Across The BorderHow China’s internet companies are turning online love into offline cash
The search for love online isn’t only good for lonely hearts - it’s also a boon for Chinese internet companies riding off the digital dating trend
The millions of Chinese searching for love online might not end up finding someone special, but mainland internet companies won’t be feeling too heartbroken.
With around 200 million single adults in mainland China, there’s plenty of demand for digital dating and there’s a range of companies turning the online hunt for love into offline cash.
These range from traditional “swipe right” style apps to YY’s interactive dating show and Momo’s live broadcast videos.
Momo, which started life as China’s answer to Tinder, has seen huge growth thanks to its platform which allows users to broadcast everyday experiences and chat to other users nearby.
Some people are using this for entertainment - but others are turning these online interactions into offline dates, HSBC’s Chinese internet analyst Chi Tsang told the Post.
Last year, Momo saw US$134 million in revenue, which may grow to US$443 million this year and US$837 million next year, all driven by live broadcasting which is expected to make up 63 per cent of this year’s revenue, according to HSBC estimates. Alibaba, which owns the South China Morning Post, has a 27 per cent stake in Momo.