Video Matchmaking App Yidui Completes Series B Financing Led by Sky9 Capital
Yidui, the leading video matchmaking platform in China, recently announced the completion of a Series B round of financing led by Sky9 Capital and Xiaomi. Launched in 2018, the company has over 40 million users and has raised $100 million to date.
Yidui provides an innovative dating experience, where the date is moderated by a third person—a “matchmaker”—who facilitates the conversation. The date is livestreamed and the audience can comment, livechat with the matchmaker, and even vie for the attention of the dating participants with virtual gifts.
The company addresses the modern challenge that China’s large singles population faces in today’s urbanized, mobile-centric society. By using technology, livestreaming, and matchmakers in a fun, entertaining and culturally relevant way, Yidui’s 10 million matchmakers arrange 40 million dates a month. There are currently 240 million single people in China, representing over 20% of the country’s total adult population. As China’s urbanization continues to grow beyond the current rate of 60%, single individuals who moved away from their original hometowns are finding it harder and harder to find and meet matches from a similar background. Yidui suits the existing behavior and habits of young singles, who have easily adopted “cloud dating” via mobile dating apps as an important channel to find love.
Sky9 Capital Partner Yu Yuan commented, “We are very impressed by the Yidui team and their expertise around user needs and behavior. In particular, the combination of livestreaming, entertainment, and matchmaking has added new unexplored dimensions to the online dating experience.” Sky9 Capital Founding Partner Ron Cao remarked, “We are very excited by how Yidui has brought a traditional, offline matchmaking activity into the modern, mobile era in a way that speaks to today’s youth. The opportunity for young people to express themselves and also find likeminded people in a fun and safe online, social networking environment is a huge opportunity for Yidui. We are excited to be part of this journey with the Yidui team.”