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Ilya St
in
Finance
October 21 11:25

SDVentures and SOL Holdings to form Dating.com Group

The SDVentures Venture Fund and the Malta-based management company SOL Holdings have agreed to form a joint venture company, Dating.com Group
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The new group will combine dating services from SDVentures' portfolio: Dating.com, DateMyAge, LovingA, Tubit, AnastasiaDate, ChinaLove and others. The total audience of all services is 73 million registered users. The partners expect the combined company's revenue to exceed $200 million per year.
In return, SDVentures will receive $215 million from SOL Holdings and a stake in Dating.com Group. This is a minority stake with an option to increase it, said co-founder of SDVentures Dmitry Volkov in a conversation with vc.ru.
SOL Holdings has been using intellectual property owned by SDVentures for several years now, and now it buys these services, Volkov explained. "The partnership will allow us to expand our presence in the market and strengthen our global position," said Alla Gubenko, founder of SOL Holdings.
The SDVentures Venture Fund and the Malta-based management company SOL Holdings have agreed to form a joint venture company, Dating.com Group.
For the fund, the main purpose of the transaction is to obtain funds for investment. "SDVentures makes a profit, which can be used for investments, but it does not completely lose its assets, but remains a shareholder of the new company," explained Volkov.
SDVentures has invested directly in projects such as Flo's women's health analysis service, Lingualeo's language learning service, Harbour.Space private university in Barcelona and others.