Popular dating app Grindr has sold a majority stake to a Chinese gaming company.
Beijing Kunlun Tech Company has bought the 60% stake in the dating app used by gay men, valuing it at US$155mln.
The remainder will be owned by Grindr employees and its founder, Joel Simkhai.
It is the first time the company has sought outside investment since it was launched in 2009.
Carter McJunkin, chief operating officer of Grindr, said: “We have users in every country in the world, but in order to get to the next phase of our business and grow faster, we needed a partner.”
The app, which lets users see photos and share messages others in their area, is now used in 196 countries around the world.
It is thought the app gets two million visits per day, and the company’s revenue was around US$32mln last year.
McJunkin said Beijing Kunlun’s digital expertise will help move Grindr forward, after failing to break into the straight dating market with its app Blendr.