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January 12, 2016 07:42 pm GMT

Grindr sells 60% stake to Chinese investor, faces growing competition

Grindr2

Grindr has just taken a large Chinese investment for global expansion, but next to its main rival in China, it's puny.

Grindr, a popular dating app for gay men, announced late on Monday that it sold its majority 60% stake to a Chinese company. Grindr CEO Joel Simkhai said the 7-year-old company took $155 million in investment from Beijing Kunlun, a Chinese gaming company.

See also: Gay dating apps battle for supremacy in China

Simkhai told the New York Times that Grindr took the investment in order to grow faster, and that the deal will allow its operations to continue as normal from its LA-based office. Read more...

More about China, Grindr, Tech, Apps Software, and Gay Dating Apps

Original Link: http://feeds.mashable.com/~r/mashable/tech/~3/2PUDyCf3-XI/

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