According to a livemint report, People Group, which runs Shaadi.com, intends to begin its initial public offering (IPO) in the upcoming fiscal year. The online matchmaking site is also considering introducing more verticals in the upcoming weeks, it was noted.
“We are profitable, and we will be IPO-ready in about a year, so this is a good place to be. Anupam Mittal, the founder and CEO of Shaadi.com, was quoted in the report as saying, “However, we don’t need financing right now.
“We’ve been experimenting for a year, and we’re about to unveil these new verticals. On Shaadi.com, we’ll facilitate interactions and create dialogues that go beyond chats and SMS. Customers would have access to these real-time capabilities, according to Mittal, who was quoted in the article. The app’s use case will be considerably expanded, increasing its stickiness.
One of the biggest digital matrimony services in India, Shaadi.com is run by People Interactive India Pvt Ltd, a division of People Group. Its listed competitors include Matrimony.com Ltd, which runs Bharat Matrimony, and Info Edge (India) Ltd, which runs Jeevansathi.com. Matrimony.com was listed in 2017, whilst Info Edge was listed in 2006.
Shaadi.com is another business in India that is trying to go public in the upcoming 12 months. Only Delhivery has had its IPO thus far this year, compared to 11 firms that went public last year.
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