Palla Capital has announced the signing of a Letter of Intent (LOI) to acquire all assets and intellectual property of a psychology based dating app startup doing business in the US.
This new platform developed by Palla Capital will offer an innovative dating experience, backed and powered by Artificial Intelligence(AI) and Machine Learning(ML) algorithms, that uses human psychology and the decisions made by humans to deliver a superior product and dating/matchmaking experience for its user community.
This move will mark a significant entry of Palla Capital into this fast-growing digital dating and or matchmaking segment, making the startup the best fit for Palla Capital’s hybrid Venture Capital/Private Equity investment strategy.
Post acquisition, Palla Capital, will hold a 75% direct ownership stake in the startup. The newly developed mobile application will be launched on both iOS & Android platforms.
With Tinder and Bumble holding top rankings for the most popular online dating apps, Palla Capital’s vision is to build an experience for customers to find true love by matching with the right fit for their personalities, based on who they
are as people.
Key Takeaways:
- Online dating platforms aren’t going away anytime soon — their popularity is on the rise, with new users registering every day.
- The majority of online daters claim that it’s “somewhat easy” to find compatible partners.
- Dating app revenue was $5.61 billion in 2021, even though Tinder — the most popular app — has a free version.
- Tinder is the go-to dating platform nowadays, but it has strong competition in rivals like Bumble and Hinge.
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