Chinese Tinder clone Tantan raises $70 million US

27 Jun 2017

The popular Chinese dating app Tantan, which claims over 60 million users, secured $70 million U.S. in fresh capital in a series D funding round led by video social network YY and Genesis Capital, with participation from SAIF China and Zhongwei Fund.

Atlanta-based Genesis Capital has been making inroads into China over the past year. Back in May, it participated in the series B funding round for Baidu and Tencent-backed “Uber for trucks” unicorn, Huochebang.

Zhongwei Fund is a healthcare-focused investment fund.

Tantan indicated that the investment would kick-start its attempts to start charging for its services, with the introduction of a monthly, fee-based VIP user option. The company gave no indications that the push for monetization would include a move into the kind of live-streaming technology that YY is well-known for.

“There’s no promise or plan to do that [i.e. live-streaming]. But, if at some point we are interested, [YY] has the tech stack and experience,” Tantan CEO Wang Yu told TechCrunch in an interview.

“One part is, because we [Tartan and YY] both believe the dating market is a huge opportunity in China right now, especially since Momo is moving away from it,” Wang added.

Momo Inc., which began as a dating app, is currently moving in the same direction as many companies in China, where entertainment, online broadcasting, and live-streaming have become en vogue as of late.

This new funding takes Tantan to $120 million U.S. raised from investors to date, according to Crunchbase. It had previously raised $32 million in a Series C round that was led by DST Global in May 2016.

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Tom Marling

Tom is a PhD candidate in Chinese History at Hong Kong Baptist University, and former PR consultant in Mainland China. He joined the AIM Group in 2016 as a writer/analyst.