Japan’s No. 1 recipe site Cookpad (listed, 2193) posted its newest financial report [JP, PDF] for the third quarter of fiscal 2011, and things are looking pretty good. Sales soared 61.8% to 24.11 billion yen ($29.1 million), while net profit grew 86.2% to 722 million yen ($8.7 million).
What’s interesting is that Cookpad managed to boost the number of paying members by 122.3% (these members pay 294 yen/$3.55 to be able to access more features). Cookpad as a whole has 10.05 million monthly active users who rack up 420 million page views, making it the biggest recipe site in Japan.
Rakuten, however, is currently establishing what appears to be the first serious competitor for Cookpad, namely Rakuten Recipe (background).