Fosun International chairman and business magnate Guo Guangchang plans to purchase a majority stake in marriage and dating website Baihe.com for just under RMB 4 billion ($630 million), local media is reporting.

Baihe.com’s shareholders entered into an agreement with Yuanhong Investment to sell 869 million shares at a price of RMB 4.6 ($0.72) per share. Guo controls 100% of Yuanhong, which will make him a controlling shareholder of Baihe.com when the deal goes through. There has been no indication as to when the purchase will be concluded.

In December 2015, a Baihe.com subsidiary announced plans to acquire rival dating and marriage platform Jiayuan for $250 million. The company then reorganized to become the Baihe Jiayaun Network Group in September 2017.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Chris Udemans

Christopher Udemans is a Shanghai-based data and graphics reporter. He covers Chinese artificial intelligence, mobility, and cybersecurity. You can contact him at chrisudemans [at] technode [dot] com.