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Gay app GRINDR Valued At $240M After Purchase By Chinese Firm
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The gay app GRINDR is now valued at nearly a quarter billion dollars following the sale of the gay-owned and operated company to a Chinese-based firm named Beijing Kunlun Tech. Joel Simkhai created the app in 2009 and says he will remain as CEO despite selling the remaining 38% of the company to Kunlun for $152 million dollars this week.The takeover comes at a time when China, the world’s most populous nation but lagging the West in achieving equal legal status for its homosexual citizens, is cultivating a lucrative industry catering to the social
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