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With competition getting intense in the domestic market and demand increasing in the international market, online matrimonial site Shaadi.com is looking to expand its overseas reach.
The Mumbai-based site, a part of People Group, is exploring opportunities in the South-East Asian markets like Vietnam and Malaysia, besides developed and unorthodox markets like the US. The company, however, plans to enter the new markets through the inorganic route.
“There is huge opportunity for match-making services in the overseas market and we are looking to make at least 2-3 acquisitions overseas in the next few years,” said Anupam Mittal, Founder and CEO of People Group. He also added that the company has set aside ₹60-70 crore for these acquisitions.
Mittal, who recently invested an undisclosed amount in dating applications maker Thrill, is also looking at acquiring a US-based dating app next month. This acquisition will help Shaadi.com strengthen its position in the US market.
As part of the deal, Shaadi.com has merged its dating platform Fropper with Delhi-based Thrill Applications, a wholly-owned subsidiary of Thrill.
Shaadi.com is already the market leader in the match-making industry where players such as matrimony.com, BharatMatrimony.com, CommunityMatrimony.com, PopularMatrimony.com, among others have witnessed a 50-100% jump in demand for matches from those in the industry within a year.
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