January 12, 2016 at 3:50 pm EDT | by Mariah Cooper
Grindr sells 60% stake to Chinese company
Grindr, social media app, gay news, Washington Blade

(Logo via Grindr)

Grindr has sold 60% of its company to a Chinese gaming company.

In a blog post, Founder and CEO of Grindr Joel Simkhai announced the mobile app had taken a majority investment of $93 million from its new partner Beijing Kunlun Tech Co.

“For nearly seven years, Grindr has self-funded its growth, and in doing so, we have built the largest network for gay men in the world,” Simkhai writes. “We have taken this investment in our company to accelerate our growth, to allow us to expand our services for you, and to continue to ensure that we make Grindr the number one app and brand for our millions of users.”

Chairman of Kunlun Yahui Zhou told the New York Times the company was looking forward to the partnership.

“We have been very impressed by Grindr’s progress to date and are extremely excited about the future of the company,”Zhou says. “We will continue to seek out and invest in high-quality technology companies led by top-tier management across the globe.”

Simkhai founded Grindr in 2009 and since then the app has expanded into 196 countries.

 

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