Chinese Gay Dating App Gets Multi-Million Dollar Investment From The Beijing News
February 15, 2017
Folks that use Blued, China's largest gay dating app, will be happy to know that The Beijing News has invested "tens of millions" of renminbi (that's several million US dollars) in the service even though homosexuality still remains taboo for the nation.
Blued announced the investment last week and it's safe to say that the news is just another milestone in the company's success story. With their 27 million users, the app is a flourishing venture for the state-run newspaper and is valued at $300 million dollars, in part thanks to the $30 million they received during their second round of funding in 2014. Since we're talking numbers, 7 million users log into the app every single day, surpassing the amount of daily log-ins via Grindr.
Blued, which was originally a Beijing-originated startup, has already started a globalization expansion, with offices in Thailand, Vietnam and the United Kingdom. Just last year, the app made an investment with Stateside dating app Hornet to try and make a crossover transition into North American and Latin American markets.
Click here for more information on Blued.
Photo: Facebook/ BluedApp