China's Jiayuan has date with Wall Street

May 11, 2011
Founder of internet dating site jiayuan.com, Gong Haiyan, poses beside a poster in her Beijing office in 2010. China's top online dating site, Jiayuan, is seeking to raise nearly $78 million with an initial public offering on Wall Street on Wednesday.

China's top online dating site, Jiayuan, is seeking to raise nearly $78 million with an initial public offering on Wall Street on Wednesday.

Jiayuan.com, according to a filing on the Nasdaq website, plans to issue 7.1 million shares priced at between $10 and $12 each. It will be quoted under the symbol "DATE."

Jiayuan is the latest Chinese to look to the US capital market, where investors have been keen to snap up stakes in technology firms based in the world's fastest-growing major economy.

China also has the world's biggest Internet population with at least 457 million users.

Last week, Renren, a social network seen as China's answer to Facebook, made its debut on Wall Street trading under the symbol "RENN."

Renren shares were offered at $14 and closed at $14.75 on Tuesday after soaring as high as $24 during trading last week.

According to Jiayuan, an iResearch study found it commanded a 43.7 percent share of the total amount of money spent in China's online dating market last year.

Jiayuan describes itself as an online dating pioneer "committed to addressing the dating and marriage needs of China's rapidly growing urban singles population by providing a trusted, effective platform."

The Beijing-based company claims a total of 40.2 million registered user accounts and 4.7 million active users.

Explore further: Online craft market Etsy files for IPO

add to favorites email to friend print save as pdf

Related Stories

Shanda Games IPO gets tepid reception

Sep 25, 2009

(AP) -- Shanda Games Ltd., a Chinese video game company, raised $1 billion Friday in the largest initial public offering of the year.

China video-sharing site Youku files for IPO in US

Nov 16, 2010

China's biggest online video-hosting site Youku.com is seeking to raise up to 150 million dollars in a US initial public offering as it jostles with domestic rival Tudou.com for top position.

LinkedIn looking for $32 to $35 per share in IPO

May 09, 2011

(AP) -- Professional networking website LinkedIn Corp. hopes to sell its stock for $32 to $35 per share in an upcoming initial public offering. Its IPO may encourage other growing Internet services to make ...

Recommended for you

Car industry welcomes Google, Apple but battles loom

12 hours ago

It could be the battle of the titans. Auto giants at the Geneva Motor Show say they welcome the potential move of Silicon Valley players into their sector but experts warn of major disruptions.

Woman in Silicon Valley sex discrimination suit to testify

13 hours ago

The woman at the center of a sex discrimination lawsuit against one of Silicon Valley's most prestigious venture capital firms is set to take the stand in a case that has focused attention on the treatment of women in the ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.