Yahoo, Canaan acquire stake in bharatmatrimony.com
August 3rd, 2006 Leave a comment Visited 30 times, 2 so far today
Yahoo, Canaan acquire stake in bharatmatrimony.com
We now have more multinational corporations investing in Indian dotcom ventures. After multi-million-dollar private equity placement in dotcoms like shaadi.com, jeevansaathi.com, and cleartip.com in recent months, we now have Internet media company Yahoo Inc and venture capital firm Canaan Partners collectively investing in bharatmatrimony.com, a player in the on-line matchmaking space.
These two companies have invested $8.65 million for an undisclosed minority stake in Bharatmatrimoney.com Pvt Ltd.
This company also operates other online ventures including clickjobs.com, indiaproperty.com, indiaautomobile.com, bharatbloodbank.com, and indialist.com.
Murugavel Janakiraman, CEO, BharatMatrimony.com added: “We plan to open offices in the UK, South East Asia, and countries having sizeable Indian Diaspora.”
This deal would see BharatMatrimony.com powering the matrimonial and property channels of Yahoo India.
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