Following the recent news about the Badoo and Bumble and Badoo exit there is more consolidation in the dating app space. It seems many dating apps are running for the exits ahead of the launch of dating on Facebook.
The Dating.com Group – an investment of SDVentures – has acquired Dil Mil, a San Francisco-based dating app for expats from India and other South Asian countries. The acquisition was via a combination of cash and Dating.com Group stock. 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 Dating.com Group’s M&A and Strategy committees, as well as the Dating.com Group Advisory Board.
Dil Mil has effectively become the ‘Tinder for South Asians’, has over 1 million users in the US, UK, & Canada, and has spread its influence both via the app, as well as events, music, and art. It’s run campaigns with Bollywood superstars like Shilpa Shetty, “Love is” with leading South Asian influencers, and events like the Sessions Music Festival in New York City.
The portfolio of Dating.com Group 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’m glad 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 entering, we wanted to partner with a strong strategic player in this space.”
The idea for Dil Mil came to him after he realized his friends and family were having a hard time finding partners. He saw an opportunity to build a modern, reliable, safe platform specifically for South Asians to connect with each other. Existing methods like arranged marriages were outdated, while services offered by other apps were just not culturally appropriate.
Maria Sullivan (Vice President of Dating.com Group & Board Director at Dil Mil) commented: “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. 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.”
On average, Indians have the highest family income and postgraduate education ratio among foreign-born populations in America. The Indian diaspora is the largest in the world (30 million people). Continued growth is also expected since India is on pace to have the world’s largest population, surpassing China around 2027.