Grindr sells 60% stake to Chinese gaming company to help expand services
Gay and bisexual dating app Grindr has sold a 60 per cent stake to Chinese gaming company Beijing Kunlun Tech.
The cash boost is the first outside investment the startup has received, and places the firm’s value at $155m.
Founder Joel Simkhai and Grindr employees own the remaining chunk of the business, with Simkhai saying it will be “business as usual” for the company “but with a renewed sense of purpose and additional resources to deliver a great product.”
In a blog post to users he said: “For nearly seven years, Grindr has self-funded its growth, and in doing so, Read full story ›
Source: The Drum
