Reports: Grindr Headed for An IPO

Thursday August 30, 2018

Fans of hookup app Grindr, check this out: You could soon get your own piece of the action... the business side of the action, that is. The Chinese gaming company that owns Grindr, Kunlun Tech Co., has announced plans for an IPO for the app, reports South China Morning Post.

The report sketched a quick history of how the app - the invention of an American entrepreneur in 2009 - was acquired by Kunlun, which bought a controlling stake in Grindr for a reported $155 million two years ago. At the start of this year, the article said, Kunlun purchased the rest of Grindr's shares, and now wholly owns the app.

The IPO will not be offered in China, where another gay hookup app called Blued reportedly dominates.

"With 'millions of daily users,' Grindr also offers a premium subscription service that features Grindr Tribes, allowing users to specify their preference for Bear, Clean-cut, Daddy, Discreet, Geek, Jock, Leather, Otter, Poz, Rugged, Trans and Twink," the article noted.

American business publication Bloomberg also took note of the plans for an IPO. Bloomberg recalled that Grindr has faced accusations related to its handling of user's personal information, including "sharing... sexual preferences and HIV status with third parties without proper consent."

As reported at EDGE, the AIDS Healthcare Foundation (AHF) sharply criticized Grindr over what its president, Michael Weinstein, called "a serious violation of laws protecting the confidentiality of clients' personal information, particularly sensitive health information that may result in stigma and discrimination targeting those individuals."

In the wake of the subsequent outcry, Grindr announced it would no longer share that information.

No date has been set as yet for the IPO. Reports said that Kunlun will determine when to publicly list Grindr depending on market conditions and the approval of regulators.

Comments on Facebook