American Match Group is looking for strategic investment in Shaadi.com: Report
Match.com has multiple brands under its umbrella, including dating apps such as Hinge, Match, Tinder, Meetic, Plenty of Fish, OKCupid, and OurTime, with a market capitalisation of $11.85 billion.
Nasdaq-listed American online dating services company is in advanced talks with matchmaking platform Shaadi.com for a strategic investment.
The discussion mainly involves Shaadi.com and Match Group's namesake brand, Match.com.
The two brands have had several rounds of strategic discussions and are now at the final stage of those discussions, according to the Economic Times.
The specific financial terms and preparations are yet to be confirmed.
The Group may buy out institutional shareholders and invest in primary equity.
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Match.com has multiple brands under its umbrella, including dating apps such as Hinge, Match, Tinder, Meetic, Plenty of Fish, OKCupid, and OurTime, with a market capitalisation of $11.85 billion.
According to Anupam Mittal, founder of Shaadi.com, the company was planning a second attempt at filing its initial public offering (IPO) in September, after more than a decade of pause. The first attempt was made at Shaadi.com in 2009, when the plan was to dilute around 15-20% of the total equity.
Match Group revamped its executive leadership team under CEO Bernard Kim in January. The new structure was intended to maximise profitability, streamline operations, priorities new business opportunities, and enhance growth.
Edited by Affirunisa Kankudti