rs 359.7 crore in the October-December period, over Rs 323 crore in the year-ago period. Commenting on the results, the company's CFO Chintan Thakkar said, "We are pleased to witness yet another robust quarterly result containing double digit growth in all key matrices such as billing, revenue nd operating EBITDA on year-on-year basis. We continue to leverage our strong cash surplus position to invest in technology and branding." Info Edge (India) runs leading internet businesses Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. Shares of the company were trading at Rs 3,001.40 apiece, up 0.14 per cent from the previous close on BSE. SID ANSANS

Info Edge reports Q3 loss at Rs 62 crore

<ul><li><keyword id="3401632" type="PERSON" weightage="20" keywordseo="InfoEdge">InfoEdge</keyword> has acquired Highorbit Careers Pvt. Ltd which runs <keyword id="2597894" type="PERSON" weightage="20" keywordseo="IIMJobs">iimjobs</keyword> and hirist.com in a deal worth ₹808.1 million. </li><li><keyword id="79563" type="COMPANY" weightage="20" keywordseo="Naukri">Naukri</keyword> has more than 475,000 jobs on its platform at any given point and has more than 60 million registered job seekers on its platform.</li><li>InfoEdge runs Naukri.com, jeevansathi.com, 99acres.com and shiksha.com was one of India’s early startups to head for an IPO. </li></ul>One of India’s earliest internet companies InfoEdge, which runs the country’s oldest and biggest recruitment portals like Naukri.com, has acquired Highorbit Careers Pvt. Ltd which runs iimjobs and hirist.com. “In India, internet businesses are just starting. We continue to look for good opportunities outside to invest for our internal businesses to grow,” Hitesh Oberoi, Co-Promoter, MD and CEO, InfoEdge had told Business Insider. InfoEdge will be acquiring 100% of Highorbit Careers Pvt. Ltd in a deal worth ₹808.1 million. Naukri has more than 475,000 jobs on its platform, along with more than 60 million registered jobseekers. With products such as Resume Database Access, Job Postings and Response Management Tool for over 76,000 corporate clients, the portal has a traffic share of over 70%. iimjobs, which was founded in 2010, has 23,000 job postings with 1.8 million job seekers every month. In 2016, iimjobs had raised funding worth $2 million from India Quotient, an early stage investment firm. According to <a href="https://inc42.com/features/the-128-startups-that-raised-funding-from-the-dipps-fund-of-funds/">reports,</a> iimjobs had also raised funding from Department for Promotion of Industry and Internal Trade. “iimjobs has managed to carve a niche for itself and has built a great brand in the premium jobseeker community. Its value proposition strongly complements Naukri’s proposition to its customers,” said Oberoi. InfoEdge, which runs Naukri.com, jeevansathi.com, 99acres.com and shiksha.com, was one of India’s early startups to head for an IPO. See Also: <a href="https://www.businessinsider.in/ibm-watson-to-mentor-indian-women-in-emerging-tech/articleshow/68385820.cms">IBM’s AI platform Watson to mentor over a million Indian women for ‘new collar’ jobs</a>

Naukri.com parent InfoEdge acquires rival portal iimjobs for ₹808.1 million

<ul><li>Shares of <keyword id="80004" type="General" weightage="20" keywordseo="info-edge" source="Orion">Info Edge</keyword> (India) Limited reached ₹6,692 at 11:56 a.m. on September 8.</li><li>The development coincides with ICICI Securities issuing a buy call on Info Edge (India) with a target price of ₹8,040.</li><li>The analyst expects increase in hiring, real estate rentals and wedding trends to fill Info Edge’s pockets in the near term.</li></ul>Sanjeev Bikhchandani-led Info Edge’s shares reached ₹6,692 at 11:56 a.m. This represents an increase of ₹509 in value compared to the previous close of ₹6,183 on September 7. Over the last one month, Info Edge’s share price has increased by 23%. Each share was valued at ₹5,368 on August 9 compared to ₹6,692 at 11:56 a.m. The development comes as ICICI Securities has issued a buy call on Info Edge (India) with a target price of ₹8,040 today. The analyst expects the share to reach the target price in a span of one year. The analyst had issued a similar buy call in June with a target price of ₹6,300. ICICI Securities have now revised the target as <keyword id="6740899" type="General" weightage="20" keywordseo="info-edge-shares" source="Orion">Info Edge shares</keyword> have crossed the said target. In its latest report on Info Edge, ICICI Securities has elaborated on the strong points that would lead the company’s stock price to increase. The broking house has also revised the estimated valuations of Info Edge and its subsidiaries. “We value Naukri at 75x [times] financial year 2023 estimates earnings per share. We value 99 Acres and Jeevansathi [Info Edge’s subsidiaries] each at 20x FY 2023 estimated sales. As elaborated in our report, our 1-year forward valuation of Zomato [a portfolio company of Info Edge] stands at $22 billion.” <div type="image" title="Here is how Naukri parent Info Edge’s stock went up 23% in the last one month" msid="86032580" hostid="261"></div> Meanwhile, Info Edge’s portfolio companies — Zomato and Info Edge — are also moving away from the ‘startup’ tag to a maturity stage. Zomato has already hit the public market and bought over <a href="https://www.businessinsider.in/stock-market/news/info-edges-remaining-stake-in-zomato-is-worth-15000-crore/articleshow/84668883.cms">₹15,000 crore</a> in return for Info Edge, PolicyBazaar has filed <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">preliminary papers</a> to go public soon. Further Info Edge invested in another <a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms">initial public offering (IPO)</a>-bound company ixigo in July. Key points working in favour of Info Edge <div type="image" title="Here is how Naukri parent Info Edge’s stock went up 23% in the last one month" msid="86032598" hostid="261"></div> Strong hiring could benefit Naukri.com Trends in other markets like the US, which publish job market data periodically, hint towards a significant demand-supply mismatch when it comes to hiring. In India, entrepreneurship, preference to work in startups and flexibility of workplace are going to be biggest drivers of this demand-supply mismatch in hiring, as per ICICI Securities. This is likely to benefit job search platforms like Naukri.com for the next 12-18 months. Vibrant job market will push more people to move out ICICI Securities in its latest report noted that several new trends have emerged in the proptech segment — low interest rate, strong pipeline, print to online shift in advertising, recent direct-to-customer (D2C) approach taken by builders to drive traction in online real estate classifieds. The brokerage firm predicted the spike in paid listing going ahead, which will enable Info Edge-owned 99acre.com’s EBITDA [earnings before interest, taxes, depreciation, and amortisation] profitability to exceed the street estimates. ICICI Securities, however, also noted that competitive intensity is one of the key reasons for the suboptimal profitability in this segment for Info Edge. Besides this, the decline of funding in the real estate segment is also pushing Info Edge’s competition to reduce cash burn. “Nevertheless, the full stack aspirations of competitors like Square Yards is a key risk to watch out for,” the report added. Matchmaking is back on the table Easing of lockdown restrictions and best-in-a-decade job security will encourage more people to look for their partners on matchmaking platforms. ICICI Securities is anticipating a sharp increase in paid listings in the near term to also drive EBITDA profitability, in FY23. This will be a surprise to the current street expectation, the ICICI Securities added. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomato-policybazaar-investor-info-edge-invested-in-nearly-2-startups-every-month-in-2021/articleshow/86028438.cms">Zomato, PolicyBazaar investor Info Edge invested in nearly 2 startups every month in 2021</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-bags-another-150-million-to-fund-its-acquisition-spree/articleshow/86027937.cms">Byju’s bags another $150 million to fund its acquisition spree</a> <a href="https://www.businessinsider.in/business/startups/news/zoho-corp-invests-5-million-in-medical-devices-startup-voxelgrids/articleshow/86000656.cms">Zoho Corp invests $5 million in medical devices startup Voxelgrids</a>

Here is why Naukri parent Info Edge’s stock went up 23% in the last one month

<ul><li>InfoEdge’s net revenue grew to ₹316.6 crore from ₹265 crore in the same quarter previous year. </li><li>The revenue push came in from its <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> aggregator platform <keyword id="1336736" type="PERSON" weightage="20" keywordseo="99acres">99acres</keyword>.com.</li></ul>One of India’s first internet companies InfoEdge reported a 19.5% jump in net revenues in the second quarter to ₹316.6 crore from ₹265 crore in the same quarter previous year, thanks to its real estate aggregator platform 99acres.com. “We continue to witness strong quarterly operational performance in terms of billing, revenue, total income and operating EBITDA growth, which are in high teens on year-on-year basis, supported by 99acres which grew over 20% in terms of billing and revenue during the quarter on a year-on-year basis,” said Chintan Thakkar, chief financial officer of InfoEdge. Thakkar spoke to Business Insider to share how the revenues on 99acres, in spite of an economic slowdown. “99acres has been consistently growing in the last six quarters. The last quarter we grew by 19%,” he said. The real estate aggregator business is divided into two parts – the first being the developers and businesses about new projects and the second one being resale retail. The second aspect has been the one to turn the story around for 99acres. “The growth could be because of the velocity of transactions – if there are more and more transactions in the market the business goes up. There are more green shoots around resale rental business and that is helping brokers with a good return on investment, which in turn helps our business,” said Thakkar. The company’s net profits also fell by 88% due to an exceptional item – impairment in a company called Meritnations due to gap in valuation. However, Thakkar informs us that there actually has been a 31.4% jump in profit margin. Along with 99acres.com, <keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword> is the parent company for popular sites like <keyword id="218117" type="COMPANY" weightage="20" keywordseo="Naukri-com">Naukri.com</keyword>, JeevanSathi.com, and Shiksha.com. On the Naukri portal, they have over 60 million resumes, half a million recruiters and over 13-14 lakh applicants for jobs. The company also invests in startups and was also an early investor in the foodtech unicorn Zomato. Info Edge also recently invested ₹21 crore in edutech platform Adda247 and ₹5 crores in real estate startup Terralytics Analysis. See Also: <a href="https://www.businessinsider.in/naukri-jobs-is-using-artificial-intelligence-to-take-on-linkedin/articleshow/69751271.cms">An Indian internet company older than Google is using Artificial Intelligence to reinvent itself</a>

Info Edge’s revenues jump 19.5% on the back of increased transactions on 99acres

<ul><li>In an interview with Business Insider, <keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword> CEO Hitesh Oberoi talks about how they are innovating at <keyword id="79563" type="COMPANY" weightage="20" keywordseo="Naukri">Naukri</keyword> with Artificial Intelligence and Machine Learning.</li><li>Info Edge runs Naukri.com, JeevanSathi.com, 99acres.com, and Shiksha.com. </li><li>On the Naukri portal, they have over 60 million resumes, half a million recruiters and any given day, over 13-14 lakh applicants for <keyword id="11018" type="COMPANY" weightage="20" keywordseo="Jobs">jobs</keyword>.</li></ul>In 1997, before <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword> came into being, an Indian internet company called Info Edge launched Naukri.com, which remained a hugely popular jobs portal for over a decade. However, the time has come now to upgrade itself for the next internet era and to take on the likes of LinkedIn, which have become successful in their own right. In an interview with Business Insider, Info Edge CEO Hitesh Oberoi spoke about how Naukri.com will evolve from being just a jobs portal to a careers platform and how they are working on the current big trend with Artificial Intelligence, Machine Learning and Big Data. Building on the new trend Today, it’s the new trend that’s taking over the world by storm – technologies like Artificial Intelligence, Machine Learning, Big Data. And this one Naukri doesn’t want to pass out on. “The truth is every time you figure out these trends, they take your business to the new level. We are trying to invest substantially into these areas,” said Oberoi. Naukri’s clients – the recruiters have long had the problem of spam. For one job listing, there are thousands of applicants. And here’s where AI, ML and data science will take over. “We are sitting on tons of data. So much can be done, from matching applicants to jobs, user experience, giving them advice/suggestions, identifying hot skills – everything can be determined with AI and ML. We can transform Naukri from being a jobs portal to a careers platform,” said Oberoi. The Naukri portal has over 60 million resumes, half a million recruiters. On any given day, they have over 1.3-1.4 million jobs applicants use the site, according to the company. #Throwback The company that went public within 9 years of its formation, has survived all the big waves the internet industry has seen – Search, social networking and mobile. The internet as we know today has exploded over the past 20 years and has given birth to several different giant entities like the social media. But Info Edge came about when nobody understood what the internet was but the founders knew – jobs were the key. Over the years, Oberoi says there have been multiple waves that have hit the industry and each one brings with it a challenge as well as an opportunity. Discovering Search “When we there was no Google. In 2002, we launched a database product (which today is over 65% of our revenue) but didn’t exist when we got funded. We were trailing our competitors with respect to the number of CVs on our platform. Advertising in the newspaper wasn’t working for us,” said Oberoi. It was then that Google became big and suddenly a lot of traffic was out there. “We started search engine marketing in 2003. We were advertising on millions of keywords on Google, there was nobody else back then and it was a bidding model. We put all our resources on Google,” he said. And within two months, they were getting an extra 400 CVs a day. “That’s how we capitalized on the search wave,” he said. The networking era The next wave that hit them was the social media wave. LinkedIn, which was founded in 2002, jumped on the networking train and became a social media giant of its own. However, Naukri failed to work around it. “We were unable to figure out how to use it to our benefit. LinkedIn got there first. What you need to understand is that the trick lies in figuring it out before the others do,” said Oberoi. Going mobile Oberoi lists the next wave of internet revolution to be the mobile generation and this one he said they figured out fast and right. “We realised what works on the desktop doesn’t work on the mobile. Today, 80% of Naukri traffic comes from mobile and when it comes to Jeevan Saathi, it’s 90%,” he said. Other investments Info Edge also has other successful portals JeevanSathi.com (a matrimonials site), a real estate listings platform called 99acres.com, and education platform Shiksha.com. Over the years, they have been investing money into companies that can add on to their in-house businesses. Naukri had acquired consultancy firm Toostep in 2012, <keyword id="6357342" type="UNKNOWN" weightage="20" keywordseo="Hiring">hiring</keyword> startup Ambition Box two years ago, and in May 2019, it acquired rival iimjobs.com. And they have a plan through all of it. They want to use data to give insights to job seekers on how they can improve their prospects, to produce new products – an insight platforms for recruiters, to going beyond sourcing and building a holistic platform which includes shortlisting of candidates, scheduling interviews and more. They already have a product – Naukri Recruitment Management System. “Increasingly, all our investments are in the AI, ML space,” said Oberoi. See Also: <a href="https://www.businessinsider.in/automation-will-affect-women-the-most-in-the-indian-job-market-report/articleshow/69674101.cms">Automation will affect women the most in the Indian job market: Report</a>

You Searched For "Jeevansathi" and got 13 results

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