Chinese dating site in china
in a deal that values the former company at around 0 million USD.
The matchup between Jiayuan and Baihe’s Love World Inc.
Baihe will fund the deal through .4 million USD in cash, and private placement of shares or bank loans.
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The dating site claims to have 90 million users in 80 different cities across China.
Linguang Wu, executive director of Jiayuan, will become co-executive of the new company following the closure of the deal. Jiayuan’s stock jumped almost 6.5 percent following the announcement on Monday, and is currently trading at .33 USD.