Major Chinese enterprise known for its selfie editor, Meitu Inc, has announced a new majority stake in the social networking and job seeking combo platform aimed at China's youth, Dajie Net Investment. Meitu dished out a reported HK$395.5 million (US$50.4 million) for its 57.09% stake.
Meitu will acquire the shares from venture capital firms that are exiting the online recruitment platform. These include Northern Light Venture Capital, SBCVC, and Hotung Venture Group. Other firms exiting Dajie are Fine Talent Holdings and Wenkang.
Upon completion of the deal, Dajie Net will become a subsidiary of Meitu and will hold a 29.53 per cent share in the job-hunting platform. Rapid Recruitment Ltd and Hill Ville Ltd will hold 7.28 per cent and 6.10 per cent, respectively.
Dajie Net is mainly engaged in online recruitment through its online social recruitment platform dajie.com, which provides matching services to recruiters and job candidates.
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