Azure town Holdings Ltd., the firm behind China’s gay matchmaking software Blued, registered their software on Tuesday available companies in the Nasdaq change.
Exactly why it matters: Blued, which boasts 49 million customers, is the biggest personal online dating application for Asia’s LGBTQ (lesbian, homosexual, bisexual, transgender, and queer) community, according to a written report by consultancy freeze & Sullivan.
- The firm’s program to number on an US exchange bucks the existing development of Chinese technical enterprises showing increased interest in Hong-Kong listing.
- US national organizations is pressing for much more strict rules on overseas firms like those from China, soon after a string of accounting scandals directed by Luckin.
- Nonetheless, a list in the US may garner most interest than one on their room turf, which holds much less progressive horizon on LGBTQ forums.
- Blued’s international expansion may test United States competitors Grindr and Hornet.
Facts: The firm made use of a placeholder number of $50 million as a fundraising target, based on the processing. Continue reading China’s premier gay matchmaking software Blued files for people IPO