Triggers a new era of dating and marriage services; completes re-funding of US$246 million; plans for public listingBaihe.com, a pioneer of real-name dating services in China, on 20 May announced official launch of free of charge communication services for its members. Starting from 22 May, Baihe.com members will be able to communicate with other members free of charge instead of paying membership fees. In addition, Baihe.com has completed a new round of funding of about 1.5 billion yuan (approx. US$246 million), which makes it outvalue its domestic peers. Baihe.com plans public listing within this year.
Baihe.com becomes China’s first major dating website offering free of charge communication between members. Industry insiders said that Baihe.com’s initiative will have significant effect on domestic online dating websites, which charge membership fees for communication. Baihe.com’s initiative will overturn the current business mode and trigger an industry reshuffle.
Mr. Tian Fanjiang, CEO of Baihe.com, said the company aims to increase online market share to at least 61.8 per cent via the new initiative to become a leading online dating website in China. The website also aims to become a leader in the dating and marriage service ecosystem with improvement in user added value and industrial chain extension.
