GRINDR SOLD TO CHINESE BILLIONAIRE


Chinese billionaire Zhou Yahui has purchased a 60% share of gay dating app Grindr through his Beijing Kunlun Tech Co, paying $132,000,000AUD in cash.

Worth 2.4 Billion Australian dollars acording tho the Bloomberg Billionaires Index, Zhou made his fortune by bringing mobile games such as Angry Birds to China.

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It is expected that Grindr’s international popularity will be used to help direct attention to Beijing Kunlun Tech Co’s other apps to help boost revenue from outside China.

In an open letter from Grindr’s founder Joel Simkhai, the app’s users have been assured that the day to day use of the app will not change in any way, although the company may try to expand its offerings.

“We have taken this investment in our company to accelerate our growth, to allow us to expand our services for you, and to continue to ensure that we make Grindr the number one app and brand for our millions of users,” Simkhai said.
“It will generally be business as usual for us here at Grindr, but with a renewed sense of purpose and additional resources to deliver a great product to you. We hope you are enjoying our app and know you will be delighted by the new features and services we have planned this year.”

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