INTERFAX — May 23 — Chinese online matchmaking service provider Love21cn.com (5 million registered) will partner with Sina’s friends-making channel to integrate resources and expand businesses. Established in October 2003, Love21cn.com was one of the earliest matchmaking service providers in China and received a RMB 40 million ($5.2 million) investment last month from founders of Nasdaq-listed language school New Oriental Education and Technology Group to support its business expansion. “One of the challenges for running a Web site is to ensure the credibility of the information users provide," said Gong Haiyan, the Founder. "We have been very careful and have put a lot of effort into developing the user identity management system of our Web site. Users can file a complaint if they find someone submitting false information and we will block him or her from using our services." Revenue of China’s online matchmaking market is expected to reach RMB 653 million ($85.4 million) by 2008, with an average annual growth of 106% (iResearch).
Category: Love21cn
Love21cn New Oriental Founders Invest In Dating Site
PACIFIC EPOCH — Apr 26 — Chinese online match-making website Love21cn.com received 40 million Yuan from three of the co-founders of private education company New Oriental Education & Technology Group Inc. (Nasdaq: EDU): Xu Xiaoping, Wang Qiang and Qian Yongqiang. A March 2007 report said Love21cn would receive a US$10 million from Qiming Ventures. Qian Yongqiang also invested in Love21cn in 2003.
The full article was originally published at Pacific Epoch, but is no longer available.
Love21cn New Oriental Founders Invest In Dating Site
PACIFIC EPOCH — Apr 26 — Chinese online match-making website Love21cn.com received 40 million Yuan from three of the co-founders of private education company New Oriental Education & Technology Group Inc. (Nasdaq: EDU): Xu Xiaoping, Wang Qiang and Qian Yongqiang. A March 2007 report said Love21cn would receive a US$10 million from Qiming Ventures. Qian Yongqiang also invested in Love21cn in 2003.
The full article was originally published at Pacific Epoch, but is no longer available.
USA Love Brokers Eye China
REUTERS — Feb 13 — Match.com has secured Love21CN.com , one of China's biggest online dating service providers, as its main target for a potential stake purchase or business partnership. eHarmony is also looking at potential partners in China. In November, China.com said it would team up with Meetic for business promotion. Meetic in July also launched a localized Chinese site called "Mi Tang," or "Sweetie" in English. A Meetic-led venture capital consortium is also expected to invest $20 million in Yeeyoo. iResearch expects the Chinese online personals market revenue to grow by ~60% annually to 653 million yuan ($84.21 million) by 2008. MySpace will launch in China within months. GSR Ventures and U.S. fund Mayfield jointly invested $2 million in "Baihe" — "Lily" in English — in late 2005. In December, Baihe began charging 1,980 yuan per person for its high-end "Golden" service. Most Chinese dating sites are free.Mark Brooks: I have an interview with the CEO of Baihe.com lined up for OPW in March. Online dating has a casual connotation in China and is often referred to as 'friends-making.' The Asian internet dating conference is scheduled for May in Shanghai. See idate2007.com.
USA Love Brokers Eye China
REUTERS — Feb 13 — Match.com has secured Love21CN.com , one of China's biggest online dating service providers, as its main target for a potential stake purchase or business partnership. eHarmony is also looking at potential partners in China. In November, China.com said it would team up with Meetic for business promotion. Meetic in July also launched a localized Chinese site called "Mi Tang," or "Sweetie" in English. A Meetic-led venture capital consortium is also expected to invest $20 million in Yeeyoo. iResearch expects the Chinese online personals market revenue to grow by ~60% annually to 653 million yuan ($84.21 million) by 2008. MySpace will launch in China within months. GSR Ventures and U.S. fund Mayfield jointly invested $2 million in "Baihe" — "Lily" in English — in late 2005. In December, Baihe began charging 1,980 yuan per person for its high-end "Golden" service. Most Chinese dating sites are free.Mark Brooks: I have an interview with the CEO of Baihe.com lined up for OPW in March. Online dating has a casual connotation in China and is often referred to as 'friends-making.' The Asian internet dating conference is scheduled for May in Shanghai. See idate2007.com.