Internet dating giant Match Group acquires Egyptian startup that is dating to expand into Muslim-majority markets
Match Group, the internet giant that is dating a market limit of over $20 billion that owns different dating web 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 statement to MENAbytes, without disclosing monetary information on the deal.
Created during the early 2017 by Sameh Saleh, Tamer Saleh, Shaymaa Aly & Aly Khaled, Harmonica’s app that’s carefully created for Muslims helps users look for a life partner that is potential. The software, as being a statement by Match Group records, approaches matchmaking that is mobile respect to regional traditions and countries.
You can easily find out more information about the way the application works in this piece we’d written this past year.
“Sameh founded Harmonica after witnessing their sibling as well as other family relations try to meet prospective husbands through the marriage process that is arranged. He believed technology could facilitate relationships that are meaningful empower singles to meet up with 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 provide 33 nations in Asia and MENA which have a big Muslim population. Harmonica’s little group of 12 full-time workers (like 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’ll be Match Group’s office that is first the center East.
The US business using this purchase should be accepting different (fairly smaller) players which have been attempting to re re re solve the situation of internet dating for Muslims, with YC-backed Muzmatch that recently raised $7 million Series A, being probably the most prominent one.
Sameh Saleh, co-founder and CEO of Harmonica, stated, “Two years ago, we founded Harmonica with this siblings, cousins, and buddies in your mind, because of the objective of assisting them locate a partner that is perfect. It had been critical that everything we built ended up being one thing to safeguard them and express the values which our community cares deeply about. It absolutely was also essential which our moms and dads will be more comfortable with them utilizing our app.”
“We’ve already facilitated a huge selection of marriages simply in Egypt and genuinely believe that 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 macedonian wife expansion, you can find huge populations of young singles — mostly across Asia while the Middle East — that’ll be interested in their life lovers within the future that is near and that are not precisely offered by Western services and products”
“The Harmonica group isn’t only smart and revolutionary, but has generated a very differentiated and product that is technologically impressive, although early-stage, undoubtedly knows the requirements of this tradition. We think we’ve discovered great skill, with neighborhood expertise and insights that will assist us further succeed in our worldwide expansion strategy,” she included.
Harmonica ended up being backed 500 Startups (it had been element of their international accelerator) and Flat6Labs Cairo.
Both the investors with this specific purchase have actually completely exited the startup that is egyptian. It’s the 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; now, we’re delighted that Match Group is sharing similar self- confidence in going ahead using this remarkable deal. This deal marks the very first major Flat6Labs exit with significant comes back on investment in only over one year.”
Harmonica earlier in the day this 12 months had additionally joined tech Innovation and Entrepreneurship Center’s incubation program. The startup had finished from TIEC’s incubator month that is last.