The company behind the popular gay dating and networking app Grindr has sold a 60% stake to Chinese gaming firm Beijing Kunlun Tech Company in a deal that values the former company at US$155 million, The New York Times reported, citing Grindr founder Joel Simkhai. Grindr’s Chief Operating Officer Carter McJunkin said the pairing made sense for Grindr because of Beijing Kunlun’s digital expertise, and that the agreement would let Grindr’s founders continue its operating structure and retain its current team. The deal also gives Beijing Kunlun a chance to expand beyond its core gaming assets, potentially outside of China.
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