China

China-based dating app Blued has filed for an IPO on NASDAQ, expanding its global and financial opportunities. 

The company aims to raise $50 million from the IPO, according to TechCrunch, which will go towards investment in technology and expanding the app in other countries. International users make up about half of its current membership.

Blued is part of a gay dating and lifestyle app called BlueCity founded by Baoli Ma in 2011, who is a formerly closeted gay policeman in China who was looking for a way to connect with others. While Blued originally seemed to model itself after dating app Grindr - (which was bought and later forced by the U.S. government to be sold by its Chinese owner Kunlun Tech) – the company added new features that included in-app video chats and livestream capabilities to distinguish itself.

Beijing-based social app Momo is the latest company to see its revenue fall for the first quarter of 2020 due to the economic repercussions of a global pandemic. Interestingly, while other social networks and dating apps have seen an increase in users over the same period, Momo reported a decline there, too.

According to PanDaily, Momo’s net revenues decreased by 3.5% year over year to $3.59 billion Chinese yuan. The bulk of the revenue  - 64.9% - came from live-streaming services on Momo and its popular dating app Tantan. Tantan on the other hand reported an increase in revenue in the first quarter of 29.3 percent from Q1 of 2019. Tantan contributed 10 percent of Momo’s overall revenue for Q1 of 2020.

Grindr is set to sell for $608.5 million. The sale comes after the US government expressed national security concerns regarding Beijing Kunlun Tech’s ownership of the gay dating app. San Vicente Acquisition Partners — a group of entrepreneurs and investors in the technology, media and telecommunications industries — will acquire a 98.5 percent stake in Grindr in the deal. 

Kunlun is one of China’s largest mobile gaming companies. The company took a majority stake in Grindr in 2016 for $93 million. In 2018, Kunlun purchased the remaining percentage of the popular dating platform for $152 million. The agreement was met with apprehension on the part of journalists, China experts and former intelligence officials, who suggested that it put the Chinese government in a position to demand sensitive data about the app’s users, including those who are not Chinese citizens.

Dating app Grindr, currently owned by Chinese company Kunlun Tech, might be off the market soon thanks to a bid by the Milan-based app design company Bending Spoons.

According to Global Dating Insights, Bending Spoons has offered $260 million for the popular gay dating app, headquartered in West Hollywood. Reports are also linking investment firm H14 to the deal, which is headed up by Barbara, Eleonora, and Luigi Berlusconi, children of Italy’s former prime minister Silvio Berlusconi. The app’s original founder Joel Simkhai sold his company for $93 million to Kunlun Tech in 2016. 

For the past several months, protests have been breaking out on a regular basis in Hong Kong, thanks to young student activists who want to maintain the city’s democratic leanings over the more oppressive mainland Chinese government’s rule. But along with the students who are moved to action, dating culture in Hong Kong is also changing as a result of the protests.

Many daters use popular dating apps like Momo, Tantan or Tinder to connect with each other, and aren’t afraid to list their political feelings in their profiles or when they message other daters. (Adding a yellow ribbon to your profile means you sympathize with protestors while a blue ribbon means you support the police and the mainland Chinese establishment.) Some are even posting photos of themselves at protests as a way to attract potential dates with the same political leanings.

Tencent, China’s largest social networking platform and operator of the immensely popular app WeChat, has launched a new dating app that seems positioned to compete with both Tinder and Tantan, China’s most popular dating app.

Qingliao - roughly translated as “light chat” – is kind of a hybrid of different dating app features already on the market. There is no swiping, but users can choose to “like” or “pass” on a potential match by choosing an “X” or a heart. When two users are matched, they can start chatting, according to details described in South China Morning Post.