BackShaadi.com eyes global presence, scouts for acquisitions
The company is keen to make inroads into the overseas market through acquisitions
Premium
Mumbai: Online matrimonial portal Shaadi.com has set its sights on building a global presence, and is ‘actively scouting’ for acquisitions in the casual dating and match-making segment.
The company is keen to make inroads into the overseas market through acquisitions and could complete one soon, a company executive said. “We are looking at inorganic growth and are actively scouting for acquisitions in the international market," Gourav Rakshit, the chief operating officer of Shaadi.com, told PTI.
“We are in the process of evaluating various options of inorganic growth, and could complete an acquisition soon," he added. Through its acquisitions, Shaadi.com is looking at diversifying into allied and unorthodox match-making businesses, Rakshit pointed out.
The Mumbai-based portal, owned by People Group, is exploring opportunities in markets including South-East Asia as well as the US, where it will look at match-making and casual dating space, he said. Earlier this year, People Group acquired about 25% stake in the Delhi-based dating application Thrill for about $1 million (about ₹ 6.3 crore).
As a part of the transaction, the group’s dating platform Fropper was brought under Thrill. “In the traditional matrimonial segment, we were surprised to see several parents accessing our services through the mobile of late," Rakshi said. “As part of ongoing efforts, we are working at improving our mobile experience," he added.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
