VALLETTA, Malta, Dec. 4, 2019 /PRNewswire/ -- Dating.com Group, one of the leading social discovery companies globally and an umbrella brand for more than 15 projects, including Dating.com, Dil Mil, Lovinga, Tubit, TripTogether, announced its plans to focus on expanding its influence on the Asian market in 2020 during regular board meeting in Malta.The online dating market is expected to grow by nearly 7 percent through 2023. Dating.com Group is particularly well-positioned to capture a significant portion of that growth.
Dating.com Group recently announced its acquisition of a 100% stake in Dil Mil via a combination of cash and Dating.com Group stock. The deal valued the company at up to $50 million. Dil Mil is the top-grossing app in its category with over 1 million users in the US, UK, and Canada. CEO KJ Dhaliwa will continue to manage the company, and also joined Dating.com Group's M&A and Strategy committees, as well as its Group Advisory Board.
Jev Golinejs, Dating.com Group CLO, said: "The deal with Dil Mil has increased the profit of Dating.com Group at up to $250 million and will make it one of the three most profitable groups all over the world. We believe that there is still tremendous room for growth and plan to expand our influence in the Asian market by bringing out expertise to other niche dating apps."
Alexandr Sityakov, Dating.com Group CFO, added: "We achieved great results in 2019 in Asia and the U.S., which are our key markets. Looking forward, we plan to strengthen our influence in the Asian market due to the consolidation with local players. We see huge growth potential there - the online dating market is worth $426 million in Asia and is expected to grow significantly."
About Dating.com Group
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 more than 500 professionals with more than 73 million registered users across the entire portfolio. Brands include Dating.com, DateMyAge, LovingA, Tubit, AnastasiaDate, ChinaLove, and many more, each with a unique platform tailored to different communities defined by interest, geography and demographics.
SOURCE Dating.com Group