The Digital Source For China's Tech Innovation Since 2000

Search
Close

China's Kalends To Acquire Additional Stake In Grindr For USD152 Million

June 1, 2017
Internet | Telecom & Wireless

Chinese Internet game distributor Kalends plans to invest USD152 million to acquire a 38.47% in Grindr with Kunlun Group as the investor.

On the completion of the acquisition, Kunlun Group will own a 100% stake in Grindr.

The report revealed that on January 8, 2016, Kunlun Group signed a subscription agreement to purchase 98,448,000 shares of New Grindr LLC, which has now been renamed to Grindr LLC, from its existing shareholder Grindr Holding Company, and the total investment was about USD93 million. This deal completed equity settlement procedures in March 2016. With this transaction, Kunlun Group gained a 61.53% stake in Grindr.

Grindr is one of the largest social networks for homosexuals in the world. Headquartered in Los Angeles, it has over 27 million registered users in 196 countries and regions and over 30% users are from the U.S. Since its founding in 2009, the company has maintained continuous growth without any major external investment and marketing expenses. At present, Grindr's market share ranks first among similar websites in the U.S. and 66% of its revenue is from members.

Tags: acquisition | app | Grindr | Kalends | Kunlun | Los Angeles | matchmaking | mobile | social media | social networking

Other Related News:

Taiwan Semiconductor names head of state government relations amid Phoenix factory construction – ABC15 Arizona

September 15, 2021

(S+) »If you want peace, prepare for war«: why South Korea, Japan and Taiwan are arming themselves The Limited Times

March 5, 2022

Display Fingerprint Technology Market Growth, Overview with Detailed Analysis 2020-2026 Fingerprint Cards AB, NEC Corporation, Qualcomm Incorporated, Shenzhen Goodix, Synaptics Incorporated, FocalTech, GigaDevice, Vkansee and more

October 18, 2021

Phoenix Publishing & Media To Acquire 55% Stake In Shanghai-based Gaming Company

September 17, 2013

E Fund Management Hong Kong Co. Ltd. Boosts Stake in Weibo Co. (NASDAQ:WB) Watch List News

August 15, 2021

Lenovo's Computer Western Industrial Base Completed In Chengdu

December 28, 2011

GAPP: WoW Can Implement Beta Test From July 30

July 22, 2009

Former Baidu Chief Scientist To Join Woebot

October 24, 2017

China: No Immediate Plans For Mars Mission

January 5, 2004
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
Menu
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2022 ChinaTechNews.com. A Service of Asia Media Network.
Twitter
Posting....