Parent entity of Jeevansathi, InfoEdge has acquired a 76 per cent stake in the dating platform Aisle for ₹91 crore in an all-cash deal.
With both Aisle and Jeevansathi, InfoEdge will look to strengthen its offerings in the matchmaking segment. The funds will be used to further strengthen Aisle’s position in the high-intent dating market in India. Able Joseph, Founder and CEO of Aisle, told BusinessLine that the company will continue to run Aisle as an independent entity and all team members at Aisle will be retained.
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At the time of acquisition, Aisle had over 7 million members across all its apps and is currently recording a ₹17 crore ARR. Further, talking about decision to go ahead with the acquisition, Joseph said, “to compete better with American players with deep pockets, we needed an investor. VCs look for engagement and retention, while our business is about users finding partners and exiting the platform forever. So a strategic investor made most sense. Who better than a massive public company like InfoEdge, who also runs a large matchmaking product i.e. JeevanSaathi.”
Vernacular dating app
Rohan Mathur, Executive Vice-President & Business Head, Info Edge, added, “We are happy to announce our acquisition of Aisle. The matchmaking ecosystem in India has been witnessing a shift in the last couple of years and this partnership will help us redefine and grow the overall category and establish InfoEdge as a leader.”
Over the last two years, Aisle’s member base has grown by 100 per cent and the company has been able to achieve this with a lean team of 24 employees. Keeping in mind the rising popularity of high-intent dating in smaller cities, Aisle has also launched ‘Arike’, a vernacular dating app for Malayalees residing in and out of India. The success of Arike led to the launch of ‘Anbe’ and ‘Neetho’ for Tamil and Telugu audiences, respectively.
Info Edge is a publicly listed tech company that operates internet platforms such as Naukri, Jeevansaathi, 99 acres and Shiksha. It is one of the early investors in Zomato and Policy Bazaar and continues to make investments in new-age startups both from their balance sheet and from their early-stage fund, Info Edge Ventures.