People Group, which owns Shaadi.com, has invested nearly $1 million (about Rs 6 crore) in exchange for 25 per cent stake in mobile dating applications Thrill. The deal is a cash and stock deal.
“While online match-making is already a well-established practice in India, dating is also gaining a lot of popularity with the Indian youth. The Thrill app packs in loads of innovation that’s ‘Made for India’, and already has built a strong appeal with young India,” said Anupam Mittal, Founder and CEO of People Group.
"We were told that India is conservative and wasn't ready for something like this, but with fewer opportunities to go out and explore meeting someone, there is a huge demand for this segment. No one was building a dating app focused on India, but with the growing smart phone market and shifting user mindset, we are witnessing a tremendous response for Thrill,” said Josh Israel, co-founder of Thrill.
Thrill was co-founded by Josh Israel and Devin Serago, both entrepreneurs who have re-located from the US to New Delhi.