Veda advises Matrimony.com in its acquisition of minority stake in Astro Vision
CHENNAI: Online matchmaking company Matrimony.com has acquired a 26.1% stake in Astro-Vision, an astrology content and horoscope software provider, for an undisclosed sum.
The Murugavel Janakiraman-led Matrimony.com runs a slew of websites catering to various segments of the market going online to find their spouses, and provides services related to wedding halls and photography.
According to a release, Astro-vision provides Vedic astrology content and offers a software that can generate horoscopes. Matrimony.com said Astro-Vision has generated 110 million horoscopes till date.
In a press release today, Janakiraman, Chairman and Managing Director of Matrimony.com, said astrology was critical to a match on the company website. “A majority of our customers generate horoscope prediction using Astro-Vision’s software.”
Arjun Ravindran Pandarath, Managing Director of Astro-Vision said: “We are excited about this strategic investment as it creates tremendous opportunities to scale and enhance our positioning through technology and marketing.”
Matrimony.com, one of the few consumer Internet companies to go public, reported a 7.4% jump in billings for the December quarter at Rs 92 crore.