Chinese Gaming Billionaire Buys U.S. Gay Dating App Grindr

Chinese Gaming Billionaire Buys U.S. Gay Dating App Grindr

Certainly one of China’s newly minted technology billionaires signed a deal to get a controlling stake in Grindr, the world’s biggest gay social-networking app.

Beijing Kunlun Tech Co., an online games business that helped introduce Angry Birds to Asia, offered $93 million in money for 60 per cent of the latest Grindr LLC, the company said in a declaration to your Shenzhen stock exchange. Beijing Kunlun Chairman Zhou Yahui, who became a billionaire following the business listed stocks year that is last had been scouting other possible opportunities in the U.S., relating to an organization spokeswoman, Sophie Chen.

Zhou, well well worth $1.7 billion in line with the Bloomberg Billionaires Index, has overseen seven discounts for Kunlun since April — including Grindr and a minority stake in Uk mortgage company LendInvest Ltd. The addition for the app that is mobile will broaden its profile of services and create a fresh supply of revenue, the business said.

In February, designer Rovio Entertainment Oy stated it finalized a deal that is exclusive Kunlun to build up a form of the hit mobile game annoyed Birds tailored for Chinese players. Kunlun comes with circulation legal rights for Supercell Oy’s Clash of Clans and Boom Beach, and Electronic Arts Inc.’s importance of Speed, based on Chen.

Changing Culture

“Grindr could be the top platform in their area and it is mostly referred to as data-driven, and for their great individual base,” Chen said within an email. “It’s important to the Kunlun Internet eco-sphere that is global.”

Beijing Kunlun’s stocks rose by the most daily 10 percent limit after it announced the pact. Continue reading “Chinese Gaming Billionaire Buys U.S. Gay Dating App Grindr”