Gay dating app Grindr is planning to go public after gaining approval from parent company Kunlun Group for an overseas listing.
China’s Kunlun, which develops games, operates web platforms and creates apps, said the timing of the listing will depend on market conditions and regulatory approval, the South China Morning Post reported.
The app’s IPO plans have been approved by the Kunlun executive board, but it still needs the green light from the shareholder board.
“Grindr’s listing won’t exert a huge influence on the group’s revenues and profits,” Kunlun said in a filing to the Shenzhen stock exchange. “Meanwhile, Grindr can have an individual and direct financing platform which can support its expansion and long-term development.”
Grindr was founded by Joel Simkhai in 2009 and is based in Los Angeles.
Mr Simkhai was chief executive of the company until it was bought by Kunlun earlier this year. The Chinese group bought a 60 per cent stake in the app in 2016 for $93m (£71.5m) and then paid $152m for the remainder of the firm in January 2018. However, it did not launch Grindr in China.
However, Kunlun still has not launched Grindr in China, where the most popular gay dating app is Blued.
At the time the app was sold, Mr Simkhai said: “I’m beyond proud of what we’ve built as a team and how Grindr has been able to make a meaningful and lasting contribution to the global community.
“We have achieved our success because of the strength and global reach of our community. I look forward to Grindr and Kunlun’s continued commitment to building tolerance, equality, and respect around the world.”
Kunlun and Grindr have been contacted for comment.
