Matrimony.com to acquire 100 pc stake in wedding services aggregator ShaadiSaga
Following this acquisition, ShaadiSaga’s founders - Himanshu Kapsime (CEO) and Manish Garg (COO), along with another key leader - Niraj Patel (CPO) will join Matrimony.com in senior leadership roles.
Chennai-based online matrimony company Matrimony.com on Wednesday announced that it has signed definitive agreements to acquire a 100 percent stake in Boatman Tech Private Limited — the promoters of ShaadiSaga, a Delhi-based online wedding services portal. The transaction is subject to customary closing conditions and regulatory approvals.
In addition to being in the online matchmaking space, Matrimony.com claims to be a pioneer in the wedding services industry as well as it has invested in this space and built a portfolio of offerings, including WeddingBazaar.com and Mandap.com.
Murugavel Janakiraman, Chairman and Managing Director of Matrimony.com, said,
“With this strategic acquisition, we will accelerate our growth through supply enhancement and superior product capabilities. We intend to integrate ShaadiSaga’s product, technology, and social media assets with our offerings i.e., WeddingBazaar.com and Mandap.com.”
Murugavel Janakiraman, Chairman and Managing Director of Matrimony.com
This deal enables Matrimony.com to scale up its presence significantly in the North and West regions, strengthen its product capabilities, and become the largest wedding services player across the country.
Founded in 2015, ShaadiSaga has over 40,000 vendors across multiple services, and caters to customers across 15 major cities in the country. Through a digital presence built with social media and content marketing capabilities, ShaadiSaga has garnered consistent demand (over one million MAUs), and with its technology-focused approach, the startup claims to offer a differentiated product experience.
Following this acquisition, ShaadiSaga’s founders — Himanshu Kapsime (CEO) and Manish Garg (COO), along with another key leader, Niraj Patel (CPO) — will join Matrimony.com in senior leadership roles.
“We see excellent complementary strengths between ShaadiSaga and Matrimony.com, and we are excited to take this step towards building a comprehensive wedding services brand,” said Himanshu Kapsime, Co-founder and CEO of ShaadiSaga. “With Matrimony.com, we have the potential and the ability to significantly scale the business and drive consumer adoption of an industry-leading next-gen wedding planning solution.”
“With Matrimony.com’s decades of expertise, scale and resources, I am confident that we will be able to offer a superior experience for our customers and will be a strong partner to wedding vendor partners we work with,” added Manish Garg, Co-founder and COO of ShaadiSaga.
Edited by Kanishk Singh