AC Match.com Acquires 20% stake in Leading Chinese Online Matchmaking Service, Zhenai Inc, a Portfolio Company of SEAVI Advent. Match.com, an operating business of IAC (Nasdaq: IACI), announced that it has acquired a 20% interest in Zhenai Inc., a leading provider of online matchmaking services in China.
Launched in 2005 by Dr. Song Li, Zhenai provides integrated Internet and telephone matchmaking services to China’s rapidly growing single population who are looking for long-term relationships. Zhenai has established a large and growing user base of over 30 million registered members that have the ability to create their own personal profiles, search or browse for member profiles, and communicate with members through the Zhenai.com website. Most distinctly, Zhenai commands especially high subscription rates due to subscribers’ access to over 1000 professional matchmakers at Zhenai’s call centers who are available to provide subscribers with advice and consultation throughout the dating process.
SEAVI Advent invested into Sinofriends Inc back in early 2006, the holding company of Zhenai. Post investment, SEAVI Advent worked closely with the management to develop its online business, primarily Zhenai, as well as its mobile value added services, Mesic Inc. Both being offered in China, which currently boosts the largest internet and mobile user base globally.
Kevin Chan, the Investment Partner of SEAVI Advent, said: “Back then, we were excited by the positive industry trends in China and the tremendous growth potential of the mobile and internet markets in China. This investment offers us with a great opportunity to work with a passionate entrepreneur to take part in the spectacular growth of online personals market. The 20% stake acquisition by IAC’s Match.com, provide further endorsement to the leading pole position of Zhenai.com in the online matchmaking services market in China.”
About SEAVI Advent Private Equity
SEAVI Advent Private Equity, the Asian affiliate of Boston based private equity institution Advent International Corporation, is one of the first private equity and venture capital firms to operate in the Asia Pacific region. Since 1984, the firm has invested over US$500 million into many Asian companies, from growth to late stage, as well as buyout and control transactions. SEAVI Advent has successfully helped more than 40 portfolio companies strengthen their business positions through initial public offerings on the stock exchanges of Singapore, Hong Kong, United States of America, Malaysia, Thailand, Indonesia and Philippines.
In recent years, SEAVI Advent has successfully conducted numerous investments and has been instrumental in delivering value for its portfolio companies, which include Venture Corporation Ltd and Yangzijiang Shipbuilding (Holdings) Ltd.