Chinese language startup Tantan, which might be most corresponding to Tinder, has raised $70 million in new capital because it appears to be like to monetize its enterprise for the primary time and discover abroad growth choices.
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Three-year-old Tantan claims 60 million ‘validated’ customers — i.e. not faux accounts — of which six million are energetic each day. Of these energetic customers, 75 p.c are second-day return energetic. Impressively, it claims a 6:4 male/feminine ratio which is much larger than most relationship apps because of a advertising and marketing give attention to feminine customers.
The funding — the startup’s Sequence D — was led by video social community YY and Genesis Capital, with participation from SAIF China and Zhongwei Capital. That’s significantly notable as a result of YY is considered one of China’s extra outstanding live-streaming companies, and already we’ve got seen social networks like Momo (a fellow relationship app) and microblogging service Weibo transfer into live-streaming with a lot monetary success. Whereas it’s making ready to earn a living for the primary time, Tantan isn’t planning a transfer into live-streaming at this level, nevertheless.
“There’s no guarantees or plan to do this, but when in some unspecified time in the future we have an interest, [YY] has the tech stack and expertise,” Tantan CEO Wang Yu advised TechCrunch in an interview.
“One half is as a result of we [and YY] each imagine the relationship market is a large alternative in China proper now, particularly since Momo is transferring away from it,” Wang — who beforehand based vogue group P1 — added.
Reasonably than streaming, Tantan will give attention to getting cash through membership companies, which might be a set of extra options for ‘VIP’ customers who pay a month-to-month charge. In that approach it’s very similar to Tinder Plus.
“We’re going to attempt companies the place you’ll be able to spend much more cash and get a a lot completely different consumer expertise. We will take a look at our VIP service in just a few cities initially,” Wang mentioned, though he declined to enter particular particulars.
One other growth focus for Tantan is to maneuver outdoors of China. Wang mentioned that the corporate is eyeing potential expansions in Asia, primarily in India and markets in Southeast Asia, however Wang mentioned it hasn’t put any targets down but.
Anecdotally, Tinder appears to have good utilization throughout Asia — excluding China — because of its international model, however there are others smaller rivals in particular person markets whereas Paktor, which has raised over $50 million from buyers and expanded into streaming companies, maintains a regional presence, too.
That may go away acquisition prospects for any participant wishing to broaden, however Wang mentioned Tantan isn’t trying to purchase its progress and as a substitute it would launch its personal companies when the time is correct.
This new funding takes Tantan to $120 million raised from buyers up to now, in response to Crunchbase.