Chinese dating site ipo
Significantly smaller but potentially more lucrative than IAC is a pure-play online dating company which operates more narrowly focused networks such as Christian Mingle.com, Single Parents and
Last month, Spark Networks reported a 28% boost in year-over-year revenue and a 30% increase in paying subscribers.
Despite the software claims its key features to assist users making friends and broadening their social networks, it has gained a salacious reputation today, as Chinese people tease it as "a magical tool to get laid".
In February, 2014, the company announced that registered accounts in Momo had exceeded 100 million, with 40 million monthly active users by the time.
DEA, a Guangdong province-based aviation parts and electronics maker, said in a disclosure filing that it plans to acquire 100% of Zhenai via new share issuance after Zhenai completes the process of dismantling its variable interest entity (VIE), a legal structure permitting foreign investors to hold a stake in a Chinese Internet company.
in a deal that values the former company at around 0 million USD.
Momo was recently valued at around US billion in a private fundraising, according to the WSJ report.
One and a half years ago, an earlier fundraising pegged the Momo's market value at around US0 million, said the report, adding that the Chinese e-commerce giant Alibaba Group Holding is also an investor in Momo.
Despite doubling the number of active paying accounts since 2010, the stock has cratered in the past month.
Given what's been a difficult year for emerging market stocks and China, in particular, is one name I wouldn't court.
The company also registered around RMB1 billion (US5 million) in revenues and around RMB100 million (US million) in net profits in 2016.