Matrimony.com to obtain 100 pc stake in ShaadiSaga
By MYBRANDBOOK
Matrimony.com has announced signing definitive agreements to acquire a 100 percent stake in Boatman Tech - the promoters of ShaadiSaga. The transaction is subject to customary closing conditions and regulatory approvals.
In addition to being in the online matchmaking space, Matrimony.com claims to be a pioneer in the wedding services industry as well as it has invested in this space and built a portfolio of offerings, including WeddingBazaar.com and Mandap.com.
Murugavel Janakiraman, Chairman and Managing Director of Matrimony.com, says, “With this strategic acquisition, we will accelerate our growth through supply enhancement and superior product capabilities. We intend to integrate ShaadiSaga’s product, technology, and social media assets with our offerings i.e., WeddingBazaar.com and Mandap.com.”
This deal enables Matrimony.com to 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.
Following this acquisition, ShaadiSaga’s founders - Himanshu Kapsime (CEO) and Manish Garg (COO), along with another key leader, Niraj Patel (CPO) - will join Matrimony.com in senior leadership roles.
Himanshu Kapsime, Co-founder and CEO of ShaadiSaga, says, “We see excellent complementary strengths between ShaadiSaga and Matrimony.com, and we are excited to take this step towards building a comprehensive wedding services brand. With Matrimony.com, we have the potential and the ability to significantly scale the business and drive consumer adoption of an industry-leading next-gen wedding planning solution.”
“With Matrimony.com’s decades of expertise, scale and resources, I am confident that we will be able to offer a superior experience for our customers and will be a strong partner to wedding vendor partners we work with,” adds, Manish Garg, Co-founder and COO of ShaadiSaga.
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