Views: 29574|Replies: 28

What is the price of real love?   [Copy link] 中文

Rank: 8Rank: 8

Post time 2017-12-2 23:33:20 |Display all floors
Matchmaking service provider Zhenai.com has 140m registered users, with 2017 revenue and net profit expected to reach more than 1.6b yuan and 200m yuan respectively.

Use magic tools Report

Rank: 8Rank: 8

Post time 2017-12-2 23:33:54 |Display all floors

PAG Asia Capital, one of Asia’s largest investment firms has announced that it had closed the deal to acquire a controlling stake in Zhenai.com, China’s largest online matchmaking and dating service provider. The transaction size was not disclosed.


The acquisition would help the firm tap into China’s growing matchmaking business, which is estimated to have reached 9.4 billion yuan (US$1.4 billion) in 2016, and is expected to grow at an annual rate of more than 30 per cent, according to Chinese consultancy Zhiyan.

The mainland is fast becoming a nation of singles as increasingly affluent and free thinking Chinese millennials are less keen to follow in their parents’ footsteps to get married at a young age. But tremendous social pressure has prompted many to look to matchmaking services like Zhenai to find a spouse. Zhen ai in the company’s name means “precious love” in English, and a homophone of “true love” in Chinese.

China has around 200 million single adults, according to the Ministry of Civil Affairs.

Founded in 2005 by Li Song, a former Morgan Stanley executive director, Zhenai.com now boasts of more than 140 million registered users. It is expected to generate revenues of more than 1.6 billion yuan and a net profit of more than 200 million yuan in 2017, according to the company.



Use magic tools Report

Rank: 8Rank: 8

Post time 2017-12-2 23:34:31 |Display all floors





This compared to the 51.4 million yuan in 2015 net profit of Jiayuan.com, a major rival of Zhenai. Jiayuan was bought by Baihe.com, another matchmaking website last year, resulting in the country’s matchmaking business being mainly split among the three companies.

“I am thrilled to have PAG as the controlling shareholder. I am confident that PAG, with its experience and strong track record, will be able to take the company to the next level.” said Li Song in a statement issued jointly by the two companies on Monday.

With US$18 billion in capital under management, PAG has been investing heavily in a wide range of businesses in China, spanning across areas such as industrial gas, consumer credit lending and childcare.

PAG’s partner and chairman, Xiao Suining, has been appointed as chairman of Zhenai after the acquisition, while Li remains a minority shareholder and a director of the board of the company.

“PAG is very pleased to have this opportunity to invest in Zhenai,” said Xiao. “We see tremendous potential to grow and expand Zhenai’s business in China and across Asia.”

Use magic tools Report

Rank: 8Rank: 8

2016 Most Valuable Member Medal Gold Medal

Post time 2017-12-3 07:18:23 |Display all floors
So-called "love" is such a profitable gold mine it should be called "Eldorado".

Use magic tools Report

Rank: 4

Post time 2017-12-3 10:56:11 |Display all floors
To use an old Country and Western phrase-If you have to pay for it, it ain't worth a plug nickel.

Use magic tools Report

Rank: 4

Post time 2017-12-3 10:58:26 |Display all floors


I should know the reason why we set up these activities for single young people's dating.
life is colorful with you.

Use magic tools Report

Rank: 3Rank: 3

Post time 2017-12-3 15:56:48 |Display all floors

Use magic tools Report

You can't reply post until you log in Log in | register

BACK TO THE TOP
Contact us:Tel: (86)010-84883548, Email: blog@chinadaily.com.cn
Blog announcement:| We reserve the right, and you authorize us, to use content, including words, photos and videos, which you provide to our blog
platform, for non-profit purposes on China Daily media, comprising newspaper, website, iPad and other social media accounts.