Liquidity Events
Matrimony.com to acquire wedding services marketplace ShaadiSaga
Chennai-based, publicly-listed online match-making company Matrimony.com is to acquire a 100% stake in New Delhi-based Boatman Tech Pvt Ltd, which owns and operates ShaadiSaga.com, a wedding services marketplace. Founded in 2015, ShaadiSaga has over 40,000 vendors across multiple services and catering to customers across 15 major cities in the country. Post deal, its founders Himanshu Kapsime (CEO) and Manish Garg (COO), along with Niraj Patel (CPO) will join Matrimony.com in senior leadership roles. Veda Corporate Advisors advised Matrimony on the deal. Matrimony.com is building a portfolio of offerings in the wedding services space including WeddingBazaar.com and Mandap.com. The new deal is expected to help it scale up its presence significantly in the north and west regions, strengthen its product capabilities and become the largest wedding services player across the country.
From the Venture Intelligence PE-VC Deal Database: Between Jan-15 and Jul-16, ShaadiSaga raised nearly INR 2 Cr from White Unicorn Ventures, Outbox Ventures and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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