Dating.com Group will be the sole owner of two entities’ dating projects. Dating.com Group will have offices in seven countries and a team of more than 500 professionals.

Dating.com Group joint holding aspires to become one of the largest global companies in dating and social discovery industry targeting European, Asian and American markets. The holding is expected to have an annual revenue exceeding US$200m and counts more than 73 million registered users across the brands including Dating.com, DateMyAge, LovingA, Tubit, AnastasiaDate, ChinaLove, and more.

“Without a doubt, the deal between SDVentures and SOL Holdings not only increases the capitalisation of our company, but also takes us to a new level. Partnership with SDVentures and Dmitrii Volkov will allow us to expand our market presence and strengthen our global positions,” says Alla Gubenko, founder of SOL Holdings.

“I plan to dedicate a significant amount of my time and energy to the development of Dating.com Group, the new conglomerate. SDVentures does not currently plan to sell any other assets. Our goal is to focus on the growth and promotion of new projects, as well as on investments, particularly in technology companies,” says Dmitry Volkov, the founder of SDVentures.

Mr Volkov plans to reinvest the funds in technology companies and startups. Since the foundation of SDVentures in 1998, the holding has been engaged as a limited partner — mostly an institutional investor who commits capital to a venture fund — in venture funds such as Khosla Ventures, DCM Ventures, JVP, Blockchain Capital, Oaktree Capital, Mangrove Capital Partners, DN Capital, 500 Startups and others.

Mr Volkov’s direct investments have included technology companies such as Flo Health, Grabr, LinguaLeo, Layer, Academia, Halo Neuroscience, Patreon, Sunflower, Fable, and Harbor Space University, according to the press statement. Mr Volkov is also a general partner — the venture capital partner of the management company — of Gagarin Capital, a venture capital firm investing in AI projects in the Silicon Valley, CIS countries and Asia, the press statement adds.

SDVentures — headquartered in Gzira, Malta — is an international holding company that owns brands across 20 countries, mostly in the online space. SOL Holdings is an international internet-holding company headquartered in Malta. SOL specialises in the creation of websites, where people from different countries can expand their social and business connections.

EDITORIAL NOTE: The original lead suggested that SOL Holdings purchased SDVentures. The lead was rephrased after the issuer of the press release clarified that SOL Holdings only purchased a part of SDVentures’ assets.

The post SDVentures-SOL Holdings merger to create Dating.com Group first appeared on The Malta Business Weekly.

The group is managed by SOL Networks, which is an umbrella brand for more than 15 projects including Dating.com, Lovinga and Tubit.  

“Operating SOL Networks from Malta has not just been enjoyable; I believe it has been crucial to our success,” board director Alla Gubenko told Business Malta.

“Our businesses are all about connecting with people, and being headquartered in Malta lets us do just that. The business climate is ideal, the location offers access to European and emerging markets, and the government is extremely supportive. We couldn’t be happier or more excited about the future,” Ms Gubenko told BM.

Dating.com said it has noticed that dating app users are increasingly “uninterested or unimpressed” with swiping left or right when deciding whom they would or would not like to date with. Therefore, the platform added a live streaming service to its array last year, to allow members to communicate and interact with more matches at once. 

“We are committed to continuing to lead the way in helping people make genuine, lasting connections around the globe,” said Alla Gubenko, board director in Dating.com Group.

“Focusing on business development and technology investment represents the best way to increase the quality of the industry generally and the capitalization of our company specifically. To that end, we are excited to help produce the next generation of live-streaming products and to acquire IP products in the near future,” Ms Gubenko added. 

“We are one of the fastest-growing companies in Malta and operate a global social discovery platform Dating.com Group. It enables people from around the globe to connect through the power of shared interests and mutual benefits. The group’s brands include Dating.com, DateMyAge, LovingA, Tubit, AnastasiaDate, ChinaLove. We have more than 73 million registered users across the globe,” Ms Gubenko.

SOL Networks is an international internet-holding company headquartered in Malta. Dating.com Group has offices in seven countries and a staff of more than 500 with more than 73 million registered users across the entire portfolio.

EDITORIAL NOTE: The present article has been updated with Anna Gubenko’s comments about the role of Malta in the operations of the group.

The post Dating.com pledges to invest in tech further first appeared on The Malta Business Weekly.

SOL Networks is an umbrella brand for 15+ projects. The board of Dating.com took this “strategic” decision, during the board meeting in Malta in the spring of 2019. The group plans to expand through mergers and acquisitions (M&A) deals, which will be announced in the near future.  

“Countless dating startups have popped up in recent years and we are eager to find ones that are a good fit for Dating.com Group’s ambitious goals,” said Alla Gubenko, board director in Dating.com Group. “Our key markets are Asia and the US, for their growth potential. We would love to make deals with companies targeting those areas in creative ways,” he added.

The company is developing its inorganic investment strategy and is looking to partner with early and late-stage companies in online dating, social interaction and live streaming markets, according to the press release.

Group anticipates expanding markets

Dating.com Group expects the market to grow to $3.74b in developed markets, with future growth expected in developing markets, speakers of the group announced during GDI Singapore Dating Conference 2019 – Global Dating Insights held on 13-14 May, based on research they carried out.

For instance, in China, dating companies have earned around $50m in revenue from mobile application downloads. In India, online dating platform Tinder was the top-grossing app on Google Play and the second-highest on Apple’s App Store at the end of 2018.

“The iPhone’s disruptive potential cannot be overstated. The way people conduct their lives and interact is evolving. Companies must provide creative, tailored solutions to prosper in the next decade,” said Yuri Papadin, Head of M&A and Corporate Development at Dating.com Group.

Focusing on app improvements, the research also revealed that customers are looking for more than “superficial pictures” usually posted on such platforms and the swiping-nature of selecting date parties. Therefore, Badoo — another dating platform — is preparing to switch “swiping” for live streaming after a survey of users found that 68% dislike swiping. Tinder has also partnered with Foursquare to set up “real-life” dates, the press statement says.

“It was great sharing our insights at the GDI conference. Since the market may be cooling a bit, it is more important than ever that companies do their homework and tailor dating platforms to a specific niche,” said Maria Sullivan, the head of the Dating.com Group’s New York office.

Dating.com Group is a global social discovery platform, enabling people from around the globe to connect through the power of shared interests and mutual benefits. Dating.com Group has offices in seven countries and a team of over 500 professionals and over 73 million users.

SOL Networks is an international internet-holding company headquartered in Malta. It specialises in the creation and promotion of websites where users can expand their social and business connections.

The post Dating.com to dip toe in expanding US, Asian markets first appeared on The Malta Business Weekly.