Yahoo! exits Consim Info for Rs 100 cr

Yahoo has exited Consim Info Pvt Ltd by selling 12 per cent stake to Bessemer Venture Partners, Mayfield Fund and Canaan Partners for Rs 100 crore. The deal valued the operator of Bharatmatrimony.com at over Rs 800 crore.

Murugavel Janakiraman, founder & CEO of Consim Info confirmed the development, but declined to comment. Markets sources said Bessemer Venture Partners acquired the shares for Rs 50 crore, Mayfield for Rs 36 crore and Canaan Rs 14 crore.

Consim raised $8.65 million in it's first round of funding in 2006 from Yahoo and Canaan Partners. This was followed by a second round of funding worth $11.75 million from Yahoo Inc., Mayfield Fund and Canaan Partners in 2008.

Consim also runs an online job portal (Clickjobs.com) and a property website (Indiaproperty.com), apart from a host of other portals including Muslimmatrimony.com and Christianmatrimony.com and an online service for rich individuals looking for a life partner (Elitematrimony.com).

Bharatmatrimony, has emerged as the top matrimony website, according to the latest online survey conducted by research firm Juxt Consult. The site has consistently topped traffic ratings by Comscore and other agencies and had been ranked as the most visited matrimony site in the world.

A JuxtConsult study on online usage said a whopping 80 per cent users visit bharatmatrimony.

The popularity of the site can only be compared to that of Facebook and YouTube, which also recorded 80 per cent or more hits in their respective categories.

Bharatmatrimony was also the most used/preferred matrimony website for 56 per cent of those seeking life partners, while Facebook was the most used social networking website (59%). YouTube was the most preferred website for 78 per cent of those who watch videos.