Meetic, one of the big dating/social networking companies in Europe, has bought a 70 percent stake in Chinese online and mobile dating and social networking company eFriendsNet, with an option to buy the rest of the company over the next four years.
With roughly 4 million registered profiles, eFriendsNet provides web, wap, SMS and IVR services. eFriendsNet’s 2005 earnings totalled an estimated $2.8 million.
The buyout price: the release says it would be about $20-25 million for 100 percent valuation/sale/
The PDF release is here…
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