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Shaadi.com owner has a million-dollar date with Thrill

People Group, which owns matrimonial site Shaadi.com, has bought
about 25% stake in dating applications maker Thrill in a cash and stock deal valued at
close to $1 million, reports the Economic Times.

People Group, which owns matrimonial site Shaadi.com, has bought
about 25% stake in dating applications maker Thrill in a cash and stock deal valued at
close to $1 million, reports the Economic Times.

Mumbai-based People Group, which also owns real estate
portal Makaan, has reportedly also merged its dating platform Fropper with
Delhi-based Thrill Applications, a wholly-owned subsidiary of Thrill.

“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,” Anupam Mittal, Founder and CEO of People
Group, told the Economic Times.

Founded in 2012 by Americans Devin Serago and Josh Israel, Thrill is a
dating app which claims to have had over 1,00,000 downloads of its app in
India, will now get over six million members from Fropper.

“Fropper generates cash of over Rs 1.5 crore a
year which we will plough back into growing both platforms,” Josh Israel
was quoted in the report as saying.

Thrill also has seed investors such as Qyuki
co-founder Samir Bangara, CA Media COO Rajesh Kamat, and Singapore-based
investment advisory firm Taurus Value Creation.

Thrill, which is solely focused on the Indian market, competes with
dating apps Tinder and Krush.

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,” Mittal of Shaadi.com, was quoted in
the report as saying.

However, trust amongst Indian women about dating apps is still low.
“We are 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,” Israel told the Economic Times. The
app has also started audio verification.

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