October 15, 2019 -- /PR NEWSWIRE/ -- SDVentures, an international internet holding founded by Dmitry Volkov, will be merging its dating and social discovery products with SOL Holdings, an online entertainment and communications holding, to form Dating.com Group. As a result of the finalized deal, SDVentures will receive $215 million in cash and an equity stake in newly created Dating.com Group.
Dating.com Group joint holding will become one of the largest global companies in dating and social discovery industry targeting European, Asian and American markets with annual revenue exceeding $200 million. It has over 73 million registered users across the brands including Dating.com, DateMyAge, LovingA, Tubit, AnastasiaDate, ChinaLove, and more, each with a unique platform tailored to different communities defined by interest, geography and demographics. Dating.com Group will be the sole owner of two entities' dating projects.
Volkov plans to invest the funds in technology companies and startups. Over the past 20 years, the holding has been actively engaged as a Limited Partner in top-tier venture funds such as Khosla Ventures, DCM Ventures, JVP, Blockchain Capital, 500 Startups and others. Volkov's direct investments include Flo Health, Grabr, Layer, Academia, Halo Neuroscience, Patreon, Sunflower, Fable, and Harbor Space University. Volkov is also a General Partner of Gagarin Capital, a venture capital firm investing in AI projects.
Volkov comments on the deal: "I plan to dedicate a significant amount of my time and energy to the development of Dating.com Group, the new conglomerate. Our goal is to focus on the growth and promotion of new projects, as well as on investments, particularly in technology companies.Alla Gubenko, founder of SOL Holdings on the new partnership: "The deal between SDVentures and SOL Holdings not only increases the capitalization of our company, but also takes us to a new level. Partnership will allow us to expand our market presence and strengthen our global positions."
SDVentures is the international holding company that owns brands across 20 countries. The company's headquartered in Gzira, Malta.
SDVentures has presence worldwide with offices in the USA, Colombia, China, Hong Kong, Morocco and Belarus.
About SOL Holdings
SOL Holdings is an international Internet-holding company headquartered in Malta and specializing in the creation and promotion of the websites, where people from different countries can expand their social and business connections.