Acquisitions

Grindr Eyed By Italian App Company Bending Spoons

Acquisitions
  • Wednesday, February 12 2020 @ 11:11 am
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Bending Spoons

Dating app Grindr, currently owned by Chinese company Kunlun Tech, might be off the market soon thanks to a bid by the Milan-based app design company Bending Spoons.

According to Global Dating Insights, Bending Spoons has offered $260 million for the popular gay dating app, headquartered in West Hollywood. Reports are also linking investment firm H14 to the deal, which is headed up by Barbara, Eleonora, and Luigi Berlusconi, children of Italy’s former prime minister Silvio Berlusconi. The app’s original founder Joel Simkhai sold his company for $93 million to Kunlun Tech in 2016

Eric Eichmann Named CEO of Spark Networks

Acquisitions
  • Thursday, December 12 2019 @ 09:38 am
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New Spark Networks CEO Erich Eichmann  is on the left beside board director Jeronimo Folgueira
Image: Business Wire

Spark Networks announced that Eric Eichmann will take over as CEO of Spark Networks, replacing Jeronimo Folgueira.

“I could not be more excited to join Spark at this time,” Eichmann said in a statement, published in Yahoo! Finance News. “Spark has a tremendous brand portfolio to help people find love across the globe…I look forward to working with the great team at Spark and leading the next chapter of its development.”

Dating.com Acquires Dil Mil, Popular Ex-Pat Dating App

Acquisitions
  • Thursday, December 05 2019 @ 10:52 am
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Dating.com Group Acquires Dil Mil

Dating.com Group is expanding its suite of dating apps by acquiring Dil Mil, a San Francisco-based dating app that is popular among ex-pats from India and South Asian countries, according to Tech Crunch.

South Asian ex-pats are less interested in arranged marriages, and have turned to dating apps to help find love in the U.S. However, most popular American dating apps like Tinder and OkCupid aren’t culturally appealing to this group of daters, who are more conservative and traditional in their approach to dating.

Andrey Andreev Sells His Stake in Parent Company of Bumble and Badoo

Acquisitions
  • Monday, November 18 2019 @ 10:39 am
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Blackstone Acquires Majority Stake in MagicLab
Blackstone Acquires Majority Stake in MagicLab

Russian billionaire Andrey Andreev is ending his relationship with MagicLab, the company that owns Bumble, Badoo, Chappy and Lumen. Andreev is set to sell his majority stake in MagicLab to Blackstone in a deal that values the company at $3 billion. As part of the transaction, Andreev will step away from the business and Bumble founder Whitney Wolfe Herd will take over as CEO.

In a prepared statement, Andreev said:

Blackstone presented MagicLab with a great opportunity to further develop the brands and platform, and I am confident Blackstone will take MagicLab to the next level in terms of growth and expansion. I am incredibly proud of the company, and of how we have connected millions of people around the world. At MagicLab, I have had the pleasure of working with some of the best and most talented entrepreneurs. My aim now is to ensure a smooth and successful transition before I embark on a new business venture in search of innovative leaders with new and exciting ideas. I am grateful for all the support of my partners and employees over the years as we couldn’t have gotten to this point without them. I wish MagicLab and Blackstone every success.

Match Group Acquires Egyptian Dating Startup Harmonica

Acquisitions
  • Friday, August 30 2019 @ 09:50 am
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Harmonica Logo

Match Group, owner of Tinder, OkCupid, PlentyOfFish and Match.com, has added a new name to its portfolio of dating platforms: Harmonica. The Egyptian online dating startup has been acquired by Match Group for an undisclosed sum.

Harmonica was founded in early 2017 by Sameh Saleh, Tamer Saleh, Shaymaa Aly and Aly Khaled. The app aims to help singles in the Middle East match with potential life partners while respecting the faith, traditions, and culture of the region.

“Two years ago, we founded Harmonica with our sisters, cousins, and friends in mind, with the goal of helping them find a perfect partner. It was critical that what we built was something to protect them and represent the values that our community cares deeply about,” Sameh Saleh said in a statement. “It was also important that our parents would be comfortable with them using our app. We’ve already facilitated hundreds of marriages just in Egypt and believe that with Match Group’s vast experience, there are exciting opportunities ahead.”

Scruff Owners Complete Acquisition Of Jack’d For Undisclosed Amount

Acquisitions
  • Friday, August 02 2019 @ 08:00 am
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Scruff Aquires Jack'd

Scruff’s parent company, Perry Street Software, has acquired Jack’d in a deal that is expected to make it the largest fully LGBTQ owned-and-operated software company by both revenue and membership. Jack’d will continue to operate as a standalone app.

“For years, we have admired the diverse and global community on Jack’d. Since its launch in 2010, Jack’d has grown to more than 5 million members worldwide,” said Eric Silverberg, CEO of Perry Street Software. “This acquisition will provide Jack’d members with the same combination of technology and active moderation we have developed at Scruff, so that the Jack’d community members will be protected against harassment, spam bots, scammers, and risks while traveling.”

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