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Introduction
Dating.com Inc., one of the world's largest online dating sites, is buying a smaller Indian competitor for up to $10 million in a bid to become a true global player as it looks ahead to an increasingly competitive market.
The deal is the largest ever for a dating company to acquire a competitor in India.
In a deal announced today, Dating.com will buy out its Indian competitor Datinggroup.in for $10 million to expand its reach in the country. The acquisition is the largest ever for an online dating company to acquire a competitor in India, according to our sources.
Dating.com is owned by Match Group, an American company that owns several popular dating services including Tinder and OkCupid as well as Match and OurTime—two of which are among the most popular dating sites globally (Tinder alone has over 100 million users). The company had previously been rumoured to be interested in expanding into India’s massive market after reports emerged that it was looking into making acquisitions or partnerships with local companies there; now it seems they’ve found just what they were looking for in Datinggroup and its flagship app Bumble Bizz which encourages “authentic conversations through structured online chats” between business professionals across various industries like startups/tech industry etcetera."
Dating.com plans to buy the Indian dating service Datinggroup.in .
Dating.com, Inc., the world's largest online dating company and part of Match Group Inc., announced that it plans to buy Indian dating service Datinggroup.in for up to $10 million.
"This is the largest acquisition ever for a dating company acquiring another competitor in India," said Sam Yagan, CEO of IAC’s Match Group and Chief Executive Officer of Match Group India which includes more than 35 brands including Tinder, OkCupid and Woo .
The deal is expected to close this month with the exact purchase price requiring regulatory approval, but no more than $10 million will be paid.
The deal is expected to close this month with the exact purchase price requiring regulatory approval, but no more than $10 million will be paid.
The deal will allow Dating.com to expand its reach in India, where it already operates a dating site and has plans to launch a mobile app later this year.
A portion of that will be paid in cash and the remainder in stock at its option.
A portion of the purchase price will be paid in cash, and the remainder will be paid at its option in cash or stock.
The company has a market cap of $100 million, meaning that if it pays the full purchase price ($10 million) in stock, it'll end up with about 6% ownership of Datinggroup. If it pays half that amount in cash and half as shares, it would own about 4%.
Datinggroup.in has 40 employees, 20 of which are techies and developers.
Datinggroup.in has 40 employees, 20 of which are techies and developers. It has users in 36 countries and 3,000 cities around the world, including India, U.S., UK and Canada.
It has users in 36 countries and 3,000 cities around the world, including India, U.S., UK and Canada.
Dating.com is a dating website that helps people find their perfect match. The company was founded in 1995, and has since expanded to more than 36 countries and 3,000 cities around the world. In addition to its many international offerings, Dating.com also operates several other niche sites geared toward specific demographics or orientations—including Jewish Singles and Christian Mingle (for Christians).
Datinggroup.in holds the second-largest share of dating sites in India behind Tinder with 2.5 million monthly users.
Datinggroup.in holds the second-largest share of dating sites in India behind Tinder with 2.5 million monthly users. It has 9 million profiles in its database, and is expected to grow by another million during 2020.
The startup was launched in 2008, and over the years it has become a household brand for online matchmaking services in India.
It has 9 million profiles in its database and it expects to grow by another million during 2020
Datinggroup.in has a database of 9 million profiles and is expected to grow by another million during 2020. The company plans to add 1,000 more employees in the coming months and expand its operations across India and abroad.
``We are looking at acquiring other properties as well,'' said Ajay Vidyasagar, CEO of Dating Group India Pvt Ltd (#DatingGroupIndia), an entity that owns and operates three dating services – datinggroup.in, #datingsiteindia and #datingwebsiteindia
With this acquisition Dating.com becomes a true global player
With this acquisition Dating.com becomes a true global player. The company has a strong presence in the U.S., Canada, UK and other countries but until now had no presence in India. With the acquisition of Datinggroup they will now have access to over 100M users across India and Southeast Asia.
Conclusion
With this acquisition Dating.com becomes a true global player and will be able to grow its business in India further. The deal is expected to close this month and the exact purchase price will require regulatory approval, but no more than $10 million will be paid. A portion of that will be paid in cash and the remainder in stock at its option.
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