Shaadi.com may go public soon, says founder Anupam Mittal

Angel investor and one of the sharks on the popular show Shark Tank India, Anupam Mittal, recently announced that his venture, People Group, that runs the online matchmaking service, Shaadi.com, is mulling over plans to go public. Talking about the venture’s Initial Public Offering (IPO) plans, Mittal said that they are profitable and in “about 12 months,” will be IPO-ready. “And it is a good place to be. However, we do not require capital at the moment,” Mittal said, as reported by Mint. It is interesting to note that the possible IPO that Shaadi.com is gearing up for will be the second try by the platform to go public. The first time that People Group planned on listing itself was in 2009. But the plans got deferred due to reasons unknown. Now, Shaadi.com, considered to be one of the top digital matrimonial services in the country, may try its stint the second time. Shaadi.com runs under the aegis of People Group, a company established by Mittal in 2001, after founding Shaadi.com in 1996. Mittal owns a considerable number of stakes in the company. Besides Shaadi.com, the flagship product, the People Group also runs a real estate website called Makaan.com as well as a mobile gaming firm called Mauj Mobile. As per reports, Shaadi.com has roughly 30 percent stake in the market share, only second to Matrimony.com, operated by Bharat Matrimony, which has roughly 55 percent market share. With IPO plans simmering, Shaadi.com is muscling up to take on its competitors. A part of this process is also the various verticals that the platform is working on and will launch soon. These include services such as Shaadi Live, which will allow users to meet their matches virtually. Talking about the development of these verticals, Mittal said, “We have experimented for a year and will launch these new verticals in the coming weeks. We will bring people together and make conversations on Shaadi.com beyond chats and messages.” According to Mittal, the People Group has turned profitable for a couple of years now. No details regarding the matter are out to the public yet. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.