You are here: Home » Companies » Start-ups » Around the World
Business Standard

Chinese firm Beijing Kunlun Tech buys major stake in gay dating app Grindr

A media report pegs the stake at 60% and valuing the almost seven-year-old start-up at $155 million

AFP/PTI  |  San Francisco 

Grindr Logo
Grindr Logo (Photo: Twitter)

Popular gay dating application Grindr has said that it has hooked up with Chinese online game titan Beijing Kunlun Tech.

Grindr said in a blog post that it has taken on a "majority investment" from Beijing Kunlun Tech Co., referring readers to a New York Times story pegging the stake at 60% and valuing the almost seven-year-old start-up at $155 million.

It should help Grindr compete in the increasingly competitive online dating market, and will give Beijing Kunlun an opening to spread beyond online gaming, as well as outside of China.

It was not immediately clear whether Beijing Kunlun intends to take Grindr to the market in China, where attitudes towards homosexuality -- long taboo in the country -- are slowly changing.

Grindr founder and chief executive Joel Simkhai touted the investment as "a huge vote of confidence in our vision to connect gay men to even more of the world around them."

Grindr opened the door for the investment to accelerate growth and improve the mobile application for its "millions of users," according to Simkhai.

The amount invested was not disclosed. Simkhai founded Grindr with his own money and he said that this is the first time it has raised money from an outside investor.

"It will generally be business as usual for us here at Grindr, but with a renewed sense of purpose and additional resources to deliver a great product to you," Simkhai said.

Los Angeles-based Grindr was founded in 2009 and the gay dating application -- versions of which are tailored for Apple or Android devices -- is reportedly used in 196 countries.

The application lets users see pictures of other users and then lets them connect by sharing locations, photos or messages.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, January 12 2016. 12:13 IST