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Gay hookup application Grindr sold a majority stake to a Chinese games providers

Gay hookup application Grindr sold a majority stake to a Chinese games providers

Grindr try promoting a majority stake to a Chines games team.

The popular homosexual hookup and internet dating app has revealed that the Beijing Kunlun technology business are purchasing 60% for the providers, in accordance with numerous news reports.

The offer appreciates Grindr at $155 million (?107 million). The other 40per cent is divided between Joel Simkhai, president and CEO, and team employees that have money.

Precisely why sell? Grindr’s COO, Carter, McJunkin, advised the fresh new York era that it was about growing the organization. “We bring users in almost every country on the planet, however in purchase to get to the next step of one’s company and expand faster, we needed someone.”

Looking forward, the organization is going to try “solving a lot more issues” for its customers. “We’ve expanded to make it a lot more of a lifestyle providers,” said McJunkin.

Meanwhile, it may sound like there might be additional purchases coming for Beijing Kunlun as it creates the profile.

In an announcement, chairman Yahui Zhou stated: “We continues to seek out and put money into top-quality development organizations brought by top-tier administration throughout the world.”