Kunlun Group Limited closed on its purchase of the remaining stake of Grindr LLC from founder Joel Simkhai. Kunlun, one of the largest mobile gaming companies in the world, now has full ownership of the world’s largest gay social network.
Joel Simkhai, the CEO and founder of Grindr, will exit the company, and Yahui Zhou, the chairman of the board of Grindr, will serve as the interim CEO. Additionally, Grindr’s current vice-chairman Wei Zhou has been named as executive vice-chairman and CFO, and former Facebook and Instagram veteran Scott Chen will join the company as CTO.
“I’m beyond proud of what we’ve built as a team and how Grindr has been able to make a meaningful and lasting contribution to the global community,” said Joel Simkhai, “We have achieved our success because of the strength and global reach of our community. I look forward to Grindr and Kunlun’s continued commitment to building tolerance, equality, and respect around the world.”
“On behalf of everyone at Grindr, we would like to thank Joel for his inspiration and service as the founder of Grindr, and wish him all the best in the future,” said Yahui Zhou, “Looking forward, we are extremely excited about the excellent work Grindr is doing in becoming a leading global technology company, serving and supporting our users no matter where they are in the world.”
With over 3.3 million daily active users in every country in the world, Grindr is the largest LGBTQ mobile social network. Since its launch in 2009, Grindr has grown to become a fundamental part of users’ daily lives globally. The company continues to expand their ecosystem to enable all users to connect to the world around them. Through INTO, a digital content channel for and by the LGBTQ community, various events, and experiential opportunities, Grindr is helping users engage across the spectrum.
SOURCE: Grindr’s Acquisition