Mumbai-based People Group, which owns matrimonial portal Shaadi.com, has bought about 25% stake in Delhi-based dating applications maker Thrill in a cash and stock deal valued at close to USD 1 million. As a part of the deal, People Group has merged its dating platform Fropper with Delhi-based Thrill Applications. “We have combined our dating business Fropper with Thrill, making it the largest entity in the online dating space in India from users and revenue perspective,” said Anupam Mittal, founder and chief executive of People Group.
Founded in November 2012 by Devin Serago and Josh Israel, ThrillApp had previously raised an undisclosed amount led by Qyuki co-founder Samir Bangara, CA Media COO Rajesh Kamat, and Singapore-based investment advisory firm Taurus Value Creation.
Thrill is currently focused on Indian market, and competes with dating apps Tinder and Krush. The app has a number of features such as Men can’t automatically join the Thrill network, as they have to be voted in by Thrill’s community of women to join in, hence includes a tagline – He applies, She decides. It is currently available for both Android and iOS users and after merger with Fropper it will now get over 6 million members of Fropper.
With the stake acquisition, Shaadi plans to reduce the product development life cycle for Thrill.
“Core competencies required for success in both are similar. Being able to acquire customers at a reasonable cost, keeping them engaged and monetising them, are all things Shaadi has learned over the years,” said Anupam Mittal of Shaadi.
The company is also releasing a feature this month whereby women will have the ability to request a video verification from a male match. If the man accepts, the app will turn his camera on, but not hers.Category Business Investments