Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

Dating.com acquires Dil Mil app for South Asian expats as dating apps consolidate

Following the recent news about the Badoo and Bumble and Badoo exit there is more consolidation in the dating app space. It seems many dating apps are running for the exits ahead of the launch of dating on Facebook.

The Dating.com Group – an investment of SDVentures – has acquired Dil Mil, a San Francisco-based dating app for expats from India and other South Asian countries. The acquisition was via a combination of cash and Dating.com Group stock. According to Dating.com, the deal values the company at up to $50 million. 

CEO and founder KJ Dhaliwal will continue to manage the company and will join Dating.com Group’s M&A and Strategy committees, as well as the Dating.com Group Advisory Board.

Dil Mil has effectively become the ‘Tinder for South Asians’, has over 1 million users in the US, UK, & Canada, and has spread its influence both via the app, as well as events, music, and art. It’s run campaigns with Bollywood superstars like Shilpa Shetty, “Love is” with leading South Asian influencers, and events like the Sessions Music Festival in New York City.

The portfolio of Dating.com Group already includes numerous brands including Dating.com, DateMyAge, LovingA, Tubit, AnastasiaDate, ChinaLove and others.

Dhaliwal said in a statement: “When we started Dil Mil, our vision was to empower the world to find love. I’m glad Dil Mil can continue to realize this vision with the support of Dating.com Group. As the dating app market becomes more competitive with companies like Facebook entering, we wanted to partner with a strong strategic player in this space.”

The idea for Dil Mil came to him after he realized his friends and family were having a hard time finding partners. He saw an opportunity to build a modern, reliable, safe platform specifically for South Asians to connect with each other. Existing methods like arranged marriages were outdated, while services offered by other apps were just not culturally appropriate.
 
Maria Sullivan (Vice President of Dating.com Group & Board Director at Dil Mil) commented: “Dating.com Group sees great potential in Indian and other South Asian markets. Dil Mil’s small yet talented team managed to build the leading company in its niche. The team will continue to manage the company while Dating.com Group will provide additional resources to help Dil Mil grow further. Dating.com Group plans to continue to acquire successful companies in the social discovery space.”

On average, Indians have the highest family income and postgraduate education ratio among foreign-born populations in America. The Indian diaspora is the largest in the world (30 million people). Continued growth is also expected since India is on pace to have the world’s largest population, surpassing China around 2027.

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio...
Post a Comment
Read more

Leading VCs discuss how COVID-19 has impacted the world of digital health

In December 2019, Extra Crunch spoke to a group of investors leading the charge in health tech to discuss where they saw the most opportunity in the space leading into 2020 . At the time, respondents highlighted startups in digital therapeutics, telehealth and mental health that were improving medical practitioner efficiency or streamlining the distribution of care, amongst a variety of other digital health markets that were garnering the most attention. Where top VCs are investing in digital health In the months since, the COVID-19 crisis has debilitated national healthcare systems and the global economy. Weaknesses in healthcare systems have become clearer than ever, while startups and capital providers have struggled to operate while wide swaths of the market effectively shut down. Given significant volatility and the rapid changes seen in the worlds of healthcare, venture and startups broadly, we wanted to understand which inefficiencies might have been brought to light, w...
Post a Comment
Read more

News-reading app Flipboard expands local coverage, including coronavirus updates, to 12 more U.S. metros

Earlier this year, personalized news aggregation app Flipboard expanded into local news . The feature brought local news, sports, real estate, weather, transportation news and more to 23 cities across the U.S. Today, Flipboard is bringing local news to 12 more U.S. metros and is adding critical coronavirus local coverage to all of the 35 supported locales. The 12 new metros include the following:  Baltimore, Charlotte, Cleveland, Detroit, Indianapolis, Nashville, Pittsburgh, Orlando, Raleigh, Salt Lake City, St. Louis, and Tampa Bay. They join the 23 cities that were already supported:  Atlanta, Austin, Boston, Chicago, Dallas, Denver, Houston, Las Vegas, Los Angeles, Miami, Minneapolis-St. Paul, New Orleans, New York City, Philadelphia, Phoenix, Portland, Sacramento, San Diego, San Francisco Bay Area, Seattle, Toronto, Vancouver and Washington, D.C. To offer local news in its app, Flipboard works with area partners, big and small, like The Plain Dealer’s Cleveland.com , ...
Post a Comment
Read more