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Jiayuan is designed to help Chinese singles find marriage, and discourages its members from pursuing short term flings.
They had previously privately agreed to buy over 8m shares – 19.6% of the company’s total outstanding shares — from Aprilsky, a subsidiary owned by Pangu Trust, whose settlor is Jiayuan founder Rose Gong.
Despite this, its total number of active users dropped from 6.1m to 5.3m, with its CFO Shang Koo saying the company was focusing completely on profitability, and Jiayuan had massively reduced its spending on user acquisition. Born in Newcastle, he has an English degree from Queen Mary, London and after working for the NHS, trained as a journalist with the Press Association.
Passionate about music, journalism and Newcastle United.
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