The actual financial terms of the deal aren't being disclosed, but Zhenai reaches 30 million registered members. Unlike the growing number of Web-based dating sites recently popping up in the world's most populous nation, Zhenai is able to command relatively high subscription rates by offering call centers with more than 1,000 professional matchmakers that are available to members during the courting process.
IAC is no stranger to dating and mating rituals. It owns the Match.com juggernaut and took control of France's Meetic last month.
Dating in China is fundamentally different than in the Western world, as salary security and home ownership are common pre-date queries. However, China has embraced the convenience of online dating to quickly scour potential, and the growth is far superior to what we're seeing closer to home.
We don't have Zhenai financials to prove that, but market leader Jiayuan.com
It may be just a coincidence that Jiayuan and stateside hookup specialist FriendFinder Networks
We don't know how much IAC is paying or whether Zhenai's financials are compelling, but at least IAC's heart is in the right place by turning to China for online dating growth.The Motley Fool owns shares of Jiayuan.com International. Motley Fool newsletter services have recommended buying shares of Jiayuan.com International. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Longtime Fool contributor Rick Munarriz calls them as he sees them. He does not own shares in any of the stocks in this story. Rick is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early.