Recently, the creators of the Chinese applications for gay dating Blued made a statement: after negotiations with another investor they are estimated at $ 300 million.
Service appeared in 2012 and quickly gained popularity. Now it has attracted 27 million users, 20% of whom live outside of China, and become one of the most downloaded applications. It all started with the fact that the entrepreneur-gay former police officer Geng Le created Danlan LGBT site. To work on the site, he resigned from the police in the early 2000s and soon founded the Blue City.
Blued application was released in 2012. Blued success can be explained by the fact that it was one of the first such applications in Chinese. If we consider that China's population of 1.3 billion people, 17 million of whom belong to the LGBT, potential of application becomes evident.
The creator of the application for gay dating Blued Geng Le
For comparison, Grindr – another world-famous app for gay dating service – was valued at $ 155 million. In January, it was reported that 60% of Grindr bought the Chinese company Beijing Kunlun Tech Co.
China Daily reports that investors Blued Chinese company Vision Knight Capital (China) Fund, Mobile Games and Entertainment Group Ltd, Ventech China and Hong Kong New World Development Co Ltd. In Blued said that investors have invested "hundreds of millions of yuan," although details of the deal are not announced (RMB 100 million is approximately US $ 15 million).
Commenting on recent investments, Geng Le said that in recent months Blued revenues increased significantly. Application start to make a profit at the beginning of 2016.
"Business in the gay sphere – virgin territory for China, and we hope to become leaders in this market, – said Geng Le in an interview with China Daily -. The high solvency of gays and support of investors say that the so-called" pink economy "has excellent prospects. "
Last November, Geng Le said that he planned to put the company's shares on the stock exchange within five years, but now he hopes that this will happen in the next year or two.