Chinese dating club
Laura He is a senior correspondent based in Hong Kong. Previously, she worked as Asia financial correspondent for Market Watch, The Wall Street Journal Digital Network.Before that, she wrote for Forbes in San Francisco on billionaires, venture capitalists and the emerging class of Chinese entrepreneurs.
She has an MA in digital communication from Stanford University.Jiayuan then delisted its shares from the Nasdaq exchange.Before the delisting, jiayuan posted a net profit of 25.4 million yuan for 2015, up 26 per cent from the previous year.Jiayuan has more than 170 million registered users and 107 physical stores providing matchmaking services.In December 2015, Baihe acquired the Nasdaq-listed firm in a deal that valued it at about US$250 million.It later recovered some ground, closing 19 per cent lower at 5.68 yuan.
On Thursday morning, the stock fell further, down 37 per cent to trade at 3.6 yuan.
Baihe.com’s shares dropped sharply on Wednesday after Su’s death sparked fierce online debate about whether dating sites should be held accountable for verifying members’ data, with many blaming for not doing so in Zhai’s case.
The stock traded as low as 3.6 yuan, down 48 per cent, on the National Equities Exchange and Quotations, China’s over-the-counter stock market for start-ups.
In 2016, the industry’s market size reached 3.4 billion yuan, almost tripling 2014’s 1.2 billion yuan, according to a recent estimate by private research firm Analysys International.
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He said We Phone would suspend its services after his death.