Grindr: China

US-based gay dating app Grindr has sold a 60 per cent stake to a Chinese gaming company, highlighting the increasing role China is playing in investing in the technology sector both at home and abroad.

Gaming company Beijing Kunlun Tech paid $155m for the stake in the first capital raising by the group which operates in 196 countries.

Grindr called the investment “a huge vote of confidence in our vision to connect gay men to even more of the world around them”. The app says it has 2m regular visitors per day, who spend an average of 54 minutes on the site...

Financial Times.

54 minutes a day?

Blimey.