Grindr, the world's most popular gay social networking app, has been bought by Chinese gaming firm Beijing Kunlun Tech Company. The official announcement was released Monday to the Shenzhen Stock Exchange.
Kunlun will now own the controlling stake in the six-year-old company, which has an estimated value of USD155 million (RMB1.02 billion). The remainder of the company will be owned by founder Joel Simkhai and Grindr employees.
In a statement, Mr. Simkhai said: “Grindr has agreed to take on a majority investment from a new partner, Beijing Kunlun Tech Co., which is a huge vote of confidence in our vision to connect gay men to even more of the world.”
The controversial move has triggered an influx of reactions on Twitter.
Grindr isn’t as well known in China as it is in the US, mainly due to China’s strict regulations on foreign social media sites as well as socially taboo views surrounding the LGBT community. Homosexuality in China is not technically illegal, but until as recently as 2001 it was categorized as a 'mental disorder.’ Official stances remain vague if not openly prohibitive.
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