From the day of its launch, Facebook’s (FB) management has been thinking how to diversify revenue streams so as to justify valuations. A few people were betting on the fact that FB has access to a lot of personal information that if they start selling this data out, they could actually make billions. But with growing scrutiny on data security, it has become impossible for FB to sell the data in free market.
They instead decided they could rather venture into related businesses. As obvious as it sounds, the idea to venture into matrimonial business was given by an Indian employee who was looking for a bride in Shaadi.com. He realized that every time he came across a request from a prospect, the first thing he did was to check their FB profiles and look for clues to understand their personalities.
After looking at the statistics provided by the Indian programmer, Mark Z., who was initially skeptical, loved this idea. This new facility will be available from start of 2015. To accomplish this objective, FB also launched “ask” application in early 2014 which will help users to ask for details if it is not available online either due to non-availability or because of privacy concerns.
On his recent visit to India, Mark Z became a huge Bollywood fan and realized how love equations work here and also realized that it all starts with FB. Although he was extremely proud over the use of his creation, he realized there was a gap that he could bridge to avoid people landing into “FriendZone”.
FB also combined this application with the famous software “Kundli” which would tell an individual about all the suitable matches in their friend’s list and also in friends of friends’ list so that they could chase them too. It will also give an option to ask a common friend for the qualities you aspire for in an individual and if they are really a suitable match for you given their experience with the prospect.
Facebook confirmed that their new feature abides by the “Black Box” strategy normally followed by a Hedge Fund and thus will not breach any privacy concerns. The individuals will only get to see the name of the prospect and not the exact criteria that goes in selection.
Before this announcement, this new application was discussed internally within FB Hyderabad office and received tremendous response from individuals looking for partners. As per one of their employees, he is very happy about how convenient it is to know the prospects he could ask without thinking whether their Kundli will match later.
This application will be available from Jan 2015 to all users and FB is betting that this application alone will give them a billion dollar business in India. After this announcement, Shaadi.com promoters are also planning to tie hands with FB because they know for a fact that they will otherwise lose ground given the tremendous individual database FB possesses.