China’s gay app that is dating eyes Nasdaq IPO to enhance offshore

China’s gay app that is dating eyes Nasdaq IPO to enhance offshore

It absolutely was around 20 years back whenever Baoli Ma hid in his room experiencing helpless and lonely if you are a homosexual man in Asia.

Life changed dramatically for Ma ever since then. This week, BlueCity, the homosexual relationship and life style platform he created, has filed for a short general public listing on Nasdaq .

“To me personally, herein lies the effectiveness of the internet — it empowers us to raise ourselves, also to bring heat to others across all corners around the globe located in loneliness, helplessness and fear due to their intimate orientation,” penned Ma, leader associated with business, when you look at the prospectus.

The organization stated it aims to raise $50 million through the IPO, whilst it have not determined its offer cost for each depositary that is american (ADS). The arises from the offering that is public get towards investment in brand brand new technologies also expansion in domestic and worldwide areas, which currently account fully for approximately half of their month-to-month users.

Ma, a previous closeted police, founded the LGBTQ-focused online forum in 2000. The gay dating app under the parent entity BlueCity in 2011, he quit his job to launch Blued.

In the beginning, Blued had been widely seen as a copycat of Grindr — a startup that is californian ended up being purchased with a Chinese company before it absolutely was obligated to sever ties over safety issues. Blued has since developed many features to differentiate it self. Created for users to talk and live broadcast, the application is mainly employed by homosexual males, though it includes solutions for the broader LGBTQ population. Xem thêm