Chinese Dating App Raises $84 Million
Blued, China’s largest gay dating app has raised over $84.8 million in its Nasdaq initial public offering and is now looking to consolidate its presence in the global LGBTQI market. To that end in August, it has also acquired Chinese lesbian dating app LESDO.Blued’s success and plans to expand the reach of its digital offerings come at a time when fellow Chinese app, the video sharing platform TikTok is facing pressure to sell its North American business to a US company.BlueCity, the company that owns Blued, released its Q2 earnings that showed its total revenue was over $35 million, an increase of 32.2% from the same period in 2019.