Jiayuan.com International is the operator of the largest online dating platform in China. As of September 30, 2011, the company had 50.5 million registered users with an average of 5.6 million monthly active user accounts.
The company is a pioneer in China’s online dating market. Its website is the clear leader in the industry by number of unique visitors, average time spent per user and average page views per user in 2010. These statistics were gathered by the respected research firm, iResearch.
The company today announced that its board of directors has approved a $10 million stock buyback program. The program is effective immediately and allows Jiayuan to buy up to $10 million of its American Depositary Shares (ADSs) over the next twelve months in the open market. The board of directors will review the program periodically and make any necessary adjustments.
The timing of the purchases and the amount of shares purchased will be determined by the company’s management based on its evaluation of current market conditions, trading price and applicable securities laws. The purchases will be funded from Jiayuan’s available cash balance.
For further information about Jiayuan, please visit its website at www.ir.jiayuan.com
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