Grindr, the LGBTQ social community and relationship app, is now 100 % owned by Chinese cell gaming firm Kunlun Group.
The information comes seven months after Grindr revealed it will be promoting itself outright to Kunlun. At the time, Grindr mentioned that its founder and CEO, Joel Simkhai, could be staying on as he “leads the model into this new chapter.” However, the corporate has now confirmed Simkhai’s departure, with board chair Yahui Zhou stepping in as interim CEO.
“On behalf of everybody at Grindr, we wish to thank Joel for his inspiration and repair because the founding father of Grindr and need him all one of the best sooner or later,” mentioned Zhou. “Looking ahead, we’re extraordinarily excited concerning the glorious work Grindr is doing in turning into a number one international know-how firm, serving and supporting our customers regardless of the place they’re on the earth.”
Founded in 2008, Grindr emerged as “the world’s largest all-male social community,” in response to the corporate’s official advertising and marketing blurb, claiming greater than three million day by day lively customers (DAUs). Last November, Grindr revealed it was updating its app to be extra inclusive of transgender customers.
Grindr’s most up-to-date announcement was on January 5, simply days after the primary sentencing was handed down in a Texas case involving 4 males who admitted utilizing Grindr to focus on, assault, and rob customers. Elsewhere, stories from Egypt recommend native police have additionally used Grindr to search out and arrest these from the LGBT neighborhood.
Grindr had bootstrapped for greater than seven years forward of Kunlun’s preliminary $93 million funding in early 2016, a deal that transferred a roughly 60 % stake over to the Beijing-based firm. In May of final yr, Kunlun revealed it will be shopping for the remaining stake within the firm from Simkhai for a reported $152 million.
It’s not totally clear why Simkhai has determined to depart the corporate, and in an announcement he gave no indication as to what his subsequent transfer could be.
“I’m past happy with what we’ve constructed as a staff and the way Grindr has been in a position to make a significant and lasting contribution to the worldwide neighborhood,” mentioned Simkhai. “We have achieved our success due to the energy and international attain of our neighborhood. I look ahead to Grindr and Kunlun’s continued dedication to constructing tolerance, equality, and respect world wide.”
Following the completion of the acquisition, former Facebook and Instagram engineer Scott Chen has joined Grindr as chief know-how officer (CTO), changing Lukas Sliwka, who had served within the function since October 2013. Grindr’s vice chairman, Wei Zhou, is now chief monetary officer (CFO) and government vice chair.
This article sources info from VentureBeat