For Rs 91 crore, InfoEdge bought 76% shares in the dating app Aisle. With popular apps like Aisle and Jeevansathi, the public IT brand InfoEdge wishes to boost its offering in the matchmaking sector with the acquisition.
The funding will go toward strengthening Aisle’s position in India’s high-intent dating sector. According to an official handout, Able Joseph, the Founder and CEO of Aisle, will continue to run the company with the help of InfoEdge’s bigger infrastructure and ecosystem.
“While most of our competitors concentrated on engagement through gamification, we went against conventional wisdom and focused on churn. We optimised our products for our members to meet someone special and exit the platform. While this decision made it difficult to raise venture capital, the success stories and word-of-mouth helped us stay in the race and become the market leader in high-intent dating. By partnering with InfoEdge, we now have a real shot at becoming the numero uno dating company in India,” Able Joseph, Founder and CEO of Aisle, stated.
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Rohan Mathur, Executive Vice President & Business Head, InfoEdge counted, “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.”
InfoEdge is one of India’s enormous tech public corporations, with pioneering Internet platforms like Naukri, Jeevansaathi, 99 Acres, and Shiksha. They were also early investors in Zomato and Policybazaar, and they continue to invest in new-age start-ups from both their balance sheet and their early-stage fund, InfoEdge Ventures.
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“Keeping in mind the rising popularity of high-intent dating in smaller cities, the company has also established ‘Arike’, India’s first vernacular dating app for Malayalees residing in and out of India. The victory of Arike led to the launch of ‘Anbe’ and ‘Neetho’ for Tamil and Telugu audiences, respectively,” as per a company report.
Aisle declares that its membership base has grown by 100 percent in the last two years, even though the business only having 24 staffers.
