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Blued Plans $1 Billion Initial Public Offering

Blued, the largest gay dating app in China, is reportedly planning a $1 billion IPO on a US stock exchange.

Bloomberg says, according to people familiar with the matter, that the listing could raise around $200 million.

Boasting 40 million users, the 2012-founded platform offers dating services, livestreamed content, and BluedBaby surrogate services for GBTQ parenthood.

In early 2018, the brand raised $100 million Series D in a round led by led by Hong Kong-based CDH Investments. In total, it has raised close to $150 million.

One concern for investors may be the fraught relationship between GBTQ businesses and conservative governments in APAC. 

Blued Indonesia was hit by a ban on 70 LGBTQ social and dating apps last year, brought forward after the Indonesian High Court refused to criminalise gay sex in December 2017.

China also offers its gay citizens few protections, and happily interferes with the functioning of businesses when it feels their content is inappropriate. 

Grindr is also moving towards an IPO, however, after the US Government withdrew its opposition to Beijing-based Kunlun Tech Group’s plan for the market leader. 

Read more here.

Scott Harvey

Scott is the Editor of Global Dating Insights. Raised in Dorset, he holds a BA from The University of Nottingham and an MSc from Lund University School of Economics and Management. Previously he has written about politics, economics and technology for various online publications.

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