TECHNODE.COM - Apr 11 - From Tinder-like Tantan to Momo, to marriage-focussed Baihe, tech companies are taking advantage of increasingly independent young adults. Just under half of China's 1.4B people fall between the ages of 25 and 54 years old. Most are men. Within this total, 200M are unmarried. One study shows that 54M people made use of online dating services in 2016, a number that is expected to increase by 24M, or 45%, by 2022. Baihe was founded in 2005 and claims to have ~100M users. Baihe-owned Jiayuan.com also focuses on marriage-related services. It claims to have ~170M users and operates offline stores in 71 cities. Tantan and Momo are designed for more casual dating. In 2013, the total revenue for the sector was RMB 1.93B. This more than doubled to RMB 4B at the end of 2017 and is expected to reach RMB 5B by 2020. According to researchers, online dating can also have a profound effect on marriage diversity. According to the Center for China and Globalization, the number of foreigners increased by 50% between 2000 and 2013. Additionally, over 1500 foreigners were granted green cards in 2016, a 160% YOY increase. In the same year, the number of cross-cultural marriages swelled by 2.5% in Shanghai.
by Christopher Udemans
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Summarized by the IDEA team
