Popular gay dating app Grindr has agreed to a major investment from Chinese gaming firm Beijing Kunlun Tech.
The game developer company announced that it will acquire 60% of the Los Angeles-based app for $93m (£64m), valuing the company at $155m.
The deal was announced by the firm in a filing to the Shenzhen stock exchange yesterday.
The remaining 40% of the company will continue to be owned by Grindr employees and its founder Joel Simkhai, who created the app back in 2009.
In a blog post released today, Simkhai said: “For nearly seven years, Grindr has self-funded its growth, and in doing so, we have built the largest network for gay men in the world.
“We have taken this investment in our company to accelerate our growth, to allow us to expand our services for you, and to continue to ensure that we make Grindr the number one app and brand for our millions of users.
“It will generally be business as usual for us here at Grindr, but with a renewed sense of purpose and additional resources to deliver a great product to you. We hope you are enjoying our app and know you will be delighted by the new features and services we have planned this year.
“Most importantly, none of this growth and change would have been possible without the hard work of our Grindr employees and partners, who have made so much happen in just under seven years, and keep me inspired every day to keep growing our brand.”
Founded six years ago, the gay dating and social networking app is now used in 196 countries, and is visited by two million people every day.
The gaming firm has not yet revealed its reasons for acquiring a controlling stake in the application, but it is likely the deal was made to expand its portfolio out of gaming and into the rapidly-growing online dating space.
Last year, the Chinese company’s Chairman became a billionaire, after listing its shares.
The app is available for both iOS and Android devices.
Visit Grindr’s official site here.