About 76% Stake in Dating Startup- Aisle acquired by Info Edge for INR 91 Cr
- ByStartupStory | March 7, 2022
Info Edge- a company backed by Zomato has invested INR 91 Cr in a dating startup- Aisle Network, that runs four dating platforms, including Aisle, Anbe, Arike and HeyDil. Making it the single largest stakeholder, the total share of Info Edge in the startup will rise to 76% in aggregate.
As per the filings, to expand the product portfolio and create further segments across the four platforms that the startup has is the main objective of the investment.
Aisle will be acquired by Info Edge in 2022,for INR 150 Cr, and the same has also been pointed out by the recent developments in January, states reports. A year before, the turnover of Aisle was slightly lower by INR 7.60 Cr, but during the previous financial year, Aisle clocked a turnover of INR 7.56 Cr. In FY20, the startup had turned profitable.
Aisle was founded in the year 2014 by Able Joseph. It is an Indian dating apps startup, and at present it operates four dating platforms under its portfolio. This startup app is for people looking for a serious relationship rather than a casual one and it prefers itself to be called as a ‘high-intent’ dating app.
In early 2021, an undisclosed amount has been raised by the seven-year-old dating app in its Pre-Series A round. The round was led by founder and MD of Hurun India, Anas Rahman, and early-stage investor Konglo Ventures’ founder, Vinod Jose. CIO Angel Network, White Unicorn Ventures, and LetsVenture are also counted to be as its investors.
About ~7x return has been received on investment by the earliest investors in Aisle, says Able.
The popular US-based Tinder, recently NASDAQ-listed Bumble and Hinge has been competed by Aisle in India. Truly Madly, Quack Quack, OkCupid, Woo among others has also been pit against by the platform. The reports states that Aisle saw a rise by 28% in the number of users during the second wave of the pandemic.
In 2025, the revenue generated by Aisle is expected to grow at a CAGR of 14.57% to about $791 Mn. In 2025, the user penetration will increase to 4.3%, anticipates the report.
Follow Startup Story
Related Posts
