Dating Group Announces Continued Plans for $50M Venture Fund
“I support SDVentures and its founder Dmitry Volkov in its focus on the future of Social Discovery - including dating, the building of friendly relationships, and enabling the virtual connection of people for entertainment and other purposes,” said KJ Dhaliwal, Chief Strategy Officer of Dating Group.
Largest International Social Discovery Platform Investing in New Technologies
NEW YORK – April 27, 2021 — Dating Group, a forward-thinking social discovery company and owner of popular services that connect people across the world such as Dating.com, DateMyAge, Promise, Tubit, ChinaLove, and Dil Mil, articulated investment plans for its venture fund today.
Dating Group, a company within SDVentures, closed a $50 million corporate venture capital fund in 2020 to continue investing in services and IT companies that meet their mission. By the end of Q1 2021, Dating Group already used some of these funds to acquire a “slow dating” app, Once, for $18M. This was barely 14 months after Dating Group acquired Dil Mil, the popular, growing app used by South Asian expats to meet in the U.S.
These two acquisitions point to Dating Group’s investments in technology that grows and diversifies the potential audience for social discovery platforms, and it’s not just for dating. A forward-thinking tech group of dating and relationship-related businesses, Dating Group is focused on the future of Social Discovery and is investing in ways to create better and more efficiently derived experiences by leveraging technology, data, and user behaviors.
“I support SDVentures and its founder Dmitry Volkov in its focus on the future of Social Discovery – including dating, the building of friendly relationships, and enabling the virtual connection of people for entertainment and other purposes,” said KJ Dhaliwal, Chief Strategy Officer of Dating Group.
“Our strategy includes acquiring innovative companies with a differentiated product-market fit and building products that will create a more robust ecosystem of social discovery. I believe this strategy enables Dating Group to strengthen its leading position. It will not only reinforce our position in the dating market but also within the wider social discovery market,” said Dhaliwal.
Dating Group’s global investment strategy is encapsulated by its acquisition of Dil Mil. The portfolio of Dating.com Group already included numerous niche dating brands beyond Dating.com, including DateMyAge, LovingA, Tubit, ChinaLove, and others. At the time of its acquisition by Dating Group, Dil Mil was already the ‘Tinder for South Asians,’ with more than 1 million users in North America and the UK. Dil Mil spread its influence through the app with links to entertainment via events, music, and art with Bollywood superstars such as Shilpa Shetty, “Love is” with leading South Asian influencers, and events such as the Sessions Music Festival in New York City.
Dating Group is moving full speed ahead with offices in seven countries, a team of more than 500 professionals, and more than 73 million users across their portfolio with products available in almost 100 countries.
About Dating Group
Dating Group is one of the largest Social Discovery companies in the world. Its services enable people around the world to connect and date safely, and also to enjoy entertainment together in virtual communities. Dating Group has offices in seven countries and a team of more than 500 professionals serving more than 73 million users across its portfolio of sites. Its brands include Dating.com, DateMyAge, Promise, Tubit, ChinaLove, Dil Mil, and many more, each with a unique platform tailored to different communities defined by interest, geography, and demographics. Dating Group’s Social Discovery products are available in 100+ countries all over the world and on all platforms. For more information, please visit: http://datinggrp.com/
