Social Discovery Ventures, a global tech company uniting more than 40 brands, an investment fund, and a venture studio, has announced its rebranding to Social Discovery Group. The company’s venture studio is renamed SDG Lab. The new name embodies the company’s growth and its positioning as one of the leading groups of social discovery companies focused on solving the problem of loneliness, isolation, and disconnection with the help of digital reality.
“Social Discovery Group reflects our commitment to evolving and growing as a company, and we believe that the new name better represents who we are and the products we are building,” said KJ Dhaliwal, Chief Strategy Officer of the company.
To date, Social Discovery Group has 11 offices across five continents and a team of more than 700 professionals serving 250+ million users across 100 countries.
Founded in 1993, Social Discovery Group started to shape the future of the dating industry with Dating.com and other online dating platforms. This pool of products was united in Dating Group — a global group of matchmaking services giving people a chance to chat, match up and find love worldwide. Since then, the company has acquired CupidMedia, DilMil, Once, and other niche dating products, each with a unique platform tailored to different communities defined by interest, geography, and demographics. Today, Dating Group is operating more than 40 brands with 75+ million messages sent by their users daily.
Social Discovery Group believes it can leverage its expertise to find and support the next generation of global dating projects with great success. Therefore, it has launched a $50 million VC fund, across the globe, exclusively in the Dating and Social Discovery eco-system. The fund is entertaining multiple levels from Seed rounds to Series B opportunities. S’More and Props products are among the company’s investments.
Possessing deep expertise in the field and working with social discovery visionaries, the company has created its own venture studio SDG Lab building new social and entertainment apps. SDG Lab apps include Journey, XOXO, Magnet, Tubit, Bam Bam, and other products based on new principles of communication and a focus on video streaming, AI technologies, and game mechanics.
The name Social Discovery Group responds to accelerated company growth and its aim to connect people worldwide by building Social Life 3.0.