China drone maker courts online matchmaker Zhenai

A customer counts Chinese Yuan notes at a market in Beijing, August 12, 2015. REUTERS/Jason Lee

Zhenai.com, one of China‘s largest matchmaking websites, has found itself an unlikely suitor in drone manufacturer DEA General Aviation that said on Wednesday it wants to buy the popular dating website to expand its business.

DEA said Zhenai reported 1 billion yuan ($145.59 million) in revenue last year and that it plans to integrate the dating website into its home appliance business to heed Beijing’s so-called “Internet Plus” strategy.

The drone maker said in a statement it had suspended trading in its shares because of the potential deal, without giving details on how much it would pay for Zhenai, which sounds like “true love” in Chinese.

Zhenai, which has more than 100 million registered users, could not be immediately reached for a comment.

Matchmaking is big business in China, where single people are often subjected to tough lectures from relatives keen on reinforcing the importance of marriage and securing the family blood line.

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Reuters

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.