TIME - June 25 - Last July, BlueCity debuted on Nasdaq with an $85M IPO as the world's most popular LGBTQ+ dating community. Although it has yet to turn a profit, losses have narrowed considerably since paid memberships, live streams and ads were introduced. "At the beginning, I just wanted to do something for myself and my gay friends," says Ma Baoli, the company's founder. In 2013, Blued began overseas expansion. It is already the market leader in many Asian countries and has grown rapidly in markets like Mexico and Brazil. Blued has 63M registered users worldwide.
by Charlie Campbell
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