INTERFAX -- Jan 19 -- Meetic paid USD 20 mln for a majority stake in eFriendsNet Entertainment, which operates China's largest online dating website Yeeyoo.com. "Meetic made this acquisition because it wants to enter the social networking market in Mainland China in an efficient way," said eFriendsNet spokesperson Qi Xin. "The business model and profitability of China's social networking industry is becoming more clear and that has drawn more attention from foreign investors." Meetic has already transferred traffic from its Chinese website to Yeeyoo.com, and will also send senior staff from Europe to provide training to Yeeyoo.com's employees. Moreover, Meetic may also later purchase a 100% stake in eFriendsNet. Founded in December 2003, eFriendsNet provides online dating services via its internet portal Yeeyoo.com (4 million registered members), and is also a provider of mobile value-added services to China Mobile and China Unicom.
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