Jiayuan Files $100 Million U.S. IPO
Jiayuan is a Chinese dating website that plans on raising $100 million in a U.S. initial public offering under the Nasdaq symbol “DATE.” Jiayuan’s goal is to help people that go on dates end up in marriage. Jiayuan’s filing did not specify a price range of the shares or the number of American Depositary Shares that will be sold.
Jiayuan claims to be the largest online dating platform company in China with over 40 million registered users. About 4.74 million of those accounts were average. The company is profitable and they plan on using the proceeds from the IPO to pay dividends to their current shareholders.
[Reuters]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry