Shareholder information

Dear Shareholder,

As some of you have undoubtedly learned, our chairman Henrik Byström passed away some weeks ago. His passing was as tragic as it was unexpected.

Henrik has been a constant presence in P1 and lately Tantan all the way since it’s early beginnings. He worked tirelessly for the success of the company and it’s safe to say that without his efforts, his deep engagement and all work, love and care he put in to this project over these years, we would not be where we are today, enjoying the success of Tantan as we are.

Our thoughts continue to go out to his family and he will be dearly missed by all who knew him.

Continue reading Shareholder information

D round update

As we have previously reported the D round of financing has been closed.

The final list of shareholders in Tantan after this round is as follows:

The D round was led by YY and Genesis Capital with Alibaba, SAIF, Zhongwei Capital and Hillhouse Capital also investing. Total amount was 70 million USD.

Earlier rounds have seen BAI Gmbh (Bertelsmann); Nex Group Asia; Giant Wisdom; GX; KPCB (Kleiner Perkins); DCM; LB, Atinum and Mirae of Koera; Red Kingdom; A fund and Apoletto Asia (DST) invest.

Including the D round Tantan has raised a total of 120 million USD.

P1’s holding,the founders and the staff through the ESOP still hold over 40% of the shares.

Shareholder update

Dear shareholder,

Tantan continues to grow and develop in an exciting and positive way. Total users now stand at 60 million, while Daily Active Users now exceed 6 million. Other key user statistics like second day return rate and male/female ratio remain at 70% and 60/40 respectively.

In the media Tantan is now referred to as Chinas leading dating app. Through product refinements as well as promotions management remains positive on the prospects for continued growth.

Monetization will be introduced in the near future. The first step will be a VIP service.

With the conclusion of the D round of financing the company now has a solid financial base which should last until an IPO. The round was substantially oversubscribed. The final amount in the D round was increased to 70 million USD as it was felt the strategic value of getting a major strategic partner, who we cannot disclose at this stage, on board as an investor and strategic partner justified the increase from 60 to 70 million USD. Together with YY, a large streaming site and Genesis (founded by ex Tencent executives) this adds substantial strategic partners to Tantan.

There is at present strong media interest in Tantan and many articles and mentions are appearing. A press conference yesterday was very well attended and substantial coverage is envisioned. We intend to summarize these for the benefit of shareholders in the coming weeks.

Further question regarding these developments can be addressed to investors@p1.com.