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 internet games business that helped introduce Angry Birds to Asia, offered $93 million in money for 60 per cent of the latest Grindr LLC, the ongoing business stated in a statement into the Shenzhen stock market. Beijing Kunlun Chairman Zhou Yahui, whom became a billionaire following the business detailed shares a year ago, ended up being scouting other possible investments into the U.S., based on an organization spokeswoman, Sophie Chen.
Zhou, worth $1.7 billion based on 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 regarding the mobile software Grindr will broaden its profile of services and produce a brand new supply of income, the organization stated.
In February, designer Rovio Entertainment Oy stated it finalized a deal that is exclusive Kunlun to produce a type of the hit mobile game enraged wild Birds tailored for Chinese players.