CGTN - Nov 25 - BlueCity, the parent company of Blued will acquire Finka, a leading gay social networking app in China targeting younger generations for 240M yuan ($36.5M). It's the second acquisition BlueCity has initiated since the company listed on Nasdaq in July. The transaction is subject to customary closing conditions that are expected by mid-December. The company also bought LESDO, a dating app focused on China's lesbian community, in August. Finka had ~2.7M registered users in 2019. The majority of the app's users are born after 1995 and are from China's first-tier cities. The app allows users to establish social contact and share their daily life through features like matching, private message, posting moments and lifecasting. Blued now has 54M registered users.
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