Info Edge Takes 76% Stake in Aisle for Rs 91cr

KOCHI:
Aisle, India’s leading high intent dating app, has attracted a new partner – renowned Info Edge – which has acquired 76 per cent stake in the company spending Rs 91 crore.

Info Edge is among the largest tech public companies in India and operates pioneering internet platforms such as Naukri, Jeevansaathi, 99 acres, and Shiksha among others.

The funds will be used to further strengthen Aisle’s position in the high-intent dating market in India, according to Malayalee entrepreneur Able Joseph, Founder & CEO of Aisle.

Born to Sheba Eldho and Eldho Joseph, Able was fascinated by entrepreneurship very early and wanted to build something meaningful for Indians. Aisle is one of the very few B2C product start-ups started by a Malayalee.

Owing to lack of platforms for single Indians to meet and connect independently, Able launched Aisle in 2014. Keeping in mind the rising popularity of high intent dating, the company launched ‘Arike’, India’s first vernacular dating app for Malayalees residing in and out of the country. The success of Arike led to the launch of ‘Anbe’ and ‘Neetho’ for Tamil and Telugu audiences, respectively. With over 7 million members across all its apps, Aisle’s member base has grown by 100 per cent in the last two years.

About the acquisition, Aisle’s Able Joseph said, “While most of our competitors focused on engagement, we went against conventional wisdom and focused on churn. We built products that would help our members meet someone special and exit the platform. By partnering with Info Edge, we now have a real shot at becoming the largest dating company in India. I’m truly hopeful that our story will inspire other budding entrepreneurs in Kerala to take the leap and build global products.”

Info Edge Executive Vice-President & Business Head Rohan Mathur said, “We are happy to announce our acquisition of Aisle. The matchmaking ecosystem in India has been witnessing a shift in the last couple of years and this partnership will help us redefine and grow the overall category and establish Info Edge as a leader.”

Info was one of the early investors in Zomato and Policy Bazaar and continues to make investments in new age start-ups both from their balance sheet and from their early-stage fund, Info Edge Ventures. With both Aisle and Jeevansathi, Info Edge will look to strengthen its offering in the matchmaking segment.