South Asian Online Dating Website TwoMangoes.com Turns Down $500,000 Investment Deal on National TV Show, Dragonís Den
Oakville, Canada, February 13, 2013 --(PR.com
)-- With 1.4 million viewers every week, Dragon’s Den, which airs on CBC, includes 5 high profile investors from various industries, all 5 of whom were interested in investing in TwoMangoes.com.
Dragon’s Den is the highest rated Canadian unscripted program on television in which 5 investors or “Dragons” listen to pitches from Canada’s best entrepreneurs and decide “on the spot” whether they would like to invest in the company or not. The five Dragons in the Den are: David Chilton - Publishing Powerhouse, Bruce Croxon - Internet Mogul, Arlene Dickinson - Marketing Maven, Kevin O’Leary - Investment Guru, and Jim Treliving - Franchise Baron. The episode featuring TwoMangoes.com aired this past Sunday, February 10th at 8pm EST in the special Valentine’s Day episode.
“We’re honored that we were selected to be a part of Dragon’s Den. It was very exciting, especially being able to pitch in front of the likes of Bruce Croxon who co-founded one of the best online dating websites in the world - Lavalife. We were overjoyed when not only Bruce but all 5 dragons wanted to invest in TwoMangoes.com. It showed us that they see the potential in our business to reap worldwide profits,” said co-founder Anita Dharamshi.
After handing out “TwoMangoes” branded products to the judges, the team proceeded to do a live skit based on their viral Youtube commercial entitled “Matrimonial website vs. Online dating site: TwoMangoes.com.” Then, the pitch began with an overall positive and excited reception from the dragons as all investors unanimously agreed to invest $500,000 at 50%. After consulting with the rest of the team and their investor, the TwoMangoes team decided to turn down the money, based on the high percentage of ownership that came along with the deal.
“We are open to investment inquiries from potential investors but we’re in a good position with our business right now so it would have to be the right kind of partner and valuation,” said co-founder Rahul Bhardwaj. “We are seeing tremendous growth in our business and in this market right now, especially in the developing markets like India so it’s a very exciting opportunity for any investor,” adds Dharamshi.
TwoMangoes.com is a worldwide South Asian online dating website with a North American site that caters to English speaking South Asians and an Indian site that caters specifically to India. The majority of South Asians in their twenties from around the world have encountered pressure from outside influences when it comes to their eventual “life partner”. TwoMangoes.com has created a social, friendly and non-invasive platform without the outside pressures of family and marriage where like minded South Asian professionals can chat, and potentially date offline.