After the recent news about the departure of Badoo and Bumble and Badoo, there is further consolidation in the dating app space. It seems like a lot of dating apps are running for outings ahead of the Facebook dating launch.
Dating.com group, an investment by SDVentures, acquired Dil Mil, a San Francisco-based dating app for expats from India and other South Asian countries. The acquisition was made through a combination of cash and shares of the Dating.com Group. 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 the Dating.com Group’s M&A and Strategy committees, as well as the Dating.com Group Advisory Board.
Dil Mil has effectively become Tinder For South Asians, it has over 1 million users in the US, UK, and Canada, and has spread its influence through both the app and events, music, and art. He has campaigned with Bollywood superstars like Shilpa Shetty, “Love is” with influential South Asian leaders, and events like the Sessions Music Festival in New York City.
The Dating.com group’s portfolio 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 am glad that 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, we wanted to partner with a strong strategic player in this space. “
The idea for Dil Mil came to her when she realized that her friends and family were having a hard time finding a mate. He saw an opportunity to build a modern, reliable and secure platform specifically for South Asians to connect with each other. Existing methods, such as arranged marriages, were out of date, while the services offered by other apps were simply not culturally appropriate.
Maria Sullivan (Group Vice President for Dating.com and Director of the Board of Dil Mil) commented: “The Dating.com Group sees great potential in the Indian and other South Asian markets. The small but talented team at Dil Mil managed to build the leading company in its niche. The team will continue to run the company, while the Dating.com Group will provide additional resources to help Dil Mil grow even further. The Dating.com Group plans to continue acquiring successful companies in the social discovery space. “
On average, Indians have the highest rate of household income and graduate education among foreign-born populations in the United States. The Indian diaspora is the largest in the world (30 million people). Continued growth is also expected as India is on track to have the world’s largest population, overtaking China around 2027.
