Chinese gay relationship application BlueCity dedicated to Asia after IPO

Written by bette on Wednesday, September 15, 2021

Chinese gay relationship application BlueCity dedicated to Asia after IPO

Chinese dating that is gay BlueCity dedicated to Asia after IPO

BEIJING (Reuters) – Asia’s biggest gay dating application’s owner BlueCity is targeted on expanding in Asia, its creator said on Wednesday after it made its Nasdaq debut despite a U.S. securities regulator warning against assets in Chinese companies.

BlueCity , which says its Blued software currently gets the market share that is largest in Asia, Asia, Southern Korea and Vietnam, raised $84.8 million in a preliminary public offering which valued the Beijing-based business at $614 million.

“We are going to make expansion that is further in-depth assessment,” BlueCity’s founder and chief executive Ma Baoli stated whenever expected in the event that business would turn its focus to Western areas.

U.S. Secretary of State Mike Pompeo last thirty days urged stock exchanges globally to tighten up guidelines for Chinese organizations.

Established last year, BlueCity states this has 49 million new users in more than 210 nations, and 6 million month-to-month users that are activeMAUs), 49% of them outside Asia.

Although Asia recently banned 59 Chinese apps, including Bytedance’s TikTok and Tencent’s WeChat, after edge clashes with Asia, Blued had not been from the list.

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