07 Dic Internet dating giant Match Group acquires Egyptian dating startup Harmonica to expand into Muslim-majority markets
Match Group, the internet giant that is dating a market limit of over $20 billion that owns various dating sites and apps including Tinder, OkCupid, PlentyOfFish, and Match.com has obtained Egyptian internet dating startup Harmonica, the Dallas-headquartered business announced today in a declaration to MENAbytes, without disclosing economic information on the deal.
Created at the beginning of 2017 by Sameh Saleh, Tamer Saleh, Shaymaa Aly & Aly Khaled, Harmonica’s app that’s carefully created for Muslims helps users locate a prospective life partner. The software, being a declaration by Match Group records, approaches matchmaking that is mobile respect to neighborhood traditions and countries.
You are able to find out more information regarding how a application works in this piece we’d written year that is last.
“Sameh founded Harmonica after witnessing their cousin as well as other family relations make an effort to meet prospective husbands through the arranged marriage process. He thought technology could facilitate significant relationships and empower singles to meet up their future life lovers, but there have been no services and products serving their community or handling more conservative social norms,” the business explained in a declaration.
Match Group is acquiring the Egyptian startup to serve 33 countries in Asia and MENA which have a big population that is muslim. Harmonica’s little group of 12 full-time workers (such as the founders) is joining the US business included in the purchase and can evidently work with an English app along with Harmonica presently comes with an app that is arabic-only. Harmonica, per declaration, will remain headquartered in Cairo, with Sameh Saleh continuing as CEO. It will likely be Match Group’s very first workplace in the center East.
The US business using this purchase would be dealing with different (reasonably smaller) players which were wanting to re re re re solve the situation of online dating sites for Muslims, with YC-backed Muzmatch that recently raised $7 million Series A, being the absolute most one that is prominent.
Sameh Saleh, co-founder and CEO of Harmonica, stated, “Two years ago, we founded Harmonica with this siblings, cousins, and buddies in your mind, using the aim of assisting them find a partner that is perfect. It had been critical that everything we built had been one thing to guard them and express the values our community cares profoundly about. It absolutely was also essential our moms and dads will be confident with them utilizing our app.”
“We’ve already facilitated a huge selection of marriages just in Egypt and believe with Match Group’s vast experience, you will find exciting possibilities ahead,” he included.
Mandy Ginsberg, CEO of Match Group, stated, “As we think of worldwide development and expansion, you will find huge populations of young singles — mostly across Asia plus the Middle East — that’ll be to locate their life lovers within the future that is near and that aren’t precisely offered by Western items”
“The Harmonica team is not just smart and revolutionary, but has generated a very differentiated and technologically impressive product that, although early-stage, undoubtedly knows the requirements of this tradition. We think we’ve discovered talent that is great with neighborhood expertise and insights which will help us further fl
ish in our worldwide expansion strategy,” she included.
Harmonica ended up being backed 500 Startups (it had been element of their accelerator that is global Flat6Labs Cairo.
Both the investors with this specific purchase have actually completely exited the startup that is egyptian. It will be the very very very first exit that is high-profile Flat6Labs, one of many earliest and leading accelerators regarding the area.
Ramez El-Serafy, CEO of Flat6Labs, commenting regarding the event, stated, “From time one we’ve had significant amounts of rely upon Harmonica’s talented group, and their truly innovative wedding matchmaking application; and now, we’re delighted that Match www.foreignbride.net/iceland-brides/ Group is sharing exactly the same self- confidence in going ahead with this specific deal that is remarkable. This deal marks the initial flat6Labs that are major with significant comes back on investment in only over one year.”
Harmonica previously this 12 months had additionally accompanied tech Innovation and Entrepreneurship Center’s incubation program. The startup had finished from TIEC’s incubator last thirty days.