InfoEdge acquires 76 pc stake in Bengaluru dating app Aisle for Rs 91 Cr
Delhi-NCR-based Info Edge on Tuesday said it acquired a 76 percent stake in dating platformfor Rs 91 crore. With both Aisle and Jeevansathi, InfoEdge will look to strengthen its offering in the matchmaking segment.
With these funds, Aisle will further strengthen its position in the high-intent dating market in India. Able Joseph, Founder and CEO, Aisle, will continue to run the company with support from Info Edge’s ecosystem.
Commenting on the acquisition, Able said, "While most of our competitors focused on engagement through gamification, we went against conventional wisdom and focused on churn. We optimised our products for our members to meet someone special and exit the platform."
He added, "While this decision made it difficult to raise venture capital, the success stories and word of mouth helped us stay in the race and become the market leader in high-intent dating. By partnering with InfoEdge, we now have a real shot at becoming the numero uno dating company in India.”
Info Edge is among the largest tech public companies in India, which operates platforms, including Naukri, Jeevansaathi, 99 acres, and Shiksha. The tech company is also one of the early investors in Zomato and Policy Bazaar. It continues to make investments in new-age startups — both from its balance sheet and early-stage fund Info Edge Ventures.
Rohan Mathur, Executive Vice President and Business Head, Info Edge, said, “We are happy to announce our acquisition of Aisle. The matchmaking ecosystem in India has been witnessing a shift in the last couple of years, and this partnership will help us redefine and grow the overall category and establish Info Edge as a leader.”
Over the last two years, Aisle saw a 100 percent growth in its member base, and the company achieved this with the help of a lean team of 24 employees.
Keeping in mind the rising popularity of high-intent dating in smaller cities, the company also launched ‘Arike’ — India’s first vernacular dating app for Malayalees residing in and out of India. Following the success of Arike, the Bengaluru-based startup launched ‘Anbe’ and ‘Neetho’ for Tamil and Telugu audiences, respectively.