BAMBOO WORKS – Chinese company Milian Technology has filed for an IPO, driven by its app Yidui, which uses live three-way video chats where a paid host helps two users interact and keep conversations going. The platform relies on hosts as matchmakers and generates revenue mainly from virtual gifts and in-app interactions (98.8%), not subscriptions. In China, the online dating and social market reached 22.6B yuan ($3.1B) in 2024 with ~280M users by mid-2025. Milian reported 4.12B yuan ($570M) in revenue (+74% YoY) and 519M yuan (~$72M) in profit, with Yidui contributing 81.7% of revenue. The app had 4.8M monthly active users.
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