INTERFAX -- Jan 19 -- Meetic paid USD 20 mln for a majority stake in eFriendsNet Entertainment, which operates
China's largest online dating website Yeeyoo.com.
"Meetic made this acquisition because it wants to enter the social
networking market in mainland China in an efficient way," said
eFriendsNet spokesperson Qi Xin. "The business model and profitability
of China's social networking industry is becoming more clear and that
has drawn more attention from foreign investors." Meetic has
already transferred traffic from its Chinese website to Yeeyoo.com, and
will also send senior staff from Europe to provide training to
Yeeyoo.com's employees. Moreover, Meetic may also later purchase a 100%
stake in eFriendsNet. Founded in December 2003, eFriendsNet
provides online dating services via its internet portal Yeeyoo.com (4
million registered members), and is also a provider of mobile
value-added services to China Mobile and China Unicom. FULL ARTICLE @ INTERFAX

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