Grindr fully bought out by Chinese gaming company

The Chinese gaming company that bought a majority shareholding in gay dating app Grindr last year has announced its intention to buy the remainder of the company.

In January 2016, Beijing Kunlun Tech bought a 61.5% stake in Grindr for $93million – putting a value of $155million on the business.

It has today announced that it is buying the remaining 38.5% for $152million. The unanimous decision was taken at a board of directors meeting at the Shenzhen-listed company on Monday.

Grindr was launched in 2009 by tech entrepreneur Joel Simkhai. One of the first geosocial networking sites on the market, it benefited from the explosion in smartphone use and quickly became one of the most popular dating apps for gay and bisexual men. It says it has over 2million daily users.

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