Grindr sells 60% stake to Chinese gaming company
First influx of outside capital values dating app for gay and bisexual men at $155m and will pay for new features and services
Grindr, the dating and social networking app for gay and bisexual men, has hooked up with a Chinese partner for its first ever outside investment.The gaming company Beijing Kunlun Tech paid $98.4m (£68.4m) for a 60% controlling stake in Grindr, valuing the California-based business at $155m. It is expected to use the app’s popularity as a way of boosting income from outside China by directing users towards its games.Joel Simkhai, who founded Grindr with a few thousand dollars of his own money...
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