Jiayuan.com International Ltd., operator of the largest online dating platform in China, today announced that its initial public offering of 7,100,000 American Depositary Shares (“ADSs”), with every two ADS representing three ordinary shares of the Company, was priced at $11.00 per ADS. The ADSs began trading on NASDAQ today, May 11, 2011, under the symbol “DATE.”
For the year ended December 2010 versus 2009, DATE sales increased 150% to $25 million from $10 million, and earnings increased 185% to $2.5 million from $.9 million.
DATE ranked first and commanded a 43.7% share in the total amount of money spent in China’s online dating market in 2010.
Jiayuan.com also ranked first in terms of number of unique visitors, average time spent per user and average page views per user among all online dating websites in China in 2010, according to iResearch.
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Update: Jiayuan.com raised $78.1 million in its initial public offering. The stock fell 48 cents, or 4.4 percent, to close at $10.52 in its first day of trading.