STAR OBSERVER - July 7 - Last week, Chines gay dating app Blued revealed that it plans to raise ~$85M in an IPO of American Depositary Shares (ADS). The IPO scheduled to hit the market on Wednesday July 8 is planning to sell 5.3M ADS at a price of $15-$17 per ADS. The app claims ~49M registered users. For comparison, Grindr has ~27M users and Tinder ~57M users around the world. Blued said it was planning to use the IPO proceeds for geographic expansion, investment in technology and development, AI and big data capacity.
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