Alibaba dating services
Please note that some of these numbers are easier to find than others.
announced on Monday that they will be acquired by a subsidiary of competitor Baihe Network Co.The matchup caps of a year of mergers and acquisitions between Chinese tech companies including giants Didi-Kuaidi, Meituan-Dianping and Ganji-58 Baihe has previously indicated they intend to list locally.Jiayuan also joins a host of Chinese tech companies that have made plans to de-list from the U. was founded in 2003 by Haiyan Gong, who was completing a Masters degree in Journalism at Fudan University.According to their website, Gong recognized a need for an online dating service for “busy students and young professionals in a rapidly urbanizing China.” reported an average of 5.5 million active user accounts and 1.5 million paying user accounts per month, according to their their 2015 Q2 financial results.in a deal that values the former company at around $250 million USD.The matchup between Jiayuan and Baihe’s Love World Inc.
is expected to close in the first quarter of 2016, after which Jiayuan will be removed from the NASDAQ.
Baihe will fund the deal through $23.4 million USD in cash, and private placement of shares or bank loans.
The Western expansion of the Chinese digital mega-companies is underway with companies like Weibo making their Wall Street a few weeks ago and others looking to expand beyond their APAC bases.
One of these gigantic companies is the Chinese digital shopping conglomerate Alibaba who is now on the fast track to an American IPO.
(who coincidentally owns a sizable stake in Weibo) is often referred to as the Chinese Amazon (without the fulfillment element).
With stats like the ones below, one can understand the general comparison.