Chinese gaming company Kunlun Group has approved the public listing of its GBTQ dating property Grindr.
The move to go public has been detailed in a filing on the Shenzhen stock exchange, noting that the timing of Grindr’s listing will depend on a range of factors.
The executive board has approved the listing, but approval from shareholders is still pending. The state of the international capital market, as well as the position of various domestic and international regulators, will be considered before a date is set.
Kunlun acquired 61.5% of Grindr in 2016 for $155 million, before buying the remainder in January this year.
Grindr brought in $498 million in revenue for the umbrella in 2017, over 12% of its total. This figure will increase in 2018 following the full buyout.
“Grindr’s listing won’t exert a huge influence on the group’s revenues and profits,” Kunlun said.
“Meanwhile, Grindr can have an individual and direct financing platform which can support its expansion and long-term development.”
Kunlun is yet to introduce Grindr to China, where it may struggle to compete with market leader Blued. Blued claims to have over 40 million users, and recently raised $100 million series D.
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