Dating app Grindr sells majority stake to Chinese company

The New York Times reports that Chinese game company Beijing Kunlun Tech Company will acquire 60% of the shares in Grindr, the dating app for gay men. This would be the company’s first time allowing outside investment.

Other sources report that the Chinese company paid $93 million for the share, which is about 85 million euros. According to The New York Times, the remainder of the company will remain in the hands of founder Joel Simkhai and other Grindr employees. The company would have needed a new partner to grow, said Grindr coo Carter McJunkin. He also says that the company, which was founded in 2009, wants to focus more on lifestyle in the future. An official announcement also announces ‘new features and services’.

According to Yahui Zhou, chairman of Beijing Kunlun Tech, Grindr was an interesting option because the company had made “impressive progress.” For example, Grindr achieved a turnover of 23 million euros in 2013 and a turnover of 29.5 million euros in 2014. The number of daily users worldwide is said to be around two million.