TAIMI’s founder has commented on what impact BlueCity’s IPO will have on the rest of the LGBTQ online dating industry.
Alex Pasykov launched product in 2017 as a dating app for gay men. However, nine months ago it expanded its reach to act as a social network for the whole LGBTQ community.
He explained that he welcomes healthy competition and believes the latest move by BlueCity, the parent company of Blued, is good news for TAIMI and the community as a whole.
Pasykov said in a statement: “I am glad to see that more LGBT+ products are entering the global market. Especially, products like Blued that actively educate their users about LGBT+ health services”
The Ukranian entrepreneur, who also co-founded HILY, stated that he was currently not considering an IPO for his products but would not rule it out in the future. He continued to say that TAIMI has recently positive growth and recently surpassed one million monthly active users.
BlueCity debuted on the Nasdaq market on 8th July and raised just under $85 million from its IPO. Its price rose by approximately 46% on opening day.
However, its price has been on a steady decline since the original peak and currently sits at $17.96 giving the company a market cap of $640.3 million.
Visit the TAIMI website here.