You might have invested a lot of time into Grindr, but now you can also invest your savings into the company.
The Kunlun Group, the Chinese owners of the gay dating app, have announced plans to float the company on the stock exchange.
The company said listing the shares of the company on international stock exchanges would “strengthen” the company’s competitiveness and allow for further development of the platform.
It’s nine years since the geo-social mobile networking app was first launched. The phone app is now available in 192 countries around the world and is used by over 27 million people.
In January 2016 the US based company who developed the app sold a 61.5 per cent stake in the organisation to Chinese gaming company Beijing Kunlun Tech for $93 million. In January this year they paid an additional $152 million taking full ownership of the company.
In a public filing on the Shenzhen stock exchange, Kunlun Group said that after the initial public offering (IPO) was completed, financing arrangements would be made to support Grindr’s expansion.
OIP Staff
