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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 finalized a deal to get a controlling stake in Grindr, the world’s biggest social-networking app that is gay.

Beijing Kunlun Tech Co., A web games company that helped introduce Angry Birds to Asia, offered $93 million in money for 60 % of the latest Grindr LLC, the business said in a declaration to your Shenzhen stock market. Beijing Kunlun Chairman Zhou Yahui, whom became a billionaire following the business listed stocks a year ago, had been scouting other prospective assets within the U.S., relating to a business spokeswoman, Sophie Chen.

Zhou, 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 associated with mobile application Grindr will broaden its profile of services and produce a unique way to obtain revenue, the organization stated.

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

Changing Tradition

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

Beijing Kunlun’s stocks rose because of the most daily 10 % limitation after it announced the pact.