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SDVentures merges data with SOL Holdings to form the new Group

As part of the deal, SDVentures will receive $215 million in cash and equity in the new Group.

generic online dating app
Image: Unsplash

With 40% of Americans using the internet and various apps for dating, it’s no surprise to see more companies, venture capitalists, and holding companies inserting themselves into the field.

Such is the case with this latest data merging between SDVentures and SOL Holdings. Announced this week in a press release, SDVentures will merge its dating and social discovery products with SOL Holdings, an online entertainment and communications holding company.

As part of the deal, SDVentures will receive $215 million in cash and equity in the new Group.

Dmitry Volkov, who founded SDVentures, notes that he “plan[s] to dedicate a significant amount of [his] time and energy to the development of Group, the new conglomerate. [The] goal is to focus on the growth and promotion of new projects, as well as on investments, particularly in technology companies.”

With the merger, the Group will become of the largest companies in the world in the dating and social discovery industry in Europe, Asia, and North America. Its annual revenue exceeds $200 million. In total, 73 million registered users are present across its various brands which include, DateMyAge, AnastasiaDate, ChinaLove, and more.

Read the full press release here.

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Chris has been blogging since the early days of the internet. He primarily focuses on topics related to tech, business, marketing, and pretty much anything else that revolves around tech. When he's not writing, you can find him noodling around on a guitar or cooking up a mean storm for friends and family.

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