Yahoo invests in India marriage site
Yahoo and Canaan Partners invested an undisclosed amount in Indian matchmaking site BharatMatrimony.Com.india Updated: Aug 05, 2006 16:24 IST
Yahoo and venture capital firm Canaan Partners invested an undisclosed amount in Indian matchmaking site BharatMatrimony.Com, adding to Yahoo's 10 acquisitions and investments in the past year.
BharatMatrimony.Com, a Chennai-based company with 7.5 million users, will also get promotional help from Sunnyvale, California-based Yahoo, spokeswoman Helena Maus said.
The investment strategy lets Yahoo, the most-visited US Internet site, quickly add new products and tap international markets. The company in June agreed to buy 10 per cent of South Korean online auctioneer Gmarket and last year paid one billion dollar for 40 per cent of Alibaba.Com Corp. In China.
Founded in 1997, BharatMatrimony.Com has 300 employees and charges users from 43 dollar a month to browse profiles of potential spouses and communicate using the site. Westport, Connecticut-based Canaan Partners opened an office in India on June 6.
Yahoo's sales are growing fastest outside the US International revenue gained 32 per cent to 506 million dollar in the second quarter as US sales rose 23 per cent to 1.07 billion dollar.
Yahoo bought or invested in 12 companies with names like Del.Icio.Us and Ludicorp last year, up from 10 in 2004, as Google and Microsoft stepped up competition for Internet users. The purchases added features such as an online photo site that lets users share and annotate photos and software for placing calls over the Internet.