On August 28, Meitu announced that it will acquire an approximate 57.09% stake in Dajie.com in exchange for cash and shares. The total cost for this acquisition is approximately HKD 395 million, of which approximately HKD 52.53 million will be paid in cash. Upon completion of this transaction, Dajie.com will continue to operate independently, but with valuable support from Meitu in the form of increased web traffic. In this way, Meitu will continue to grow its portfolio of value-added services.
Dajie.com was founded in 2008 by Susan Wang. It serves as a professional networking platform that provides accurate matching services for job seekers and enterprises using big data analysis, thereby improving the efficiency and quality of the human resources industry.
With over 80% of the users of Meitu being under 35 years old, it seeks to offer Dajie.com’s professional social platform to its large user base as a value-added service to increase user engagement and stickiness. The investment aims to accelerate the growth of Dajie.com, which in return, would create new opportunities for monetization through individual and organization subscriptions and target advertising.
The announcement writes that before founding Dajie.com in 2008, Ms. Wang has played an integral role as a co-founder in building many China’s Internet companies. Her track record at ChinaRen, KongZhong.com (NASDAQ: KZ), and RenRen (NYSE: RENN) demonstrated her leadership, deep knowledge of social media, and business acumen. In view of Ms. Wang’s accomplishments and expertise in the China Internet industry,Ms. Wang will be appointed as the chief operating officer of Meitu, reporting to Mr. Xinhong Wu, founder and CEO of Meitu. At the same time, Ms. Wang will continue to lead Dajie.com.