China’s largest dating site grabs new CEO

By Emerging Money>,

Shutterstock photo International Ltd. ( DATE , quote ), operator of the largest online dating platform in China, announced March 18 that its board of directors has approved Linguang Wu as co-CEO alongside Jiayuan's founder, Rose Gong. Wu's appointment begins today.

[caption id="attachment_51971" align="alignright" width="300" caption="Rose Gong, founder of Jiayuan"] [/caption]

Wu was previously vice president of KongZhong ( KONG , quote ), a provider of digital entertainment services, where he served in various managerial roles from 2002 until 2011. He was responsible for the launch and operation of some of KongZhong's most popular titles, including the MMORPG World of Tanks .

"I am delighted to welcome Linguang to the Jiayuan team," said Rose Gong, founder and now co-CEO of Jiayuan. "Linguang shares our passion for creating the best possible user experience."

Gong founded Jiayuan in her dorm room in 2003 while working on her master's degree in journalism. The site featured her best friend as its first user, and has grown to 40 million registered users. According to iResearch, ranks first in unique visitors and time spent for online dating sites in China.

The company made $6.3 million in profit on $52.6 million in revenues in 2011, but failed to break even in the fourth quarter due to marketing expenses and year-end bonuses. The stock has dropped 47% since listing on the NASDAQ in May 2011.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
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