Kunlun Group, a mobile gaming company, completed its purchase of dating app Grindr in a move which sees the departure of Grindr CEO and founder Joel Simkhai.
According to news reports, Kunlun bought 60 per cent of the service in January 2016 for $93 million and coughed up $152 million for the remaining stake.
“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 Simkhai in a statement.
“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,” he added.
Grindr counts more than 3.3 million daily active users and claims to be the largest LGBTQ mobile social network in the world.
Yahui Zhou, chairman of the board of Grindr, will serve as interim CEO. Grindr’s current vice-chairman, Wei Zhou, will become CFO and former Facebook and Instagram veteran Scott Chen will join Grindr as CTO.