Baihe.com, one of the largest online dating sites in China, has announced RMB1.5 billion (about US$240m) in new funding from a group of local companies, private equity firms and security companies. Baihe CEO Fanjiang Tian recently hinted at a possible local IPO, ruling out a foreign listing like its direct competitor Jiayuan.com, that went public on the NASDAQ in 2011. The first generation of dating sites, such as Jiayuan and Baihe, generated income through paid offerings, followed by YY (NASDAQ: YY), launched in 2013, which provides online dating services and generates revenue from virtual gifts. Baihe’s functionality also includes O2O services for the marriage retail industry, pairing customers with businesses. “Our next goal is to help 10 million couples marry through the service, creating the world biggest and best internet platform for love and marriage.” Tian added.