Dating app for gay and bisexual men Grindr has just received an investment of US$93 million from a Chinese gaming company Beijing Kunlun Tech.
Grindr is the largest all-male dating network, with over two million daily active users in 196 countries. The Chinese company is the first outside investment in the startup, a 60 per cent stake, valuing Grinder at US$155 million.
In a blog post the founder and CEO Joel Simkhai said: “For nearly seven years, Grindr has self-funded its growth, and in doing so, we have built the largest network for gay men in the world.
“We have taken this investment in our company to accelerate our growth, to allow us to expand our services for you, and to continue to ensure that we make Grindr the number one app and brand for our millions of users.”
Zhou Yahui, chairman of Beijing Kunlun, said: “We have been very impressed by Grindr’s progress to date and are extremely excited about the future of the company. We will continue to seek out and invest in high-quality technology companies led by top-tier management across the globe.”
According to Simkhai the app is business as usual but with a renewed sense of purpose and additional funds.