Chennai: Matrimony.com, a leading online matrimony company, on Wednesday announced that it has signed definitive agreements to acquire a 100% stake in Boatman Tech Private Limited, promoters of ShaadiSaga.com, which is a Delhi-based fast-growing online wedding services company.
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. Matrimony.com has a foothold in the wedding services industry and has made continued investments in this space to build a portfolio of offerings including WeddingBazaar.com and Mandap.com. This deal will help the company scale up its presence significantly in the North and West regions and strengthen its product capabilities.
“Wedding Services has immense potential to create a big impact with our customers. 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. With this approach, we believe that this deal will significantly strengthen the positioning of Wedding Bazaar.com and Mandap.com in the industry and will enable both brands to become the number one wedding services brands pan India,” Murugavel Janakiraman, Chairman and Managing Director of Matrimony.com said.
Founded in 2015, ShaadiSaga has over 40,000 vendors across multiple services and caters to customers across 15 major cities in the country. Through digital presence built with strong social media and content marketing, ShaadiSaga has garnered consistent demand (over 1 million MAU).
“We see excellent complementary strengths between ShaadiSaga & Matrimony.com and we are excited to take this step towards building a comprehensive wedding services brand,” said Himanshu Kapsime, Co-Founder & CEO of ShaadiSaga. “With Matrimony.com, we have the potential and ability to significantly scale the business and drive consumer adoption of an industry-leading next-gen wedding planning solution.”