Mobile Paid Flirting App 'Keep You Company' Lands Angel Funding

Iyiou, 2/25/16

Shanghai-based Paishen Network Technology, operator of paid mobile flirting app Peini Wan ("Keep You Company"), recently revealed that it has completed RMB 4 mln angel funding from Huazhong Investment.

Users of Peini Wan post an activity, such as watching a movie or eating dinner, and a reward of RMB 199, 299, or 399 to accompany them on the date. The originator then gets to choose from among the willing respondents.

Peini Wan, which launched this month, has 30,000 registered users. During the service's one-month beta, it successfully arranged more than 1,000 dates with a total transaction volume of RMB 300,000.

Peini Wan's future profitability will likely come from VIP subscription fees, a commission of 10-15% from the date fees, a commission from offline stores patronized by users, or advertising.

The company's 2016 targets include at least one more investment round, hitting 1 mln users, and reaching monthly transaction volume of RMB 30 mln.

Keywords: Paishen Peini Wan mobile SNS VC funding wireless angel funding Huazhong mobile application business model

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