Dating.com Group acquired a 100% stake in Dil Mil, a San Francisco-based dating app for expats from India and other South Asian countries, via a combination of cash and Dating.com Group stock, according to a press statement sent to Business Malta. The deal values the company at up to US$50m.
Dil Mil has over a million users in the United States, the United Kingdom, and Canada. Dil Mil says it has generated over 20 million matches and averages at least one marriage per day. The app aspires to offer further features, such as events, music and art, encouraging users to establish meaningful relationships.
“When we started Dil Mil, our vision was to empower the world to find love. I’m glad Dil Mil can continue to realise this vision with the support of Dating.com Group,” said Dil Mil Founder CEO KJ Dhaliwal.
“As the dating app market becomes more competitive with companies like Facebook entering, we wanted to partner with a strong strategic player in this space. We believe love is the most powerful force to connect the world and overcome biases and stigmas, so we strive to help everyone find meaningful relationships while strengthening the bonds of our community,” Mr Dhalival added. Mr Dhaliwal will continue to manage the company and will join Dating.com Group’s M&A and Strategy committees, as well as Dating.com Group Advisory Board.
“Dating.com Group sees great potential in Indian and other South Asian markets. Dil Mil’s small yet talented team managed to build the leading company in its niche,” said Maria Sullivan, Vice President of Dating.com Group and Board Director at Dil Mil.
“The team will continue to manage the company while Dating.com Group will provide additional resources to help Dil Mil grow further. Dating.com Group plans to continue to acquire successful companies in the social discovery space,” Ms Sullivan added.