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Nasdaq-listed Match Group explores investment in Indian matrimonial site Shaadi - Report
As reported by ET, in addition to investing in primary equity, another person stated that Match Group may buy out institutional shareholders.
Match Group, an American internet and technology business with a Nasdaq listing, is in advanced talks with Shaadi.com about making a strategic investment in the Indian company, according to sources with knowledge of the situation, reported Economic Times.
The primary topics of conversation are Shaadi.com and Match.com. With a market capitalization of $11.85 billion, Match Group is home to dating applications like Tinder, Hinge, Match, Meetic, OKCupid, Plenty of Fish, and OurTime.
According to one of those cited above, "Match Group and Shaadi.com have had several rounds of strategic negotiations over the past month and are currently at the final stage of discussions where economics are being considered."
In addition to investing in primary equity, another person stated that Match Group may buy out institutional shareholders. This person stated that "the precise financial terms and arrangement are still to be ascertained."
Anupam Mittal, the founder of Shaadi.com, declined to comment. The Match Group stated in an email that it does not address rumours.