China’s Kunlun completes full buyout of Grindr

Nearly dual years to a day of a infancy investment in Grindr, China-based tech organisation Kunlun Group has entirely acquired a happy dating app.

Grindr is among the, if not the, world’s many renouned LBQT dating app with a claimed 3.3 million daily users. Kunlun, that is best famous for games though is partial of a consortium that acquired Opera’s browser business, bought 60 percent of a use in Jan 2016 for $93 million. China Money Network reported that Kunlun paid $152 million for a remaining stake, that’s according to batch filings.

The understanding will also see a change in a structure of Grindr’s business with CEO and founder Joel Simkhai exiting a company. The startup’s stream house chairman, Yahui Zhou, is stepping in as halt CEO until a full-time deputy is hired.

In other exec shuffles, stream vice-chairman Wei Zhou becomes CFO with Scott Chen, before with Facebook and Instagram, relocating in as CTO.

“I’m over unapproachable of what we’ve built as a group and how Grindr has been means to make a suggestive and durability grant to a tellurian community. We have achieved a success since of a strength and tellurian strech of a community. we demeanour brazen to Grindr and Kunlun’s continued joining to building tolerance, equality, and honour around a world,” Simkhai pronounced in a statement.

Grindr was founded over 7 years ago and it never lifted outward money. That’s flattering singular in this day and age.

Featured Image: Leon Neal/Getty Images

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Posted by on Jan 10 2018. Filed under NEWS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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