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Chinese Gaming Company Buys 60% Of Grindr For A Whopping $93 Million

Grindr CEO Joel Simkhai calls the transaction "a huge vote of confidence in our vision."

There's still no Powerball winner, but Grindr founder Joel Simkhai just hit the jackpot: He just sold 60% of the gay dating app to a Chinese gaming company for $93 million.

Beijing Kunlun Tech is now the majority stakeholder in the six-year-old company, which has revolutionized dating and intimate encounters for gay men.

Grindr

The move is "a huge vote of confidence in our vision to connect gay men to even more of the world around them," wrote Simkhai on the Grindr blog.

"We have users in every country in the world, but in order to get to the next phase of our business and grow faster, we needed a partner,” Grindr COO Carter McJunkin told The New York Times.

Simkhai promises new features and resources, but assures users things at Grindr will mostly remain "business as usual."

But will Beijing Kunlun Tech's involvement bring Grindr to China to compete with Blued, a Chinese dating app with more than two million members?

And will Grindr, which has worked to develop social awareness, push for LGBT advocacy in China—where conversion therapy is still legal and most gays and lesbians are pressured to enter into opposite-sex marriages?

h/t: TechCrunch