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China’s gay app that is dating eyes Nasdaq

China’s gay app that is dating eyes Nasdaq

Life changed significantly for Ma ever since then. This week, BlueCity, the dating that is gay life style platform he created, has filed for a short general general public listing on Nasdaq.

“To me personally, herein lies the effectiveness of the world wide web — it empowers us to raise ourselves, and also to bring heat to other people across all corners associated with globe surviving in loneliness, helplessness and fear due to their intimate orientation, ” published Ma, leader regarding the business, within the prospectus.

The organization stated it is designed to raise $50 million through the IPO, whilst it has not yet determined its offer cost for each depositary that is american (ADS). The arises from the general public providing will get towards investment in new technologies along with expansion in domestic and worldwide areas, which presently take into account approximately half of the month-to-month users.

Ma, a previous closeted officer, founded the LGBTQ-focused online forum in 2000. Last year, he quit their task to introduce Blued, the gay relationship software beneath the moms and dad entity BlueCity.

Early, Blued was widely regarded as a copycat of Grindr — A californian startup that ended up being purchased with a Chinese business before it absolutely was obligated to sever ties over safety issues. Blued has since developed many features to differentiate it self. Read more