 |
There are 3 new posts in "WATBlog.com - Web, Advertising and Technology Blog in India" Bharatmatrimony In Really Bad Financial State? Starts Downsizing - Fires CMO?Ok. The reason for the question mark in the title is because we have been tipped off on a propective downsizing initiative at Bharatmatrimony stating that it is in deep trouble financially. Just 2 hour back we got a mail from a anonymous reader tipping us off that all’s not well in Bharatmatrimony i.e. Consim Info Pvt Ltd. Here is the email we have received by us:
“BharatMatrimony downsizes, Chief Marketing Officer (CMO) sacked The economic downturn seems to have hit the dot com industry. After in investor’s meet today morning (December 1, 2008), BharatMatrimony.com (Consim Info) has decided to undertake a downsizing exercise and the first to go is their Chief Marketing Officer (CMO) P Gopalakrishnan. In fact, such has been the case of the CMO’s non-performance that he was not even invited for the meet. He has been asked to leave the organization before December 15. More announcements are expected soon. The company, Consim Info, has been in bad shape with an outstanding of close to Rs. 25 Crore because of which several mass media have refused to even carry their advertisements.” The email also sent across Mr.P.Gopalakrishnan’s phone no as well which we haven’t published. We tried getting in touch with Mr.P.Gopalakrishnan but he didn’t respond.
We have contacted Consim Info Founder & CEO Mr.Murugavel J to confirm the story and this is what he had to say: “These are just rumors.. Our CMO P Gopalakrishnan has done a fantastic job in the last year and has now decided to move on. We were going to announce this development today morning. Also he would not be quitting before 3 months till a replacement is sought by Consim Info. Also we are the only matrimony company with 2 rounds of funding and we are a profitable entity so all this rubbish about us not having funds is completely incorrect” On asking him as to who he thinks could be spreading these rumors “When a company like ours is progressing there are detractors and jealous competitors. We have been seeing such rumors being spread about us for sometime now but it doesn’t bother me as we are doing very well and there is no cause for concern.” Well the slowdown is surely having its impact even if you take either of the versions to be true.. This is because if a competitor is actually spreading these rumors means that Murugavel is right and the competitors might just have been suffering at the hands of the slowdown and in frustration pulling down competition. Whatever may be the reason the online space is moving towards being a fiercely competitive space and with investors money on the line and slowdown setting in mudslinging and pulling each other down may become common.
Related PostsAlso Check Out: Economic Times Launches Online Portfolio Management ToolEconomic Times has recently launched online financial portfolio management tool (not sure when it was launched but tipped off by a reader as a recent launch). This tool is very much like the ones available at moneycontrol and rediff.com.The economic Times financial portfolio management tool has an investment tracker and manager for Equity, IPO, Mutual Funds, ESOP’s, Derivatives, Real Estate and Others. The site also has tax planning and personal finance planning section. In more ways than one this becomes an entire financial planning tool. The site can be accessed at http://portfolio.economictimes.indiatimes.com/ and it seems that the technology has been powered by rupeex.com which is RupeeLog Financial Services Pvt. Limited and has been in this space since 2005. Even Rediff which has money.rediff.com gets its content via moneycontrol.com. All in all this isn’t the best of times (given the market crash) to launch such a product but the very fact its economic times im sure they will get traction for it. Related PostsAlso Check Out: Panelists For the WATBlog Panel Delhi On 12th December - Have A Look!Well we announced our first panel in Delhi last week and have got a tremendous response with over 70 registrations in just a couple of day. We have limited seats (just 150) so hurry and book your place. Even more reason to attend the WATBlog panel is the set of elite panelists that are going to form the WATBlog Panel. Here is a introduction to the panelists who have confirmed:
Sidharth is still under 30 years of age and is probably one of the most ‘uncorporate’ CEO’s you will ever meet. He is extremely down to earth, casual and seriously funny. But behind the casual and funny exterior is a sharp, very aggressive and now very experienced internet entrepreneur. He has also branched out beyond Webchutney by establishing Goosefish Media Ventures which incubates online content driven media properties. His latest foray is into the world of ad networks via NetworkPlay which is headed by Rammohan (more on networkplay here). We expect startling insights and frank opinions from Sidharth at the panel.
Alok was also a founding member of Indian Angel Network (formerly, Band of Angels India). Alok has played a key role in Canaan's investments in BharatMatrimony, iYogi, and Cellcast. A straight speaking VC who is always available to guide young entrepreneurs. Alok has been a speaker on multiple panel’s before and is know for his sharp and precise insights and his ability to bring out the key points in a discussion.
Prior to joining NDTV, He was Vice President Broadband and Web 2.0 at Indiatimes, where he took Indiatimes into the online Gaming arena. Prior to that, He was the Chief of Internet Business at the Hindustan Times. Sanjay is an avid blogger and poet himself and is one of the few head honcho’s in India who believe and propagate the power of social media. We are speaking to Yahoo and Indiatimes and should have a panelist each from those companies. So Stay tuned for further updates. Related PostsAlso Check Out: More Recent Articles |
  |
Click here to safely unsubscribe now from "WATBlog.com - Web, Advertising and Technology Blog in India" or change subscription settings
| Your requested content delivery powered by FeedBlitz, LLC, 9 Thoreau Way, Sudbury, MA 01776, USA. +1.978.776.9498 |
No comments:
Post a Comment