Certainly one of China’s newly minted technology billionaires finalized ids response a deal buying a managing stake in Grindr, the world’s biggest gay social-networking app.

Beijing Kunlun Tech Co., an online games company that helped introduce Angry Birds to Asia, offered $93 million in money for 60 per cent of the latest Grindr LLC, the business stated in a declaration to your Shenzhen stock market. Beijing Kunlun Chairman Zhou Yahui, who became a billionaire following the business listed shares a year ago, ended up being scouting other prospective opportunities in the U.S., based on a business spokeswoman, Sophie Chen.

Zhou, well well worth $1.7 billion in accordance with the Bloomberg Billionaires Index, has overseen seven deals for Kunlun since April -- including Grindr and a minority stake in Uk mortgage company LendInvest Ltd. The addition regarding the mobile application Grindr will broaden its profile of services and produce a unique way to obtain income, the business stated.