China’s largest gay dating app is planning an IPO that could value the company at $1 billion by lisettevoytko
that could value the company at $1 billion—but scaling up outside China may prove difficult, as social stigma and political risks make growth opportunities in its home country potentially controversial.The company is aiming for an IPO in the United States, which has an easier listing process and investors with deeper pockets.
The app itself is aimed towards gay men and boasts over 40 million users. Some reports suggest it is the largest gay dating app in the world.gay couples hoping to be parents with surrogates living overseas. Expanding the app’s offerings with new features, like the surrogacy one, is needed in order to diversify and increase revenue.
However, those types of features might make it difficult for chief executive and founder Geng Le to gain investors. In China, laws criminalizing gay relationships were only repealed in 1997. The Communist government has an uneasy relationship with the growing LGBTQ community, with recent bans on TV dramasGeng founded Blued in 2012 after being forced to leave his job as a police officer. Since then, the app has raised $130 million in venture capital.
to sell Grindr by the U.S. Committee on Foreign Investment in March. The committee was worried about how the company could impact national security.
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