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Category: Zhenai

Low Marriage Rate Sparks Worries Over Declining Population in China

Posted on March 28, 2019

Zhenai logo newGLOBAL TIMES – Mar 28 – Newly released figures showing China's marriage rate at 7.2 per thousand in 2018 (down from 9.9), the lowest since 2013, have sparked public discussion over the reasons why more Chinese are staying single as well as worries on how to deal with the declining population. Shanghai had the lowest marriage rate – 4.4 per thousand in 2018. The China Statistical Yearbook 2018 shows that there were ~240M single people in China. According to an online poll launched by the People's Daily, "not meeting the right people" was listed as the top reason why young people are staying single, with 29.5% of the 33K respondents choosing this reason. Other reasons include "being unable to share the family burden" (23.4%), "enjoying single life" (16.5%), "living an unstable life" (12.3%), "too much work pressure" (8.8%) and "pursuing academic development." An online survey conducted among 140M members of Zhenai.com, China's largest matchmaking site, concluded that the high cost of living represents the greatest source of financial pressure for single people, followed by difficulties in buying a home.

by Li Qiao
See full article at Global Times

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Zhenai Lets Users Date Via Live Stream

Posted on February 28, 2019

Zhenai blind datesABACUS NEWS – Feb 28 – Chinese dating app Zhenai is allowing its users to have blind dates through video streams. These dates happen live, in public and for everyone to watch and comment. Similar to Tinder, Zhenai allows swiping through profiles – except, in this case, getting a match leads to a direct voice call with the person.

by Masha Borak
See full article at Abacus News

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Zhenai Survey Finds Reasons People Remain Single in China

Posted on November 12, 2018

Zhenai logo newCHINA.ORG – Nov 10 – A recent survey conducted by Chinese online matchmaking platform zhenai.com showed the top reasons why some people choose to remain single in China. Being afraid of starting an "awkward chat" is one of the top reasons to remain single. 53% said they always feel embarrassed when striving to make conversation on a date. Personal economic status is another major consideration in relationships. ~70% of the participants consider buying an apartment a necessity in marriage while only 30% accept rental housing. 54% stating that they would not give up their careers for the sake of marriage.

See full article at China.org

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Chinese Singles Economy

Posted on July 4, 2018

Chinese singlesTHE STAR – June 29 – ~200M Chinese, or 14% of China's population, are single, representing a huge market for online dating apps and matchmaking services. Baihe and its sister company Jiayuan face stiff competition from apps such as Zhenai. Together, the three apps boast market shares of ~65%. They became market leaders through innovation. They enable young singles to connect via live streaming, games, anonymous telephone chats and instant messaging widgets. White-collar professionals in first- and second-tier cities make up ~90% of dating app consumers, according to a latest report by iResearch. An industry report predicted that the total market revenue of online dating services will exceed RM28B ($4.2B) by 2025.

by Cheng Yu
See full article at The Star

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Zhenai’s Founder Sets Sights On Marrying AI To Blockchain

Posted on May 20, 2018

Zhenai Li Song LinkedInSCMP – May 18 – In November, Li Song sold a controlling stake in his online matchmaking business, Zhenai.com, to PAG Asia Capital, and now he's looking forward to his next big thing. Zhenai, which translates as "true love", was his second venture after MeMeStar, a short message-based chat forum that was sold to the Chinese web portal Sina. Li founded Zhenai in 2005, but it wasn't until 2008 that it started to take off. He attributes the success that followed to the rapid adoption of smartphones. Zhenai.com has ~120M registered users, and new users join the dating platform at a rate of ~50k a day. Li is now a minority shareholder and will remain on the board. He's also taking an online fintech course offered by Oxford University, and when that finishes, plans to start new business related to two key emerging technologies – artificial intelligence and blockchain. He's confident that we will see apps on decentralised platforms in the future.

by Kate Whitehead
See full article at SCMP

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Summarized by the IDEA team

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PAG Buys Controlling Stake In Zhenai.com

Posted on November 21, 2017

Zhenai logo aug 16SCMP – Nov 21 – PAG Asia Capital, one of Asia's largest investment firms, has closed a deal to acquire a controlling stake in Zhenai.com, China's largest online matchmaking and dating service provider. The transaction size was not disclosed. Founded in 2005 by Li Song, a former Morgan Stanley executive director, Zhenai.com now boasts ~140M registered users. It is expected to generate revenues of ~1.6B yuan and a net profit of ~200M yuan ($30M) in 2017, according to the company. This compared to the 51.4M yuan ($7.7M) 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.

by Jane Li
See full article at SCMP

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This post also appears on InternetDatingInvestments.

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Chinese Wives Expect To Be Given An Apartment

Posted on November 9, 2017

Zhenai logo aug 16GLOBAL TIMES – Nov 9 – A new survey by matchmaking website Zhenai.com revealed that over half of all single Chinese people born after the 1990s agree with premarital cohabitation. It also found that most single Chinese women expect their future partner's monthly salary to exceed 8,000 yuan ($1205.21), rising 3,000 yuan from last year. Most women born after 1990s expect to have their own apartment as a precondition for marriage. 80% of men and women surveyed are not in favor of "going Dutch" on dates, 69 % of men and women feel that men should pay for most dates and 12% believe all dates should be paid entirely by men.

See full article at Global Times

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Zhenai.com: Money Still Driver In Politically Incorrect Matchmaking World

Posted on September 25, 2017

Zhenai logo aug 16SOUTH CHINA MORNING POST – Sep 24 – When it comes to dating, Chinese men are most interested in what women look like, while women want to know about a man's income. Primary-school teachers and nurses are in high demand among men, while women favour men in IT or finance. That's according to Dr Song Li, founder of Zhenai.com, one of China's biggest matchmaking sites. Zhenai.com says it has 120M registered users, and ~50K new users join the dating every day. Zhenai.com offers two services: a "self-service dating service" where members pay 400 yuan ($60) a year to browse members' profiles, chat and arrange dates; the other is a more exclusive offline, face-to-face matchmaking service that costs 4K yuan for six months. Zhenai has 50 matchmaking centres in 37 cities across China, and Li says he expects the company to generate 1.5B yuan in revenue and 200M yuan in net profit this year.

by Kate Whitehead
See full article at South China Morning Post

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Match.com-Backed Zhenai Plans A-Share Listing Via Reverse Merger

Posted on February 18, 2017

Zhenai screenshot 2017CHINAMONEY NETWORK – Feb 17 – Zhenai, a Chinese online dating site 20% owned by Match.com, is planning a back-door listing via a reverse merger with Shenzhen-listed DEA General Aviation Holding Co., Ltd. DEA, an aviation parts and electronics maker, said it plans to acquire 100% of Zhenai via new share issuance. The deal is still in the process of being finalized and the two parties have not signed a formal agreement, according to the filing. Zhenai claims ~100M registered users. The company also registered $145M in revenues and $14M in net profits in 2016.

by Li Dongmei
See full article at ChinaMoney Network

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This post also appears on InternetDatingInvestments.

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China Drone Maker Wants To Buy Zhenai.com

Posted on February 15, 2017

Zhenai logo aug 16REUTERS – Feb 15 – DEA General Aviation announced it's intent to acquire the dating site today, in order to expand its business. The company didn't disclose how much it would pay for Zhenai. Zhenai reported 1B yuan ($145,59M) revenue in 2016 and has more than 100M users.

by Brenda Goh
See full article at Reuters

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This post also appears on InternetDatingInvestments.

Summarized by the Courtland Brooks team

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